Graham Capital Management L.P. Acquires 11,321 Shares of Tenet Healthcare Co. (NYSE:THC)

Graham Capital Management L.P. lifted its holdings in shares of Tenet Healthcare Co. (NYSE:THC) by 59.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,395 shares of the company’s stock after buying an additional 11,321 shares during the quarter. Graham Capital Management L.P.’s holdings in Tenet Healthcare were worth $3,837,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. EverSource Wealth Advisors LLC grew its position in shares of Tenet Healthcare by 9.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 940 shares of the company’s stock valued at $119,000 after purchasing an additional 80 shares in the last quarter. GeoWealth Management LLC increased its position in shares of Tenet Healthcare by 39.8% during the fourth quarter. GeoWealth Management LLC now owns 295 shares of the company’s stock valued at $37,000 after buying an additional 84 shares during the period. Spire Wealth Management lifted its holdings in shares of Tenet Healthcare by 19.5% in the fourth quarter. Spire Wealth Management now owns 558 shares of the company’s stock worth $70,000 after buying an additional 91 shares in the last quarter. CIBC Private Wealth Group LLC grew its stake in Tenet Healthcare by 1.7% during the fourth quarter. CIBC Private Wealth Group LLC now owns 5,619 shares of the company’s stock valued at $732,000 after acquiring an additional 92 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in Tenet Healthcare by 1.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 8,109 shares of the company’s stock worth $1,024,000 after acquiring an additional 100 shares during the period. 95.44% of the stock is currently owned by hedge funds and other institutional investors.

Tenet Healthcare Price Performance

Shares of NYSE THC opened at $148.80 on Friday. 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 Co. has a 1 year low of $109.82 and a 1 year high of $171.20. The company’s 50-day moving average is $129.38 and its 200 day moving average is $135.94. The stock has a market capitalization of $13.82 billion, a P/E ratio of 4.62, a P/E/G ratio of 1.02 and a beta of 1.63.

Tenet Healthcare (NYSE:THC) last released its earnings results on Tuesday, April 29th. The company reported $4.36 EPS for the quarter, beating analysts’ consensus estimates of $3.11 by $1.25. The company had revenue of $5.22 billion during the quarter, compared to analysts’ expectations of $5.15 billion. Tenet Healthcare had a return on equity of 21.88% and a net margin of 15.48%. The firm’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same quarter last year, the business posted $3.22 EPS. On average, sell-side analysts expect that Tenet Healthcare Co. will post 12.24 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on THC shares. Royal Bank of Canada boosted their target price on Tenet Healthcare from $183.00 to $189.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 30th. Morgan Stanley raised their target price on shares of Tenet Healthcare from $165.00 to $175.00 and gave the company an “overweight” rating in a research note on Monday, May 5th. The Goldman Sachs Group increased their price target on shares of Tenet Healthcare from $134.00 to $154.00 and gave the stock a “neutral” rating in a report on Monday, May 5th. Barclays upped their target price on shares of Tenet Healthcare from $161.00 to $171.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 30th. Finally, Baird R W cut Tenet Healthcare from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 15th. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $173.69.

Insider Buying and Selling at Tenet Healthcare

In other Tenet Healthcare news, Director J Robert Kerrey sold 9,525 shares of Tenet Healthcare stock in a transaction 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 transaction, the director now owns 27,378 shares in the company, valued at approximately $3,434,022.54. The trade was a 25.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.81% of the company’s stock.

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.