Los Angeles Capital Management LLC Purchases 13,030 Shares of Tenet Healthcare Corporation (NYSE:THC)

Los Angeles Capital Management LLC increased its holdings in shares of Tenet Healthcare Corporation (NYSE:THC - Free Report) by 11.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 124,811 shares of the company's stock after acquiring an additional 13,030 shares during the quarter. Los Angeles Capital Management LLC owned about 0.13% of Tenet Healthcare worth $16,787,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of THC. Norges Bank acquired a new stake in Tenet Healthcare during the 4th quarter worth approximately $190,819,000. Raymond James Financial Inc. bought a new stake in Tenet Healthcare during the 4th quarter valued at $49,001,000. Renaissance Technologies LLC increased its stake in Tenet Healthcare by 579.2% during the 4th quarter. Renaissance Technologies LLC now owns 438,563 shares of the company's stock valued at $55,360,000 after purchasing an additional 373,988 shares in the last quarter. Bridgewater Associates LP increased its stake in Tenet Healthcare by 225.4% during the 4th quarter. Bridgewater Associates LP now owns 407,194 shares of the company's stock valued at $51,400,000 after purchasing an additional 282,071 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Tenet Healthcare by 22.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,493,532 shares of the company's stock valued at $188,524,000 after purchasing an additional 272,906 shares in the last quarter. 95.44% of the stock is owned by institutional investors.

Tenet Healthcare Stock Performance

NYSE THC traded down $0.34 during trading hours on Monday, hitting $174.72. The company's stock had a trading volume of 2,589,103 shares, compared to its average volume of 1,153,763. Tenet Healthcare Corporation has a 12 month low of $109.82 and a 12 month high of $179.91. The company's 50 day simple moving average is $168.41 and its two-hundred day simple moving average is $144.34. The company has a market cap of $16.23 billion, a P/E ratio of 13.43, a price-to-earnings-growth ratio of 1.35 and a beta of 1.64. The company has a debt-to-equity ratio of 2.23, a current ratio of 1.78 and a quick ratio of 1.70.

Tenet Healthcare (NYSE:THC - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The company reported $4.36 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.11 by $1.25. Tenet Healthcare had a return on equity of 22.58% and a net margin of 7.09%. The business 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 company posted $3.22 EPS. The business's quarterly revenue was down 2.5% compared to the same quarter last year. As a group, sell-side analysts expect that Tenet Healthcare Corporation will post 12.24 EPS for the current fiscal year.

Wall Street Analyst Weigh In

THC has been the topic of several recent research reports. Barclays upped their price objective on shares of Tenet Healthcare from $171.00 to $215.00 and gave the company an "overweight" rating in a report on Monday, June 2nd. Truist Financial set a $205.00 price objective on shares of Tenet Healthcare and gave the company a "buy" rating in a report on Wednesday, July 16th. The Goldman Sachs Group upped their price objective on shares of Tenet Healthcare from $134.00 to $154.00 and gave the company a "neutral" rating in a report on Monday, May 5th. Wall Street Zen downgraded shares of Tenet Healthcare from a "buy" rating to a "hold" rating in a report on Friday. Finally, Bank of America increased their price target on shares of Tenet Healthcare from $165.00 to $180.00 and gave the stock a "buy" rating in a report on Wednesday, May 14th. Four analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $185.41.

Insiders Place Their Bets

In other Tenet Healthcare news, EVP Paola M. Arbour sold 7,738 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $173.00, for a total value of $1,338,674.00. Following the sale, the executive vice president directly owned 20,110 shares of the company's stock, valued at approximately $3,479,030. This trade represents a 27.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard W. Fisher sold 836 shares of Tenet Healthcare stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $173.16, for a total value of $144,761.76. Following the completion of the sale, the director owned 11,292 shares in the company, valued at $1,955,322.72. This represents a 6.89% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 54,121 shares of company stock worth $8,846,305. 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.