Man Group plc Purchases 15,164 Shares of Tenet Healthcare Co. (NYSE:THC)

Man Group plc grew its position in Tenet Healthcare Co. (NYSE:THC - Free Report) by 21.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 86,005 shares of the company's stock after purchasing an additional 15,164 shares during the period. Man Group plc owned approximately 0.09% of Tenet Healthcare worth $10,856,000 as of its most recent SEC filing.

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

Insider Buying and Selling at Tenet Healthcare

In other news, EVP Paola M. Arbour sold 6,461 shares of the company's stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $160.20, for a total value of $1,035,052.20. Following the transaction, the executive vice president now directly owns 27,848 shares of the company's stock, valued at approximately $4,461,249.60. This represents a 18.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director J Robert Kerrey sold 5,001 shares of the company's stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $148.50, for a total value of $742,648.50. Following the completion of the transaction, the director now directly owns 22,377 shares in the company, valued at approximately $3,322,984.50. The trade was a 18.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 20,987 shares of company stock worth $2,972,421. 0.81% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on THC. The Goldman Sachs Group increased 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. Robert W. Baird reiterated a "neutral" rating and set a $137.00 price target (down from $153.00) on shares of Tenet Healthcare in a research report on Tuesday, April 15th. Bank of America upped their price objective on Tenet Healthcare from $165.00 to $180.00 and gave the company a "buy" rating in a report on Wednesday, May 14th. Guggenheim initiated coverage on shares of Tenet Healthcare in a research report on Wednesday, April 9th. They issued a "buy" rating and a $165.00 price target on the stock. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $177.00 price objective on shares of Tenet Healthcare in a research report on Thursday, February 13th. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $174.94.

Tenet Healthcare Stock Down 1.1%

NYSE:THC traded down $1.73 during trading hours on Thursday, hitting $161.10. 857,987 shares of the stock traded hands, compared to its average volume of 1,534,835. The firm has a 50 day moving average price of $135.48 and a 200 day moving average price of $136.64. The firm has a market cap of $14.96 billion, a price-to-earnings ratio of 5.00, a PEG ratio of 1.02 and a beta of 1.63. Tenet Healthcare Co. has a fifty-two week low of $109.82 and a fifty-two week high of $171.20. 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 (NYSE:THC - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $4.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.11 by $1.25. The firm had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $5.15 billion. Tenet Healthcare had a return on equity of 21.88% and a net margin of 15.48%. The business's revenue for the quarter was down 2.5% on a year-over-year basis. During the same period in the prior year, the business earned $3.22 EPS. Equities research analysts anticipate that Tenet Healthcare Co. will post 12.24 earnings per share for the current year.

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.