Bellevue Group AG Buys 104,605 Shares of Tenet Healthcare Co. (NYSE:THC)

Bellevue Group AG boosted its stake in Tenet Healthcare Co. (NYSE:THC - Free Report) by 1,859.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 110,230 shares of the company's stock after acquiring an additional 104,605 shares during the period. Bellevue Group AG owned 0.12% of Tenet Healthcare worth $13,914,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in Tenet Healthcare in the fourth quarter valued at $190,819,000. Wealthfront Advisers LLC acquired a new stake in Tenet Healthcare during the fourth quarter worth approximately $69,059,000. Raymond James Financial Inc. acquired a new position in Tenet Healthcare in the fourth quarter valued at approximately $49,001,000. Renaissance Technologies LLC grew its position in shares of Tenet Healthcare by 579.2% during the 4th quarter. Renaissance Technologies LLC now owns 438,563 shares of the company's stock worth $55,360,000 after buying an additional 373,988 shares during the period. Finally, Bridgewater Associates LP grew its holdings in Tenet Healthcare by 225.4% in the fourth quarter. Bridgewater Associates LP now owns 407,194 shares of the company's stock worth $51,400,000 after purchasing an additional 282,071 shares during the period. Institutional investors own 95.44% of the company's stock.

Tenet Healthcare Stock Up 2.0 %

Shares of NYSE THC opened at $148.21 on Friday. The business has a 50-day moving average of $127.09 and a 200-day moving average of $136.28. The firm has a market capitalization of $13.99 billion, a price-to-earnings ratio of 4.60, a PEG ratio of 1.02 and a beta of 1.77. The company has a current ratio of 1.78, a quick ratio of 1.70 and a debt-to-equity ratio of 2.25. Tenet Healthcare Co. has a 12 month low of $109.82 and a 12 month high of $171.20.

Tenet Healthcare (NYSE:THC - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $4.36 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $5.15 billion. During the same period in the previous year, the firm posted $3.22 EPS. The firm's revenue was down 2.5% compared to the same quarter last year. Sell-side analysts expect that Tenet Healthcare Co. will post 12.24 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director J Robert Kerrey sold 9,525 shares of Tenet Healthcare stock in a transaction 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 $3,434,022.54. This trade represents a 25.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.81% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts have issued reports on THC shares. Truist Financial cut their price target on Tenet Healthcare from $190.00 to $175.00 and set a "buy" rating on the stock in a report on Monday, January 6th. Cantor Fitzgerald restated an "overweight" rating and issued a $177.00 target price on shares of Tenet Healthcare in a report on Thursday, February 13th. UBS Group increased their price target on Tenet Healthcare from $217.00 to $230.00 and gave the company a "buy" rating in a research report on Wednesday. Guggenheim started coverage on shares of Tenet Healthcare in a report on Wednesday, April 9th. They set a "buy" rating and a $165.00 price objective on the stock. Finally, 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 target on the stock. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $172.19.

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.

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