CastleKnight Management LP Boosts Holdings in Tenet Healthcare Co. (NYSE:THC)

CastleKnight Management LP raised its stake in shares of Tenet Healthcare Co. (NYSE:THC - Free Report) by 265.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 12,800 shares of the company's stock after acquiring an additional 9,300 shares during the period. CastleKnight Management LP's holdings in Tenet Healthcare were worth $1,616,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. EverSource Wealth Advisors LLC grew its holdings in Tenet Healthcare by 9.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 940 shares of the company's stock valued at $119,000 after buying an additional 80 shares during the last quarter. GeoWealth Management LLC increased 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 buying an additional 84 shares during the last quarter. Spire Wealth Management increased its position in Tenet Healthcare by 19.5% during the 4th quarter. Spire Wealth Management now owns 558 shares of the company's stock worth $70,000 after purchasing an additional 91 shares in the last quarter. CIBC Private Wealth Group LLC lifted its holdings in shares of Tenet Healthcare by 1.7% during the 4th quarter. CIBC Private Wealth Group LLC now owns 5,619 shares of the company's stock valued at $732,000 after acquiring an additional 92 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its position in Tenet Healthcare by 1.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 8,109 shares of the company's stock valued at $1,024,000 after acquiring an additional 100 shares in the last quarter. 95.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

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 of the company's stock, valued at approximately $3,434,022.54. This represents a 25.81 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.81% of the stock is owned by corporate insiders.

Tenet Healthcare Stock Performance

Shares of Tenet Healthcare stock opened at $149.01 on Tuesday. The company has a quick ratio of 1.70, a current ratio of 1.78 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. The business has a fifty day simple moving average of $127.44 and a 200-day simple moving average of $136.00. The stock has a market cap of $13.84 billion, a PE ratio of 4.62, a price-to-earnings-growth ratio of 1.02 and a beta of 1.63.

Tenet Healthcare (NYSE:THC - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $4.36 EPS for the quarter, beating analysts' consensus estimates of $3.11 by $1.25. The firm had revenue of $5.22 billion for the quarter, compared to the consensus estimate of $5.15 billion. Tenet Healthcare had a net margin of 15.48% and a return on equity of 21.88%. The firm's revenue was down 2.5% on a year-over-year basis. During the same period in the previous year, the firm posted $3.22 earnings per share. On average, sell-side analysts anticipate that Tenet Healthcare Co. will post 12.24 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have weighed in on THC. The Goldman Sachs Group raised their price objective on shares of Tenet Healthcare from $134.00 to $154.00 and gave the stock a "neutral" rating in a report on Monday. Truist Financial decreased 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. Barclays raised their target price on shares of Tenet Healthcare from $161.00 to $171.00 and gave the stock an "overweight" rating in a report on Wednesday, April 30th. KeyCorp dropped their price target on Tenet Healthcare from $200.00 to $185.00 and set an "overweight" rating on the stock in a research report on Tuesday, January 7th. Finally, StockNews.com upgraded Tenet Healthcare from a "hold" rating to a "buy" rating in a research note on Thursday, May 1st. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, Tenet Healthcare presently has a consensus rating of "Moderate Buy" and an average target price of $173.69.

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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