Tenet Healthcare Co. (NYSE:THC) Position Boosted by Graham Capital Management L.P.

Graham Capital Management L.P. boosted its stake in shares of Tenet Healthcare Co. (NYSE:THC - Free Report) by 59.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,395 shares of the company's stock after purchasing an additional 11,321 shares during the quarter. Graham Capital Management L.P.'s holdings in Tenet Healthcare were worth $3,837,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in THC. Colonial Trust Co SC raised its stake in Tenet Healthcare by 85.7% during the 4th quarter. Colonial Trust Co SC now owns 247 shares of the company's stock worth $31,000 after acquiring an additional 114 shares in the last quarter. GeoWealth Management LLC boosted its position in shares of Tenet Healthcare by 39.8% in the 4th quarter. GeoWealth Management LLC now owns 295 shares of the company's stock valued at $37,000 after purchasing an additional 84 shares during the period. WR Wealth Planners LLC increased its position in Tenet Healthcare by 2,836.4% during the fourth quarter. WR Wealth Planners LLC now owns 323 shares of the company's stock worth $41,000 after buying an additional 312 shares during the period. Smartleaf Asset Management LLC lifted its stake in Tenet Healthcare by 30.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 471 shares of the company's stock valued at $59,000 after buying an additional 110 shares during the last quarter. Finally, Kestra Investment Management LLC purchased a new position in Tenet Healthcare during the 4th quarter worth $60,000. Institutional investors and hedge funds own 95.44% of the company's stock.

Tenet Healthcare Stock Performance

NYSE:THC traded up $3.54 during mid-day trading on Tuesday, hitting $158.11. The stock had a trading volume of 1,715,212 shares, compared to its average volume of 1,541,135. Tenet Healthcare Co. has a 52 week low of $109.82 and a 52 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. The stock has a market capitalization of $14.69 billion, a price-to-earnings ratio of 4.91, a P/E/G ratio of 1.02 and a beta of 1.63. The company has a 50 day simple moving average of $130.60 and a 200-day simple moving average of $136.09.

Tenet Healthcare (NYSE:THC - Get Free Report) last announced its 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. The firm had revenue of $5.22 billion during the quarter, compared to analyst estimates of $5.15 billion. Tenet Healthcare had a net margin of 15.48% and a return on equity of 21.88%. Tenet Healthcare's revenue was down 2.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.22 EPS. On average, research analysts expect that Tenet Healthcare Co. will post 12.24 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

THC has been the topic of a number of recent research reports. TD Cowen initiated coverage on Tenet Healthcare in a report on Wednesday, February 26th. They issued a "buy" rating and a $175.00 target price on the stock. Cantor Fitzgerald reissued an "overweight" rating and issued a $177.00 target price on shares of Tenet Healthcare in a report on Thursday, February 13th. Barclays raised their price target on Tenet Healthcare from $161.00 to $171.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 30th. 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. Finally, Truist Financial boosted their target price on shares of Tenet Healthcare from $175.00 to $190.00 and gave the company a "buy" rating in a report on Monday. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, Tenet Healthcare currently has a consensus rating of "Moderate Buy" and an average price target of $174.63.

Insider Buying and Selling

In other news, Director J Robert Kerrey sold 5,001 shares of Tenet Healthcare stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $148.50, for a total value of $742,648.50. Following the transaction, the director now owns 22,377 shares of the company's stock, valued at $3,322,984.50. The trade was a 18.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.81% of the stock is 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.