Tenet Healthcare Corporation $THC Shares Newly Bought by EULAV Asset Management

Key Points

• EULAV Asset Management acquired 12,444 Tenet Healthcare shares worth approximately $3.18 million during the third quarter. Institutional investors and hedge funds collectively own 95.44% of THC’s outstanding stock.
• Tenet reported quarterly earnings of $6.12 per share, exceeding estimates of $4.26, while revenue reached $6.04 billion and increased 6.8% year over year.
• Analysts remain broadly positive, with 18 Buy ratings and three Holds; the stock has a “Moderate Buy” consensus rating and an average price target of $278.45.

EULAV Asset Management acquired a new stake in Tenet Healthcare Corporation (NYSE:THC - Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 12,444 shares of the company's stock, valued at approximately $3,180,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Manning & Napier Advisors LLC acquired a new stake in shares of Tenet Healthcare in the second quarter valued at approximately $168,761,000. Arrowstreet Capital Limited Partnership boosted its position in shares of Tenet Healthcare by 57.4% during the first quarter. Arrowstreet Capital Limited Partnership now owns 671,700 shares of the company's stock worth $126,757,000 after buying an additional 244,901 shares during the period. Bank of New York Mellon Corp bought a new position in Tenet Healthcare in the 2nd quarter worth approximately $106,342,000. Empowered Funds LLC grew its holdings in Tenet Healthcare by 22.1% in the 1st quarter. Empowered Funds LLC now owns 284,753 shares of the company's stock worth $53,736,000 after buying an additional 51,549 shares in the last quarter. Finally, Hsbc Holdings PLC increased its position in Tenet Healthcare by 3,478.7% in the 4th quarter. Hsbc Holdings PLC now owns 266,400 shares of the company's stock valued at $53,269,000 after acquiring an additional 258,956 shares during the period. 95.44% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Tenet Healthcare

In other news, Director Richard Mark sold 10,000 shares of Tenet Healthcare stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $263.42, for a total transaction of $2,634,200.00. Following the transaction, the director directly owned 25,121 shares in the company, valued at approximately $6,617,373.82. This trade represents a 28.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Saumya Sutaria sold 50,000 shares of the company's stock in a transaction on Monday, August 24th. The shares were sold at an average price of $278.71, for a total value of $13,935,500.00. Following the completion of the sale, the chief executive officer owned 483,564 shares of the company's stock, valued at approximately $134,774,122.44. This trade represents a 9.37% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 116,484 shares of company stock worth $31,478,363 in the last quarter. Company insiders own 0.97% of the company's stock.

Tenet Healthcare Trading Down 0.1%

Tenet Healthcare stock opened at $268.13 on Monday. Tenet Healthcare Corporation has a 12-month low of $157.58 and a 12-month high of $283.05. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.41 and a quick ratio of 1.35. The stock has a market capitalization of $21.59 billion, a PE ratio of 10.34, a price-to-earnings-growth ratio of 1.02 and a beta of 1.20. The firm has a 50 day simple moving average of $264.88 and a 200-day simple moving average of $222.13.

Tenet Healthcare (NYSE:THC - Get Free Report) last announced its earnings results on Thursday, July 23rd. The company reported $6.12 EPS for the quarter, topping the consensus estimate of $4.26 by $1.86. The firm had revenue of $6.04 billion for the quarter, compared to analysts' expectations of $5.43 billion. Tenet Healthcare had a return on equity of 26.76% and a net margin of 10.27%. The firm's quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.02 earnings per share. As a group, equities research analysts expect that Tenet Healthcare Corporation will post 21.04 EPS for the current fiscal year.

Analysts Set New Price Targets

THC has been the topic of several recent analyst reports. Mizuho set a $290.00 target price on Tenet Healthcare in a research note on Monday, August 10th. Wall Street Zen raised Tenet Healthcare from a "buy" rating to a "strong-buy" rating in a research note on Saturday, October 17th. Weiss Ratings raised Tenet Healthcare from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday, October 8th. Guggenheim raised their price target on Tenet Healthcare from $283.00 to $307.00 and gave the company a "buy" rating in a report on Friday, October 16th. Finally, UBS Group lifted their price objective on shares of Tenet Healthcare from $288.00 to $308.00 and gave the company a "buy" rating in a research note on Monday, July 27th. Eighteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $278.45.

About Tenet Healthcare

Tenet Healthcare Corp. NYSE: THC is a diversified healthcare services company headquartered in Dallas, Texas. Through its hospital operations and outpatient platforms, the company provides a range of medical services to patients across the United States.

Tenet operates acute care and specialty hospitals, ambulatory surgery centers, imaging facilities and other outpatient care sites. Its United Surgical Partners International subsidiary is a major provider of ambulatory surgery services and partners with physicians and health systems.

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