Dark Forest Capital Management LP Invests $420,000 in Tenet Healthcare Co. (NYSE:THC)

Dark Forest Capital Management LP purchased a new stake in shares of Tenet Healthcare Co. (NYSE:THC) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund purchased 3,328 shares of the company’s stock, valued at approximately $420,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC grew its stake in shares of Tenet Healthcare by 9.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 940 shares of the company’s stock worth $119,000 after acquiring an additional 80 shares during the period. GeoWealth Management LLC boosted its position in Tenet Healthcare by 39.8% during the fourth quarter. GeoWealth Management LLC now owns 295 shares of the company’s stock worth $37,000 after purchasing an additional 84 shares during the period. Spire Wealth Management raised its position in shares of Tenet Healthcare by 19.5% in the fourth quarter. Spire Wealth Management now owns 558 shares of the company’s stock valued at $70,000 after purchasing an additional 91 shares during the period. CIBC Private Wealth Group LLC lifted its stake in shares of Tenet Healthcare by 1.7% during the 4th quarter. CIBC Private Wealth Group LLC now owns 5,619 shares of the company’s stock valued at $732,000 after buying an additional 92 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its stake in Tenet Healthcare by 1.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 8,109 shares of the company’s stock valued at $1,024,000 after buying an additional 100 shares in the last quarter. 95.44% of the stock is owned by institutional investors.

Tenet Healthcare Stock Performance

NYSE:THC opened at $121.99 on Friday. Tenet Healthcare Co. has a 1-year low of $92.01 and a 1-year high of $171.20. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.78 and a quick ratio of 1.70. The business has a 50 day moving average of $126.50 and a 200 day moving average of $136.90. The company has a market capitalization of $11.51 billion, a price-to-earnings ratio of 3.78, a PEG ratio of 1.02 and a beta of 1.77.

Tenet Healthcare (NYSE:THC) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $3.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.95 by $0.49. Tenet Healthcare had a net margin of 15.48% and a return on equity of 21.88%. On average, sell-side analysts predict that Tenet Healthcare Co. will post 12.24 earnings per share for the current fiscal year.

Insider Transactions at Tenet Healthcare

In related news, Director J Robert Kerrey sold 9,525 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $125.43, for a total transaction of $1,194,720.75. Following the transaction, the director now directly owns 27,378 shares in the company, valued at $3,434,022.54. This trade represents a 25.81 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $177.00 price target on shares of Tenet Healthcare in a report on Thursday, February 13th. TD Cowen began coverage on Tenet Healthcare in a report on Wednesday, February 26th. They set a “buy” rating and a $175.00 target price for the company. Barclays cut their price objective on shares of Tenet Healthcare from $190.00 to $161.00 and set an “overweight” rating for the company in a research report on Thursday, February 13th. Morgan Stanley began coverage on shares of Tenet Healthcare in a report on Wednesday, March 26th. They set an “overweight” rating and a $165.00 target price on the stock. Finally, Baird R W lowered shares of Tenet Healthcare from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 15th. Five equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, Tenet Healthcare has a consensus rating of “Moderate Buy” and an average price target of $165.44.

Tenet Healthcare Company Profile

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.