Trexquant Investment LP Invests $16.66 Million in Tenet Healthcare Co. (NYSE:THC)

Trexquant Investment LP purchased a new stake in Tenet Healthcare Co. (NYSE:THC) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 131,965 shares of the company’s stock, valued at approximately $16,658,000. Trexquant Investment LP owned 0.14% of Tenet Healthcare at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. New Wave Wealth Advisors LLC purchased a new stake in shares of Tenet Healthcare during the fourth quarter valued at $343,000. Swedbank AB lifted its position in shares of Tenet Healthcare by 100.0% during the 4th quarter. Swedbank AB now owns 40,000 shares of the company’s stock valued at $5,049,000 after buying an additional 20,000 shares in the last quarter. Signet Financial Management LLC acquired a new stake in shares of Tenet Healthcare in the fourth quarter valued at about $1,526,000. China Universal Asset Management Co. Ltd. acquired a new position in shares of Tenet Healthcare during the fourth quarter valued at approximately $410,000. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in Tenet Healthcare in the 4th quarter valued at $5,892,000. 95.44% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. KeyCorp dropped their price objective on shares of Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Truist Financial cut their price target on Tenet Healthcare from $190.00 to $175.00 and set a “buy” rating on the stock in a report on Monday, January 6th. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $175.00 target price on shares of Tenet Healthcare in a report on Tuesday, December 17th. TD Cowen initiated coverage on shares of Tenet Healthcare in a research report on Wednesday, February 26th. They issued a “buy” rating and a $175.00 target price on the stock. Finally, Morgan Stanley assumed coverage on Tenet Healthcare in a research note on Wednesday, March 26th. They set an “overweight” rating and a $165.00 price target on the stock. Three research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $166.41.

Insider Buying and Selling

In other Tenet Healthcare news, Director J Robert Kerrey sold 9,525 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $125.43, for a total value of $1,194,720.75. Following the transaction, the director now directly owns 27,378 shares of the company’s stock, valued at approximately $3,434,022.54. This trade represents a 25.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.93% of the stock is owned by corporate insiders.

Tenet Healthcare Trading Down 0.7 %

Shares of NYSE THC opened at $133.55 on Wednesday. The business has a 50-day moving average price of $132.49 and a two-hundred day moving average price of $141.94. Tenet Healthcare Co. has a one year low of $90.03 and a one year high of $171.20. The firm has a market capitalization of $12.70 billion, a PE ratio of 4.14, a PEG ratio of 1.02 and a beta of 2.06. The company has a current ratio of 1.78, a quick ratio of 1.70 and a debt-to-equity ratio of 2.25.

Tenet Healthcare (NYSE:THC) last announced its earnings results on Wednesday, February 12th. The company reported $3.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.95 by $0.49. Tenet Healthcare had a return on equity of 21.88% and a net margin of 15.48%. As a group, analysts predict that Tenet Healthcare Co. will post 12.24 earnings per share for the current fiscal year.

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.