21,969 Shares in Tenet Healthcare Co. (NYSE:THC) Acquired by Neo Ivy Capital Management

Neo Ivy Capital Management bought a new position in shares of Tenet Healthcare Co. (NYSE:THC) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 21,969 shares of the company’s stock, valued at approximately $2,773,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Geode Capital Management LLC increased its holdings in shares of Tenet Healthcare by 3.5% in the 4th quarter. Geode Capital Management LLC now owns 2,116,121 shares of the company’s stock worth $268,591,000 after buying an additional 71,454 shares during the last quarter. Norges Bank bought a new position in shares of Tenet Healthcare during the 4th quarter valued at $190,819,000. Dimensional Fund Advisors LP grew its holdings in shares of Tenet Healthcare by 22.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,493,532 shares of the company’s stock valued at $188,524,000 after purchasing an additional 272,906 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of Tenet Healthcare by 20.8% during the 4th quarter. AQR Capital Management LLC now owns 872,117 shares of the company’s stock valued at $110,087,000 after purchasing an additional 150,361 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Tenet Healthcare by 22.0% during the 4th quarter. Northern Trust Corp now owns 848,049 shares of the company’s stock valued at $107,049,000 after purchasing an additional 152,671 shares during the last quarter. Institutional investors own 95.44% of the company’s stock.

Insider Transactions at Tenet Healthcare

In other Tenet Healthcare news, EVP Paola M. Arbour sold 6,461 shares of the stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $160.20, for a total value of $1,035,052.20. Following the completion of the transaction, the executive vice president now owns 27,848 shares in the company, valued at approximately $4,461,249.60. This represents a 18.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director J Robert Kerrey sold 9,525 shares of the stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $125.43, for a total value of $1,194,720.75. Following the completion of the transaction, the director now owns 27,378 shares of the company’s stock, valued at $3,434,022.54. The trade was a 25.81% decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,987 shares of company stock worth $2,972,421 over the last 90 days. 0.81% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on THC shares. Baird R W cut shares of Tenet Healthcare from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 15th. Robert W. Baird reaffirmed a “neutral” rating and issued a $137.00 target price (down from $153.00) on shares of Tenet Healthcare in a research report on Tuesday, April 15th. Guggenheim initiated coverage on shares of Tenet Healthcare in a research note on Wednesday, April 9th. They issued a “buy” rating and a $165.00 price target for the company. TD Cowen initiated coverage on shares of Tenet Healthcare in a research note on Wednesday, February 26th. They issued a “buy” rating and a $175.00 price target for the company. Finally, Truist Financial increased their price target on shares of Tenet Healthcare from $175.00 to $190.00 and gave the stock a “buy” rating in a research note on Monday, May 12th. Five research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, Tenet Healthcare has an average rating of “Moderate Buy” and an average price target of $174.94.

Tenet Healthcare Stock Down 1.1%

THC stock opened at $161.10 on Friday. The company’s 50 day moving average price is $136.15 and its 200 day moving average price is $136.63. The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.70 and a current ratio of 1.78. Tenet Healthcare Co. has a fifty-two week low of $109.82 and a fifty-two week high of $171.20. The firm has a market capitalization of $14.96 billion, a price-to-earnings ratio of 5.00, a PEG ratio of 1.02 and a beta of 1.63.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $4.36 earnings per share for the quarter, beating the consensus estimate of $3.11 by $1.25. The business had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $5.15 billion. Tenet Healthcare had a return on equity of 21.88% and a net margin of 15.48%. The company’s revenue was down 2.5% compared to the same quarter last year. During the same period in the prior year, the company earned $3.22 earnings per share. On average, equities research analysts anticipate that Tenet Healthcare Co. will post 12.24 EPS for the current fiscal year.

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.