Eversept Partners LP Acquires New Stake in Tenet Healthcare Corporation $THC

Eversept Partners LP acquired a new position in Tenet Healthcare Corporation (NYSE:THC) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 29,512 shares of the company’s stock, valued at approximately $5,569,000.

Other large investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its holdings in shares of Tenet Healthcare by 1.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,490,350 shares of the company’s stock worth $1,488,484,000 after acquiring an additional 119,809 shares in the last quarter. Boston Partners increased its position in Tenet Healthcare by 15.7% in the fourth quarter. Boston Partners now owns 3,642,136 shares of the company’s stock worth $723,804,000 after purchasing an additional 494,581 shares during the last quarter. AQR Capital Management LLC raised its stake in Tenet Healthcare by 20.3% during the fourth quarter. AQR Capital Management LLC now owns 2,256,539 shares of the company’s stock valued at $448,419,000 after purchasing an additional 380,116 shares in the last quarter. Ameriprise Financial Inc. grew its stake in shares of Tenet Healthcare by 8.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,119,423 shares of the company’s stock worth $373,020,000 after buying an additional 157,109 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Tenet Healthcare in the 4th quarter worth about $248,494,000. Institutional investors own 95.44% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on the company. Royal Bank Of Canada lifted their price target on Tenet Healthcare from $236.00 to $283.00 and gave the stock an “outperform” rating in a research report on Monday. Robert W. Baird lowered their price objective on Tenet Healthcare from $245.00 to $210.00 and set a “neutral” rating for the company in a research note on Tuesday, May 5th. UBS Group boosted their target price on Tenet Healthcare from $288.00 to $308.00 and gave the company a “buy” rating in a research report on Monday. KeyCorp decreased their price target on Tenet Healthcare from $250.00 to $225.00 and set an “overweight” rating on the stock in a report on Friday, May 1st. Finally, TD Cowen boosted their price objective on shares of Tenet Healthcare from $233.00 to $263.00 and gave the company a “buy” rating in a research report on Monday. Seventeen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $257.90.

Insider Buying and Selling

In related news, Director J Robert Kerrey sold 5,638 shares of Tenet Healthcare stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $174.52, for a total transaction of $983,943.76. Following the completion of the sale, the director owned 16,804 shares of the company’s stock, valued at $2,932,634.08. The trade was a 25.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Nadja West sold 3,000 shares of the stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $177.35, for a total transaction of $532,050.00. Following the completion of the transaction, the director owned 24,805 shares in the company, valued at approximately $4,399,166.75. This trade represents a 10.79% decrease in their position. The SEC filing for this sale provides additional information. 0.97% of the stock is owned by company insiders.

Tenet Healthcare Trading Up 4.0%

THC opened at $242.42 on Tuesday. Tenet Healthcare Corporation has a 52 week low of $151.00 and a 52 week high of $248.82. The company has a quick ratio of 1.35, a current ratio of 1.41 and a debt-to-equity ratio of 2.00. The stock’s fifty day moving average is $186.16 and its two-hundred day moving average is $197.79. The company has a market capitalization of $20.88 billion, a P/E ratio of 9.35, a PEG ratio of 1.61 and a beta of 1.27.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings results on Friday, July 24th. The company reported $6.12 EPS for the quarter, beating the consensus estimate of $4.26 by $1.86. The business had revenue of $6.04 billion during the quarter, compared to analyst estimates of $5.43 billion. Tenet Healthcare had a net margin of 10.27% and a return on equity of 26.76%. The company’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.02 EPS. Analysts forecast that Tenet Healthcare Corporation will post 21 earnings per share for the current year.

About Tenet Healthcare

Tenet Healthcare Corporation (NYSE: THC) is a diversified American healthcare services company that owns and operates acute care hospitals and a broad range of outpatient facilities. Its portfolio includes general acute-care hospitals, specialty hospitals, ambulatory surgery centers, urgent care and diagnostic imaging centers, and other ancillary service locations. Tenet’s operations are oriented around delivering inpatient and outpatient clinical care across multiple medical specialties, with an emphasis on surgical services, emergency care, and advanced diagnostics.

In addition to facility-based care, Tenet provides integrated services designed to support clinical operations and improve patient access and care coordination.