Whitebox Advisors LLC Purchases 4,500 Shares of Tenet Healthcare Co. (NYSE:THC)

Whitebox Advisors LLC increased its stake in shares of Tenet Healthcare Co. (NYSE:THC - Free Report) by 21.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,902 shares of the company's stock after buying an additional 4,500 shares during the period. Whitebox Advisors LLC's holdings in Tenet Healthcare were worth $3,270,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC increased its holdings 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 lifted its stake in 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 last quarter. Spire Wealth Management raised its stake in shares of Tenet Healthcare by 19.5% during the fourth 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 grew its holdings in Tenet Healthcare by 1.7% during the 4th quarter. CIBC Private Wealth Group LLC now owns 5,619 shares of the company's stock worth $732,000 after acquiring an additional 92 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its position in shares of Tenet Healthcare by 1.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 8,109 shares of the company's stock valued at $1,024,000 after purchasing an additional 100 shares in the last quarter. 95.44% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director J Robert Kerrey sold 9,525 shares of the firm's stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $125.43, for a total transaction of $1,194,720.75. Following the completion of the sale, the director now owns 27,378 shares of the company's stock, valued at $3,434,022.54. This trade represents a 25.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.81% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Guggenheim initiated coverage on Tenet Healthcare in a research note on Wednesday, April 9th. They issued a "buy" rating and a $165.00 price objective for the company. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $177.00 price target on shares of Tenet Healthcare in a report on Thursday, February 13th. KeyCorp reduced their target price on Tenet Healthcare from $200.00 to $185.00 and set an "overweight" rating for the company in a research report on Tuesday, January 7th. StockNews.com upgraded shares of Tenet Healthcare from a "hold" rating to a "buy" rating in a research report on Thursday, March 13th. Finally, Truist Financial lowered their price objective on Tenet Healthcare from $190.00 to $175.00 and set a "buy" rating for the company in a research report on Monday, January 6th. Five investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $167.06.

Tenet Healthcare Stock Up 3.4 %

Shares of THC stock opened at $143.02 on Thursday. The stock has a market cap of $13.50 billion, a P/E ratio of 4.44, a price-to-earnings-growth ratio of 1.02 and a beta of 1.77. Tenet Healthcare Co. has a one year low of $109.82 and a one year high of $171.20. The stock has a fifty day moving average price of $126.55 and a 200 day moving average price of $136.62. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.78 and a quick ratio of 1.70.

Tenet Healthcare (NYSE:THC - Get Free Report) last released 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 business had revenue of $5.22 billion for the quarter, compared to analyst estimates of $5.15 billion. During the same quarter last year, the firm earned $3.22 EPS. Tenet Healthcare's quarterly revenue was down 2.5% compared to the same quarter last year. Analysts predict that Tenet Healthcare Co. will post 12.24 earnings per share for the current 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.

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