Rock Springs Capital Management LP Buys New Shares in Tenet Healthcare Co. (NYSE:THC)

Rock Springs Capital Management LP purchased a new stake in Tenet Healthcare Co. (NYSE:THC) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 129,200 shares of the company’s stock, valued at approximately $16,309,000. Rock Springs Capital Management LP owned about 0.14% of Tenet Healthcare as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in THC. GeoWealth Management LLC grew its holdings in shares of Tenet Healthcare by 39.8% during the 4th 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. WR Wealth Planners LLC grew its stake in Tenet Healthcare by 2,836.4% during the fourth quarter. WR Wealth Planners LLC now owns 323 shares of the company’s stock worth $41,000 after buying an additional 312 shares during the period. Smartleaf Asset Management LLC increased its position in shares of Tenet Healthcare by 30.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 471 shares of the company’s stock worth $59,000 after acquiring an additional 110 shares in the last quarter. Kestra Investment Management LLC acquired a new position in shares of Tenet Healthcare during the 4th quarter valued at $60,000. Finally, Wilmington Savings Fund Society FSB increased its holdings in Tenet Healthcare by 1,352.8% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 523 shares of the company’s stock valued at $66,000 after purchasing an additional 487 shares in the last quarter. 95.44% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

THC has been the topic of several analyst reports. StockNews.com upgraded Tenet Healthcare from a “hold” rating to a “buy” rating in a report on Thursday, March 13th. Truist Financial lowered their price target on shares of Tenet Healthcare from $190.00 to $175.00 and set a “buy” rating for the company in a report on Monday, January 6th. KeyCorp decreased their price objective on shares of Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Guggenheim began coverage on Tenet Healthcare in a research note on Wednesday, April 9th. They issued a “buy” rating and a $165.00 price target on the stock. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $177.00 target price on shares of Tenet Healthcare in a research note on Thursday, February 13th. Five investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $165.44.

Tenet Healthcare Trading Up 0.9 %

Shares of THC stock opened at $121.47 on Monday. The firm has a market capitalization of $11.46 billion, a PE ratio of 3.77, a price-to-earnings-growth ratio of 1.02 and a beta of 1.77. The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.70 and a current ratio of 1.78. Tenet Healthcare Co. has a 1 year low of $90.03 and a 1 year high of $171.20. The stock has a fifty day moving average of $127.88 and a two-hundred day moving average of $138.01.

Tenet Healthcare (NYSE:THC) last released its earnings results on Wednesday, February 12th. The company reported $3.44 EPS for the quarter, beating the consensus estimate of $2.95 by $0.49. Tenet Healthcare had a net margin of 15.48% and a return on equity of 21.88%. As a group, research analysts expect that Tenet Healthcare Co. will post 12.24 EPS for the current year.

Insider Activity

In other Tenet Healthcare news, Director J Robert Kerrey sold 9,525 shares of Tenet Healthcare stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $125.43, for a total value of $1,194,720.75. Following the transaction, the director now owns 27,378 shares in the company, valued at approximately $3,434,022.54. The trade was a 25.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.93% of the company’s stock.

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.