Picton Mahoney Asset Management Has $324,000 Stock Position in Tenet Healthcare Co. (NYSE:THC)

Picton Mahoney Asset Management lifted its holdings in shares of Tenet Healthcare Co. (NYSE:THC) by 54.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,285 shares of the company’s stock after buying an additional 1,515 shares during the period. Picton Mahoney Asset Management’s holdings in Tenet Healthcare were worth $324,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. GAMMA Investing LLC bought a new stake in shares of Tenet Healthcare during the 4th quarter valued at approximately $52,000. Sunbelt Securities Inc. acquired a new position in Tenet Healthcare in the 3rd quarter worth about $67,000. USA Financial Formulas acquired a new stake in shares of Tenet Healthcare during the third quarter valued at about $92,000. SG Americas Securities LLC bought a new position in Tenet Healthcare in the 3rd quarter valued at approximately $152,000. Finally, Neo Ivy Capital Management acquired a new stake in Tenet Healthcare during the 3rd quarter worth approximately $155,000. 95.44% of the stock is currently owned by institutional investors.

Tenet Healthcare Stock Down 1.0 %

Shares of NYSE:THC opened at $122.86 on Thursday. The firm has a market cap of $12.00 billion, a P/E ratio of 4.77, a PEG ratio of 1.22 and a beta of 2.09. Tenet Healthcare Co. has a 52-week low of $51.04 and a 52-week high of $124.92. The business’s 50 day simple moving average is $102.33 and its two-hundred day simple moving average is $84.00. The company has a debt-to-equity ratio of 2.58, a quick ratio of 1.37 and a current ratio of 1.44.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $3.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $1.77. The business had revenue of $5.37 billion during the quarter, compared to the consensus estimate 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 last year, the firm posted $1.42 EPS. As a group, research analysts forecast that Tenet Healthcare Co. will post 8.73 EPS for the current fiscal year.

Insider Buying and Selling at Tenet Healthcare

In other news, Director Richard W. Fisher sold 2,100 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $88.21, for a total value of $185,241.00. Following the transaction, the director now owns 20,127 shares in the company, valued at approximately $1,775,402.67. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Tenet Healthcare news, Director Richard J. Mark sold 14,000 shares of the business’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $98.98, for a total value of $1,385,720.00. Following the transaction, the director now directly owns 33,303 shares in the company, valued at $3,296,330.94. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Richard W. Fisher sold 2,100 shares of the firm’s 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 sale, the director now owns 20,127 shares of the company’s stock, valued at approximately $1,775,402.67. The disclosure for this sale can be found here. In the last three months, insiders have sold 59,416 shares of company stock worth $5,890,793. Corporate insiders own 0.93% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Tenet Healthcare from $100.00 to $126.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. Truist Financial restated a “buy” rating and set a $130.00 price objective (up from $120.00) on shares of Tenet Healthcare in a research report on Wednesday, May 1st. Wells Fargo & Company increased their target price on shares of Tenet Healthcare from $105.00 to $115.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. Barclays boosted 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, May 2nd. Finally, Royal Bank of Canada lifted their target price on shares of Tenet Healthcare from $109.00 to $136.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 1st. One investment analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Tenet Healthcare presently has a consensus rating of “Buy” and an average price target of $113.19.

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.