Vista Investment Partners II LLC Grows Stake in Tenet Healthcare Corporation (NYSE:THC)

Vista Investment Partners II LLC grew its holdings in Tenet Healthcare Corporation (NYSE:THC) by 58.8% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 14,347 shares of the company’s stock after acquiring an additional 5,314 shares during the quarter. Vista Investment Partners II LLC’s holdings in Tenet Healthcare were worth $1,930,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. Geode Capital Management LLC boosted its position in shares of Tenet Healthcare by 3.5% in the 4th quarter. Geode Capital Management LLC now owns 2,116,121 shares of the company’s stock valued at $268,591,000 after purchasing an additional 71,454 shares during the period. Norges Bank acquired a new stake in shares of Tenet Healthcare in the 4th quarter valued at about $190,819,000. Dimensional Fund Advisors LP boosted its position in shares of Tenet Healthcare by 22.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,493,532 shares of the company’s stock valued at $188,524,000 after purchasing an additional 272,906 shares during the period. AQR Capital Management LLC boosted its position in shares of Tenet Healthcare by 20.8% in the 4th quarter. AQR Capital Management LLC now owns 872,117 shares of the company’s stock valued at $110,087,000 after purchasing an additional 150,361 shares during the period. Finally, Northern Trust Corp boosted its position in shares of Tenet Healthcare by 22.0% in the 4th quarter. Northern Trust Corp now owns 848,049 shares of the company’s stock valued at $107,049,000 after purchasing an additional 152,671 shares during the period. Hedge funds and other institutional investors own 95.44% of the company’s stock.

Insiders Place Their Bets

In other news, Director Richard W. Fisher sold 836 shares of the business’s stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $173.16, for a total value of $144,761.76. Following the completion of the transaction, the director now directly owns 11,292 shares of the company’s stock, valued at $1,955,322.72. The trade was a 6.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Paola M. Arbour sold 7,738 shares of the business’s stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $173.00, for a total value of $1,338,674.00. Following the completion of the transaction, the executive vice president now directly owns 20,110 shares of the company’s stock, valued at approximately $3,479,030. This trade represents a 27.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 54,121 shares of company stock worth $8,846,305. 0.81% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on THC. Guggenheim began coverage on Tenet Healthcare in a research report on Wednesday, April 9th. They set a “buy” rating and a $165.00 price objective for the company. Morgan Stanley increased their price objective on Tenet Healthcare from $175.00 to $210.00 and gave the stock an “overweight” rating in a research report on Monday, June 9th. UBS Group increased their price objective on Tenet Healthcare from $217.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, April 30th. Baird R W cut Tenet Healthcare from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 15th. Finally, Robert W. Baird reaffirmed a “neutral” rating and set a $137.00 price objective (down from $153.00) on shares of Tenet Healthcare in a research report on Tuesday, April 15th. Three investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $182.24.

Tenet Healthcare Stock Up 0.6%

Tenet Healthcare stock opened at $173.64 on Friday. The company has a debt-to-equity ratio of 2.23, a current ratio of 1.78 and a quick ratio of 1.70. Tenet Healthcare Corporation has a 1-year low of $109.82 and a 1-year high of $177.32. The company has a market cap of $16.13 billion, a PE ratio of 11.48, a price-to-earnings-growth ratio of 1.26 and a beta of 1.65. The stock’s 50 day moving average price is $157.06 and its 200 day moving average price is $139.59.

Tenet Healthcare (NYSE:THC) last posted its earnings results on Tuesday, April 29th. The company reported $4.36 EPS for the quarter, topping analysts’ consensus estimates of $3.11 by $1.25. The company had revenue of $5.22 billion for the quarter, compared to the consensus estimate of $5.15 billion. Tenet Healthcare had a return on equity of 22.58% and a net margin of 7.09%. Tenet Healthcare’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same period in the previous year, the business earned $3.22 earnings per share. On average, sell-side analysts predict that Tenet Healthcare Corporation will post 12.24 EPS for the current fiscal year.

About Tenet Healthcare

Tenet Healthcare Corporation operates as a diversified healthcare services company in the United States. The company operates through two segments: Hospital Operations and Services, and Ambulatory Care. Its general hospitals offer acute care services, operating and recovery rooms, radiology and respiratory therapy services, clinical laboratories, and pharmacies.