AQR Capital Management LLC Acquires 150,361 Shares of Tenet Healthcare Co. (NYSE:THC)

AQR Capital Management LLC lifted its stake in Tenet Healthcare Co. (NYSE:THC - Free Report) by 20.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 872,117 shares of the company's stock after buying an additional 150,361 shares during the quarter. AQR Capital Management LLC owned about 0.92% of Tenet Healthcare worth $110,087,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Perbak Capital Partners LLP increased its stake in shares of Tenet Healthcare by 12.2% in the fourth quarter. Perbak Capital Partners LLP now owns 7,028 shares of the company's stock worth $887,000 after purchasing an additional 766 shares in the last quarter. Northern Trust Corp raised its holdings in Tenet Healthcare by 22.0% during the fourth quarter. Northern Trust Corp now owns 848,049 shares of the company's stock valued at $107,049,000 after acquiring an additional 152,671 shares during the period. Quarry LP boosted its stake in shares of Tenet Healthcare by 49.9% in the fourth quarter. Quarry LP now owns 790 shares of the company's stock worth $100,000 after acquiring an additional 263 shares during the period. Two Sigma Securities LLC raised its stake in Tenet Healthcare by 136.0% during the 4th quarter. Two Sigma Securities LLC now owns 1,586 shares of the company's stock valued at $200,000 after purchasing an additional 5,986 shares during the period. Finally, Nebula Research & Development LLC bought a new position in Tenet Healthcare in the 4th quarter worth approximately $760,000. 95.44% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Tenet Healthcare

In other news, Director J Robert Kerrey sold 9,525 shares of the business's stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $125.43, for a total value of $1,194,720.75. Following the completion of the transaction, the director now owns 27,378 shares of the company's stock, valued at $3,434,022.54. The trade was a 25.81 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.81% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. KeyCorp dropped their target price 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. Morgan Stanley began coverage on Tenet Healthcare in a report on Wednesday, March 26th. They issued an "overweight" rating and a $165.00 target price on the stock. Guggenheim assumed coverage on Tenet Healthcare in a report on Wednesday, April 9th. They set a "buy" rating and a $165.00 price target for the company. Robert W. Baird reiterated a "neutral" rating and set a $137.00 target price (down from $153.00) on shares of Tenet Healthcare in a research report on Tuesday, April 15th. Finally, Truist Financial decreased their price target on shares of Tenet Healthcare from $190.00 to $175.00 and set a "buy" rating on the stock in a research note on Monday, January 6th. Five equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Tenet Healthcare currently has an average rating of "Moderate Buy" and a consensus target price of $165.44.

Tenet Healthcare Stock Performance

Shares of THC opened at $137.94 on Wednesday. The stock has a 50-day moving average of $126.28 and a two-hundred day moving average of $136.58. 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 stock has a market cap of $13.02 billion, a P/E ratio of 4.28, a P/E/G ratio of 1.02 and a beta of 1.77. Tenet Healthcare Co. has a one year low of $104.06 and a one year high of $171.20.

Tenet Healthcare (NYSE:THC - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $4.36 earnings per share for the quarter, topping the consensus estimate of $3.11 by $1.25. Tenet Healthcare had a net margin of 15.48% and a return on equity of 21.88%. The company had revenue of $5.22 billion for the quarter, compared to the consensus estimate of $5.15 billion. During the same quarter in the prior year, the company earned $3.22 EPS. Tenet Healthcare's quarterly revenue was down 2.5% on a year-over-year basis. As a group, research analysts predict that Tenet Healthcare Co. will post 12.24 EPS for the current year.

Tenet Healthcare 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.

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