Aristeia Capital L.L.C. Acquires New Stake in Tenet Healthcare Co. (NYSE:THC)

Aristeia Capital L.L.C. bought a new stake in Tenet Healthcare Co. (NYSE:THC - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 6,791 shares of the company's stock, valued at approximately $857,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Geode Capital Management LLC lifted 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 worth $268,591,000 after purchasing an additional 71,454 shares during the period. Norges Bank bought a new position in shares of Tenet Healthcare during the fourth quarter worth about $190,819,000. Dimensional Fund Advisors LP lifted its position in shares of Tenet Healthcare by 22.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,493,532 shares of the company's stock worth $188,524,000 after purchasing an additional 272,906 shares during the period. AQR Capital Management LLC lifted its holdings in Tenet Healthcare by 20.8% in the fourth quarter. AQR Capital Management LLC now owns 872,117 shares of the company's stock valued at $110,087,000 after buying an additional 150,361 shares during the period. Finally, Northern Trust Corp boosted its position in shares of Tenet Healthcare by 22.0% during the 4th quarter. Northern Trust Corp now owns 848,049 shares of the company's stock valued at $107,049,000 after purchasing an additional 152,671 shares in the last quarter. 95.44% of the stock is owned by institutional investors.

Tenet Healthcare Price Performance

Tenet Healthcare stock traded up $0.68 during midday trading on Wednesday, reaching $152.16. 1,234,913 shares of the stock were exchanged, compared to its average volume of 1,550,856. The firm has a market cap of $14.13 billion, a PE ratio of 4.72, a PEG ratio of 1.02 and a beta of 1.63. Tenet Healthcare Co. has a 52 week low of $109.82 and a 52 week high of $171.20. The company's fifty day moving average is $127.86 and its 200-day moving average is $136.11. 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 (NYSE:THC - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $4.36 EPS for the quarter, topping the consensus estimate of $3.11 by $1.25. Tenet Healthcare had a return on equity of 21.88% and a net margin of 15.48%. The company had revenue of $5.22 billion during the quarter, compared to analyst estimates of $5.15 billion. During the same quarter in the previous year, the firm earned $3.22 earnings per share. Tenet Healthcare's revenue was down 2.5% on a year-over-year basis. On average, sell-side analysts forecast that Tenet Healthcare Co. will post 12.24 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Guggenheim initiated coverage on shares of Tenet Healthcare in a research note on Wednesday, April 9th. They set a "buy" rating and a $165.00 target price on the stock. Robert W. Baird restated a "neutral" rating and set a $137.00 price target (down previously from $153.00) on shares of Tenet Healthcare in a research note on Tuesday, April 15th. TD Cowen assumed coverage on Tenet Healthcare in a research note on Wednesday, February 26th. They set a "buy" rating and a $175.00 price target for the company. KeyCorp decreased their price target on Tenet Healthcare from $200.00 to $185.00 and set an "overweight" rating for the company in a report on Tuesday, January 7th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $177.00 target price on shares of Tenet Healthcare in a research note on Thursday, February 13th. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $173.69.

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 sale, 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 filing with the SEC, which is available through this link. 0.81% of the stock is owned by insiders.

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.