Levin Capital Strategies L.P. Purchases Shares of 22,286 Tenet Healthcare Co. (NYSE:THC)

Levin Capital Strategies L.P. acquired a new position in shares of Tenet Healthcare Co. (NYSE:THC - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 22,286 shares of the company's stock, valued at approximately $1,684,000.

Other hedge funds have also bought and sold shares of the company. Sivik Global Healthcare LLC raised its holdings in Tenet Healthcare by 3.6% in the 4th quarter. Sivik Global Healthcare LLC now owns 145,000 shares of the company's stock valued at $10,958,000 after acquiring an additional 5,000 shares during the period. SummerHaven Investment Management LLC raised its holdings in Tenet Healthcare by 1.7% in the 4th quarter. SummerHaven Investment Management LLC now owns 8,685 shares of the company's stock valued at $656,000 after acquiring an additional 145 shares during the period. Retirement Systems of Alabama raised its holdings in Tenet Healthcare by 0.3% in the 4th quarter. Retirement Systems of Alabama now owns 127,189 shares of the company's stock valued at $9,612,000 after acquiring an additional 412 shares during the period. Sector Gamma AS raised its holdings in Tenet Healthcare by 22.3% in the 4th quarter. Sector Gamma AS now owns 193,279 shares of the company's stock valued at $14,606,000 after acquiring an additional 35,304 shares during the period. Finally, Russell Investments Group Ltd. raised its holdings in Tenet Healthcare by 1.6% in the 4th quarter. Russell Investments Group Ltd. now owns 195,386 shares of the company's stock valued at $14,766,000 after acquiring an additional 3,009 shares during the period. 95.44% of the stock is currently owned by institutional investors and hedge funds.

Tenet Healthcare Price Performance

Tenet Healthcare stock traded up $3.01 during mid-day trading on Thursday, reaching $118.96. The company had a trading volume of 1,988,277 shares, compared to its average volume of 1,202,767. Tenet Healthcare Co. has a fifty-two week low of $51.04 and a fifty-two week high of $120.03. The company has a current ratio of 1.44, a quick ratio of 1.42 and a debt-to-equity ratio of 2.58. The company has a market cap of $11.80 billion, a P/E ratio of 4.62, a P/E/G ratio of 2.55 and a beta of 2.09. The business has a fifty day simple moving average of $99.29 and a 200 day simple moving average of $81.68.

Tenet Healthcare (NYSE:THC - Get Free Report) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $3.22 EPS for the quarter, topping analysts' consensus estimates of $1.45 by $1.77. The company had revenue of $5.37 billion for the quarter, compared to analyst estimates of $5.15 billion. Tenet Healthcare had a net margin of 12.53% and a return on equity of 26.76%. Tenet Healthcare's revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.42 earnings per share. On average, equities research analysts predict that Tenet Healthcare Co. will post 8.89 earnings per share for the current year.

Analysts Set New Price Targets

THC has been the topic of several recent research reports. Truist Financial reaffirmed a "buy" rating and set a $130.00 target price (up from $120.00) on shares of Tenet Healthcare in a report on Wednesday. UBS Group raised their target price on shares of Tenet Healthcare from $137.00 to $150.00 and gave the stock a "buy" rating in a report on Wednesday. Wells Fargo & Company raised their target price on shares of Tenet Healthcare from $105.00 to $115.00 and gave the stock an "overweight" rating in a report on Thursday, March 28th. TheStreet raised shares of Tenet Healthcare from a "c+" rating to a "b-" rating in a report on Tuesday, February 6th. Finally, Barclays increased their price target on shares of Tenet Healthcare from $113.00 to $147.00 and gave the stock an "overweight" rating in a research report on Thursday. One analyst has rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $113.19.

Insider Transactions at Tenet Healthcare

In related news, Director Richard W. Fisher sold 2,100 shares of Tenet Healthcare stock in a transaction on Wednesday, February 14th. The shares were 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 of the company's stock, valued at $1,775,402.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Tenet Healthcare news, Director Richard W. Fisher sold 2,100 shares of Tenet Healthcare stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $88.21, for a total value of $185,241.00. Following the completion of the sale, the director now directly owns 20,127 shares of the company's stock, valued at $1,775,402.67. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Richard J. Mark sold 14,000 shares of Tenet Healthcare stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $98.98, for a total transaction of $1,385,720.00. Following the completion of the sale, the director now directly owns 33,303 shares of the company's stock, valued at $3,296,330.94. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 51,268 shares of company stock worth $4,944,810. Company insiders own 0.93% of the company's stock.

About Tenet Healthcare

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.