Sector Gamma AS Raises Holdings in Tenet Healthcare Co. (NYSE:THC)

Sector Gamma AS grew its stake in Tenet Healthcare Co. (NYSE:THC - Free Report) by 22.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 193,279 shares of the company's stock after buying an additional 35,304 shares during the period. Tenet Healthcare makes up about 3.5% of Sector Gamma AS's holdings, making the stock its 12th biggest holding. Sector Gamma AS owned 0.19% of Tenet Healthcare worth $14,606,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. grew its stake in Tenet Healthcare by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 10,937,483 shares of the company's stock worth $720,671,000 after buying an additional 63,253 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Tenet Healthcare by 2.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,026,724 shares of the company's stock worth $67,651,000 after buying an additional 26,613 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its stake in Tenet Healthcare by 3.3% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 786,852 shares of the company's stock worth $51,846,000 after buying an additional 25,077 shares in the last quarter. BW Gestao de Investimentos Ltda. boosted its stake in shares of Tenet Healthcare by 288.4% in the 3rd quarter. BW Gestao de Investimentos Ltda. now owns 468,871 shares of the company's stock valued at $30,894,000 after purchasing an additional 348,151 shares in the last quarter. Finally, Loomis Sayles & Co. L P boosted its stake in shares of Tenet Healthcare by 5.0% in the 3rd quarter. Loomis Sayles & Co. L P now owns 447,145 shares of the company's stock valued at $29,462,000 after purchasing an additional 21,237 shares in the last quarter. Hedge funds and other institutional investors own 95.44% of the company's stock.

Insider Activity at Tenet Healthcare

In related news, Director Richard W. Fisher sold 2,100 shares of the stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $88.21, for a total transaction of $185,241.00. Following the sale, the director now directly owns 20,127 shares of the company's stock, valued at approximately $1,775,402.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Thomas W. Arnst sold 17,000 shares of the firm's stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $94.84, for a total transaction of $1,612,280.00. Following the sale, the executive vice president now owns 8,148 shares of the company's stock, valued at approximately $772,756.32. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Richard W. Fisher sold 2,100 shares of the stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $88.21, for a total transaction of $185,241.00. Following the completion of the transaction, the director now owns 20,127 shares in the company, valued at approximately $1,775,402.67. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 51,268 shares of company stock valued at $4,944,810. 0.93% of the stock is owned by insiders.

Tenet Healthcare Stock Down 1.4 %

Shares of Tenet Healthcare stock traded down $1.38 during trading on Friday, hitting $96.13. The company's stock had a trading volume of 1,322,951 shares, compared to its average volume of 960,623. The company has a debt-to-equity ratio of 4.77, a quick ratio of 1.42 and a current ratio of 1.51. The company has a fifty day simple moving average of $98.22 and a two-hundred day simple moving average of $80.54. The company has a market capitalization of $9.54 billion, a PE ratio of 16.84, a P/E/G ratio of 3.12 and a beta of 2.08. Tenet Healthcare Co. has a 52 week low of $51.04 and a 52 week high of $107.80.

Tenet Healthcare (NYSE:THC - Get Free Report) last issued its quarterly earnings results on Thursday, February 8th. The company reported $2.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $1.10. The company had revenue of $5.38 billion during the quarter, compared to analyst estimates of $5.28 billion. Tenet Healthcare had a net margin of 2.97% and a return on equity of 26.34%. Tenet Healthcare's quarterly revenue was up 7.8% compared to the same quarter last year. During the same period last year, the business earned $1.96 EPS. Equities research analysts predict that Tenet Healthcare Co. will post 6.3 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on THC shares. Truist Financial upped their price objective on shares of Tenet Healthcare from $92.00 to $105.00 and gave the company a "buy" rating in a research note on Friday, February 9th. Royal Bank of Canada upped their price objective on shares of Tenet Healthcare from $97.00 to $109.00 and gave the company an "outperform" rating in a research note on Friday, February 9th. Wolfe Research upgraded shares of Tenet Healthcare from a "peer perform" rating to an "outperform" rating and set a $122.00 price target for the company in a report on Wednesday, March 27th. Cantor Fitzgerald reiterated an "overweight" rating and set a $104.00 price target on shares of Tenet Healthcare in a report on Wednesday, April 10th. Finally, Wells Fargo & Company upped their price target on shares of Tenet Healthcare from $105.00 to $115.00 and gave the company an "overweight" rating in a report on Thursday, March 28th. One research analyst has rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Tenet Healthcare has an average rating of "Buy" and a consensus target price of $100.38.

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.