Tenet Healthcare Co. (NYSE:THC) Shares Bought by Gotham Asset Management LLC

Gotham Asset Management LLC grew its position in Tenet Healthcare Co. (NYSE:THC) by 58.1% in the fourth quarter, Holdings Channel.com reports. The fund owned 114,181 shares of the company’s stock after buying an additional 41,978 shares during the period. Gotham Asset Management LLC’s holdings in Tenet Healthcare were worth $14,413,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Geode Capital Management LLC raised its holdings in shares of Tenet Healthcare by 3.5% during the fourth quarter. Geode Capital Management LLC now owns 2,116,121 shares of the company’s stock valued at $268,591,000 after buying an additional 71,454 shares during the last quarter. Norges Bank bought a new stake in Tenet Healthcare during the fourth quarter worth approximately $190,819,000. Dimensional Fund Advisors LP increased its holdings in shares of Tenet Healthcare by 22.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,493,532 shares of the company’s stock valued at $188,524,000 after buying an additional 272,906 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of Tenet Healthcare by 20.8% during the 4th quarter. AQR Capital Management LLC now owns 872,117 shares of the company’s stock valued at $110,087,000 after acquiring an additional 150,361 shares during the last quarter. Finally, Northern Trust Corp grew its holdings 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 worth $107,049,000 after acquiring an additional 152,671 shares during the last quarter. 95.44% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Tenet Healthcare

In related news, Director J Robert Kerrey sold 9,525 shares of the company’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $125.43, for a total transaction of $1,194,720.75. Following the completion of the transaction, the director now directly owns 27,378 shares in the company, valued at $3,434,022.54. This represents a 25.81 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.81% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have issued reports on THC. The Goldman Sachs Group boosted their price objective on Tenet Healthcare from $134.00 to $154.00 and gave the stock a “neutral” rating in a report on Monday, May 5th. Guggenheim initiated coverage on shares of Tenet Healthcare in a research report on Wednesday, April 9th. They issued a “buy” rating and a $165.00 price target for the company. TD Cowen assumed coverage on shares of Tenet Healthcare in a research report on Wednesday, February 26th. They set a “buy” rating and a $175.00 price objective on the stock. UBS Group lifted their price target on Tenet Healthcare from $217.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, April 30th. Finally, Baird R W cut Tenet Healthcare from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 15th. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Tenet Healthcare currently has a consensus rating of “Moderate Buy” and a consensus price target of $173.69.

Tenet Healthcare Stock Down 0.2 %

THC opened at $148.80 on Friday. Tenet Healthcare Co. has a twelve month low of $109.82 and a twelve month high of $171.20. The firm has a market cap of $13.82 billion, a P/E ratio of 4.62, a price-to-earnings-growth ratio of 1.02 and a beta of 1.63. The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.70 and a current ratio of 1.78. The business has a 50 day moving average price of $129.38 and a 200 day moving average price of $135.94.

Tenet Healthcare (NYSE:THC) last announced its earnings results on Tuesday, April 29th. The company reported $4.36 EPS for the quarter, topping the consensus estimate of $3.11 by $1.25. The firm had revenue of $5.22 billion for the quarter, compared to the consensus estimate of $5.15 billion. Tenet Healthcare had a net margin of 15.48% and a return on equity of 21.88%. The business’s quarterly revenue was down 2.5% on a year-over-year basis. During the same quarter last year, the firm posted $3.22 EPS. Research analysts forecast that Tenet Healthcare Co. will post 12.24 EPS for the current 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.