Gotham Asset Management LLC Purchases 41,978 Shares of Tenet Healthcare Co. (NYSE:THC)

Gotham Asset Management LLC raised its position in shares of Tenet Healthcare Co. (NYSE:THC - Free Report) by 58.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 114,181 shares of the company's stock after purchasing an additional 41,978 shares during the quarter. Gotham Asset Management LLC owned about 0.12% of Tenet Healthcare worth $14,413,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of THC. EverSource Wealth Advisors LLC increased its position in Tenet Healthcare by 9.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 940 shares of the company's stock worth $119,000 after buying an additional 80 shares during the last quarter. GeoWealth Management LLC boosted its stake in shares of Tenet Healthcare by 39.8% during the 4th quarter. GeoWealth Management LLC now owns 295 shares of the company's stock worth $37,000 after acquiring an additional 84 shares in the last quarter. Spire Wealth Management increased its holdings in shares of Tenet Healthcare by 19.5% during the 4th quarter. Spire Wealth Management now owns 558 shares of the company's stock valued at $70,000 after acquiring an additional 91 shares during the last quarter. CIBC Private Wealth Group LLC raised its stake in shares of Tenet Healthcare by 1.7% in the 4th quarter. CIBC Private Wealth Group LLC now owns 5,619 shares of the company's stock valued at $732,000 after acquiring an additional 92 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in Tenet Healthcare by 1.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 8,109 shares of the company's stock worth $1,024,000 after purchasing an additional 100 shares during the last quarter. 95.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have issued reports on THC shares. UBS Group upped their price target on shares of Tenet Healthcare from $217.00 to $230.00 and gave the company a "buy" rating in a report on Wednesday, April 30th. Truist Financial increased their target price on Tenet Healthcare from $175.00 to $190.00 and gave the company a "buy" rating in a research note on Monday. Cantor Fitzgerald reiterated an "overweight" rating and set a $177.00 price target on shares of Tenet Healthcare in a report on Thursday, February 13th. Baird R W downgraded shares of Tenet Healthcare from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 15th. Finally, Barclays increased their target price on shares of Tenet Healthcare from $161.00 to $171.00 and gave the company an "overweight" rating in a research note on Wednesday, April 30th. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $174.63.

Tenet Healthcare Price Performance

Tenet Healthcare stock traded up $3.54 during mid-day trading on Tuesday, hitting $158.11. 1,715,212 shares of the company were exchanged, compared to its average volume of 1,541,135. Tenet Healthcare Co. has a 1-year low of $109.82 and a 1-year high of $171.20. The company has a quick ratio of 1.70, a current ratio of 1.78 and a debt-to-equity ratio of 2.25. The business has a fifty day moving average of $130.60 and a 200 day moving average of $136.09. The company has a market capitalization of $14.69 billion, a PE ratio of 4.91, a price-to-earnings-growth ratio of 1.02 and a beta of 1.63.

Tenet Healthcare (NYSE:THC - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The company reported $4.36 EPS for the quarter, beating 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 firm had revenue of $5.22 billion for the quarter, compared to analyst estimates of $5.15 billion. During the same period in the previous year, the business earned $3.22 earnings per share. The company's revenue for the quarter was down 2.5% compared to the same quarter last year. As a group, sell-side analysts expect that Tenet Healthcare Co. will post 12.24 earnings per share for the current year.

Insider Activity

In other Tenet Healthcare news, 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 sale, the director now owns 27,378 shares of the company's stock, valued at $3,434,022.54. This represents a 25.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.81% of the stock is currently owned by corporate insiders.

Tenet Healthcare Company 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.