Polar Capital Holdings Plc Has $913,000 Stock Position in Tenet Healthcare Co. (NYSE:THC)

Polar Capital Holdings Plc lessened its position in shares of Tenet Healthcare Co. (NYSE:THC - Free Report) by 46.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,231 shares of the company's stock after selling 6,272 shares during the period. Polar Capital Holdings Plc's holdings in Tenet Healthcare were worth $913,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. grew its holdings in shares of Tenet Healthcare by 60.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 253,931 shares of the company's stock valued at $32,054,000 after acquiring an additional 96,106 shares in the last quarter. Park Avenue Securities LLC grew its holdings in Tenet Healthcare by 14.9% during the fourth quarter. Park Avenue Securities LLC now owns 14,190 shares of the company's stock worth $1,791,000 after purchasing an additional 1,837 shares during the period. Hennessy Advisors Inc. grew its holdings in Tenet Healthcare by 6.8% during the fourth quarter. Hennessy Advisors Inc. now owns 96,800 shares of the company's stock worth $12,219,000 after purchasing an additional 6,200 shares during the period. Wedge Capital Management L L P NC grew its holdings in Tenet Healthcare by 3.1% during the fourth quarter. Wedge Capital Management L L P NC now owns 238,465 shares of the company's stock worth $30,101,000 after purchasing an additional 7,112 shares during the period. Finally, Crossmark Global Holdings Inc. grew its holdings in Tenet Healthcare by 41.1% during the fourth quarter. Crossmark Global Holdings Inc. now owns 8,731 shares of the company's stock worth $1,102,000 after purchasing an additional 2,544 shares during the period. Institutional investors own 95.44% of the company's stock.

Insider Activity at Tenet Healthcare

In other news, Director J Robert Kerrey sold 9,525 shares of the company's 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 transaction, the director now owns 27,378 shares in the company, valued at approximately $3,434,022.54. This represents a 25.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Paola M. Arbour sold 6,461 shares of the company's stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $160.20, for a total transaction of $1,035,052.20. Following the transaction, the executive vice president now owns 27,848 shares in the company, valued at $4,461,249.60. This represents a 18.83% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,987 shares of company stock worth $2,972,421 over the last quarter. Company insiders own 0.81% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on THC. Morgan Stanley raised their price objective on shares of Tenet Healthcare from $165.00 to $175.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. UBS Group lifted their price objective on shares of Tenet Healthcare from $217.00 to $230.00 and gave the stock a "buy" rating in a research note on Wednesday, April 30th. Barclays boosted their price target on Tenet Healthcare from $161.00 to $171.00 and gave the company an "overweight" rating in a research note on Wednesday, April 30th. Guggenheim began coverage on Tenet Healthcare in a research note on Wednesday, April 9th. They issued a "buy" rating and a $165.00 price target for the company. Finally, Robert W. Baird reiterated a "neutral" rating and issued a $137.00 price target (down from $153.00) on shares of Tenet Healthcare in a research note on Tuesday, April 15th. Four research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, Tenet Healthcare presently has an average rating of "Moderate Buy" and a consensus target price of $174.94.

Tenet Healthcare Price Performance

Shares of NYSE THC traded up $1.49 during midday trading on Tuesday, reaching $168.77. 993,906 shares of the company were exchanged, compared to its average volume of 1,547,352. The company has a quick ratio of 1.70, a current ratio of 1.78 and a debt-to-equity ratio of 2.25. Tenet Healthcare Co. has a one year low of $109.82 and a one year high of $171.20. The stock has a market cap of $15.68 billion, a P/E ratio of 5.24, a PEG ratio of 1.02 and a beta of 1.63. The stock's 50-day moving average price is $133.70 and its 200-day moving average price is $136.23.

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

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.