Two Sigma Investments LP Grows Holdings in Tenet Healthcare Co. (NYSE:THC)

Two Sigma Investments LP boosted its position in shares of Tenet Healthcare Co. (NYSE:THC - Free Report) by 134.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 257,943 shares of the company's stock after acquiring an additional 147,731 shares during the period. Two Sigma Investments LP owned about 0.27% of Tenet Healthcare worth $32,560,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. New Wave Wealth Advisors LLC acquired a new position in Tenet Healthcare during the 4th quarter worth approximately $343,000. Swedbank AB boosted its holdings in shares of Tenet Healthcare by 100.0% in the 4th quarter. Swedbank AB now owns 40,000 shares of the company's stock valued at $5,049,000 after buying an additional 20,000 shares in the last quarter. China Universal Asset Management Co. Ltd. acquired a new position in shares of Tenet Healthcare in the 4th quarter valued at $410,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in shares of Tenet Healthcare in the 4th quarter valued at $5,892,000. Finally, abrdn plc boosted its holdings in shares of Tenet Healthcare by 29.0% in the 4th quarter. abrdn plc now owns 98,229 shares of the company's stock valued at $12,320,000 after buying an additional 22,066 shares in the last quarter. Institutional investors and hedge funds own 95.44% of the company's stock.

Analyst Upgrades and Downgrades

THC has been the subject of several research analyst reports. Barclays upped their target price on shares of Tenet Healthcare from $161.00 to $171.00 and gave the company an "overweight" rating in a report on Wednesday, April 30th. Truist Financial increased their price target on shares of Tenet Healthcare from $175.00 to $190.00 and gave the stock a "buy" rating in a research note on Monday, May 12th. 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 research note on Wednesday, May 14th. Guggenheim initiated coverage on shares of Tenet Healthcare in a research note on Wednesday, April 9th. They set a "buy" rating and a $165.00 price target for the company. Finally, Baird R W cut shares of Tenet Healthcare from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 15th. Five research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, Tenet Healthcare currently has a consensus rating of "Moderate Buy" and a consensus target price of $174.94.

Insider Transactions at Tenet Healthcare

In related news, EVP Thomas W. Arnst sold 9,786 shares of the stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $166.00, for a total value of $1,624,476.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director J Robert Kerrey sold 9,525 shares of the stock in a transaction dated 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 in the company, valued at approximately $3,434,022.54. The trade was a 25.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,773 shares of company stock valued at $4,596,897 in the last ninety days. 0.81% of the stock is currently owned by company insiders.

Tenet Healthcare Price Performance

Shares of NYSE:THC traded up $1.72 on Friday, reaching $163.05. 1,248,741 shares of the company were exchanged, compared to its average volume of 1,531,916. 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 Co. has a 1-year low of $109.82 and a 1-year high of $171.20. The firm has a market cap of $15.14 billion, a price-to-earnings ratio of 5.06, a price-to-earnings-growth ratio of 1.02 and a beta of 1.63. The company has a 50-day moving average of $136.90 and a 200-day moving average of $136.60.

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