Tenet Healthcare Corporation (NYSE:THC) Holdings Lifted by GSA Capital Partners LLP

Key Points

• GSA Capital Partners LLP increased its holdings in Tenet Healthcare by 44.2%, owning 6,943 shares valued at $934,000 after purchasing an additional 2,129 shares.
• Total institutional ownership of Tenet Healthcare stands at 95.44%, with multiple hedge funds also boosting their stakes recently.
• Tenet Healthcare reported an EPS of $4.02 for the last quarter, exceeding analyst estimates, and had a revenue increase of 3.2% year-over-year.

GSA Capital Partners LLP raised its holdings in Tenet Healthcare Corporation (NYSE:THC - Free Report) by 44.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,943 shares of the company's stock after buying an additional 2,129 shares during the quarter. GSA Capital Partners LLP's holdings in Tenet Healthcare were worth $934,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Geode Capital Management LLC grew its holdings in Tenet Healthcare by 3.5% in the 4th quarter. Geode Capital Management LLC now owns 2,116,121 shares of the company's stock valued at $268,591,000 after buying an additional 71,454 shares during the period. Dimensional Fund Advisors LP increased its stake in Tenet Healthcare by 22.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,493,532 shares of the company's stock worth $188,524,000 after acquiring an additional 272,906 shares during the last quarter. AQR Capital Management LLC increased its stake in Tenet Healthcare by 20.8% during the fourth quarter. AQR Capital Management LLC now owns 872,117 shares of the company's stock worth $110,087,000 after acquiring an additional 150,361 shares during the last quarter. Northern Trust Corp increased its stake in Tenet Healthcare by 22.0% during the fourth quarter. Northern Trust Corp now owns 848,049 shares of the company's stock worth $107,049,000 after acquiring an additional 152,671 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Tenet Healthcare by 1.6% during the first quarter. Bank of New York Mellon Corp now owns 815,126 shares of the company's stock worth $109,634,000 after acquiring an additional 13,057 shares during the last quarter. Hedge funds and other institutional investors own 95.44% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Wolfe Research lowered Tenet Healthcare from an "outperform" rating to a "peer perform" rating in a research note on Monday, July 28th. Wells Fargo & Company upgraded Tenet Healthcare from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $150.00 to $195.00 in a report on Thursday, May 29th. Royal Bank Of Canada upped their price target on Tenet Healthcare from $183.00 to $189.00 and gave the stock an "outperform" rating in a report on Wednesday, April 30th. UBS Group upped their price target on Tenet Healthcare from $230.00 to $238.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Finally, Barclays decreased their price target on Tenet Healthcare from $215.00 to $208.00 and set an "overweight" rating for the company in a report on Thursday, July 24th. Four investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $190.00.

Tenet Healthcare Stock Performance

Shares of THC stock traded down $3.22 on Friday, hitting $158.06. 1,034,084 shares of the stock traded hands, compared to its average volume of 1,687,722. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.71 and a quick ratio of 1.63. The company has a market capitalization of $13.96 billion, a PE ratio of 10.12, a PEG ratio of 0.67 and a beta of 1.52. Tenet Healthcare Corporation has a 1-year low of $109.82 and a 1-year high of $185.25. The company's fifty day moving average is $167.58 and its 200 day moving average is $146.33.

Tenet Healthcare (NYSE:THC - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The company reported $4.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.84 by $1.18. The business had revenue of $5.27 billion for the quarter, compared to analyst estimates of $5.16 billion. Tenet Healthcare had a return on equity of 24.69% and a net margin of 7.17%. The business's revenue was up 3.2% compared to the same quarter last year. During the same period in the prior year, the company posted $2.31 EPS. On average, equities research analysts predict that Tenet Healthcare Corporation will post 12.24 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Paola M. Arbour sold 7,738 shares of the company's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $173.00, for a total transaction of $1,338,674.00. Following the completion of the transaction, the executive vice president directly owned 20,110 shares in the company, valued at $3,479,030. This represents a 27.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard W. Fisher sold 3,077 shares of the company's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $165.72, for a total value of $509,920.44. Following the transaction, the director owned 12,128 shares of the company's stock, valued at approximately $2,009,852.16. The trade was a 20.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 54,121 shares of company stock worth $8,846,305 over the last 90 days. Insiders own 0.81% of the company's stock.

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.