Tenet Healthcare Corporation $THC Stake Increased by One Way Holdings LLC

One Way Holdings LLC grew its stake in Tenet Healthcare Corporation (NYSE:THC) by 5.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 102,380 shares of the company’s stock after acquiring an additional 5,324 shares during the quarter. Tenet Healthcare comprises approximately 1.2% of One Way Holdings LLC’s investment portfolio, making the stock its 29th biggest position. One Way Holdings LLC owned about 0.13% of Tenet Healthcare worth $26,164,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of THC. Manning & Napier Advisors LLC acquired a new stake in Tenet Healthcare during the second quarter worth about $168,761,000. Bank of New York Mellon Corp purchased a new stake in shares of Tenet Healthcare in the 2nd quarter valued at approximately $106,342,000. Hsbc Holdings PLC increased its holdings in shares of Tenet Healthcare by 3,478.7% during the 4th quarter. Hsbc Holdings PLC now owns 266,400 shares of the company’s stock worth $53,269,000 after buying an additional 258,956 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of Tenet Healthcare by 57.4% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 671,700 shares of the company’s stock valued at $126,757,000 after buying an additional 244,901 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in Tenet Healthcare by 535.9% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 127,677 shares of the company’s stock valued at $24,094,000 after acquiring an additional 107,600 shares during the last quarter. Institutional investors and hedge funds own 95.44% of the company’s stock.

Tenet Healthcare Price Performance

Shares of NYSE:THC opened at $273.25 on Monday. Tenet Healthcare Corporation has a 1-year low of $157.58 and a 1-year high of $283.05. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.58 and a quick ratio of 1.52. The stock has a market cap of $21.75 billion, a P/E ratio of 7.92, a P/E/G ratio of 1.03 and a beta of 1.20. The firm has a fifty day moving average price of $264.85 and a 200 day moving average price of $220.34.

Tenet Healthcare (NYSE:THC) last issued its quarterly earnings results on Thursday, October 29th. The company reported $6.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.68 by $1.96. Tenet Healthcare had a return on equity of 28.22% and a net margin of 13.09%. The firm had revenue of $6.28 billion for the quarter, compared to analysts’ expectations of $5.49 billion. During the same quarter in the previous year, the firm posted $3.70 EPS. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. Sell-side analysts predict that Tenet Healthcare Corporation will post 21.98 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Raymond James Financial reiterated an “outperform” rating and issued a $285.00 price objective on shares of Tenet Healthcare in a research report on Friday, August 14th. Morgan Stanley increased their price target on Tenet Healthcare from $254.00 to $274.00 and gave the stock an “overweight” rating in a report on Monday, July 27th. Wall Street Zen raised Tenet Healthcare from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 17th. The Goldman Sachs Group reiterated a “buy” rating and issued a $305.00 price objective on shares of Tenet Healthcare in a research note on Tuesday, July 28th. Finally, Guggenheim decreased their price target on shares of Tenet Healthcare from $307.00 to $306.00 and set a “buy” rating for the company in a research note on Friday. Eighteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $280.16.

Insider Buying and Selling

In related news, CEO Saumya Sutaria sold 50,000 shares of the firm’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $278.71, for a total value of $13,935,500.00. Following the completion of the sale, the chief executive officer owned 483,564 shares in the company, valued at $134,774,122.44. This trade represents a 9.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Lisa Y. Foo sold 24,000 shares of Tenet Healthcare stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $266.32, for a total value of $6,391,680.00. Following the completion of the sale, the executive vice president directly owned 8,053 shares in the company, valued at $2,144,674.96. This represents a 74.88% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 106,484 shares of company stock worth $28,898,063. 0.97% of the stock is currently owned by insiders.

About Tenet Healthcare

Tenet Healthcare Corp. (NYSE: THC) is a diversified healthcare services company headquartered in Dallas, Texas. Through its hospital operations and outpatient platforms, the company provides a range of medical services to patients across the United States.

Tenet operates acute care and specialty hospitals, ambulatory surgery centers, imaging facilities and other outpatient care sites. Its United Surgical Partners International subsidiary is a major provider of ambulatory surgery services and partners with physicians and health systems.