Bryce Point Capital LLC Takes Position in Tenet Healthcare Co. (NYSE:THC)

Bryce Point Capital LLC purchased a new position in Tenet Healthcare Co. (NYSE:THC) in the 4th quarter, Holdings Channel.com reports. The fund purchased 3,884 shares of the company’s stock, valued at approximately $490,000.

Several other institutional investors have also added to or reduced their stakes in THC. Norges Bank bought a new position in Tenet Healthcare during the 4th quarter worth approximately $190,819,000. Wealthfront Advisers LLC purchased a new position in shares of Tenet Healthcare in the fourth quarter worth $69,059,000. Geode Capital Management LLC raised its holdings in Tenet Healthcare by 23.6% during the 3rd quarter. Geode Capital Management LLC now owns 2,044,667 shares of the company’s stock valued at $339,893,000 after buying an additional 390,316 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Tenet Healthcare in the 4th quarter worth $49,001,000. Finally, Victory Capital Management Inc. increased its position in shares of Tenet Healthcare by 68.9% in the fourth quarter. Victory Capital Management Inc. now owns 507,055 shares of the company’s stock valued at $64,006,000 after acquiring an additional 206,907 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 THC opened at $120.23 on Friday. The company has a market capitalization of $11.44 billion, a P/E ratio of 3.73, a price-to-earnings-growth ratio of 1.02 and a beta of 1.77. Tenet Healthcare Co. has a twelve month low of $90.03 and a twelve month high of $171.20. The company has a quick ratio of 1.70, a current ratio of 1.78 and a debt-to-equity ratio of 2.25. The firm has a 50 day moving average of $132.13 and a 200 day moving average of $141.54.

Tenet Healthcare (NYSE:THC) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $3.44 earnings per share (EPS) for the quarter, beating 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, equities research analysts anticipate that Tenet Healthcare Co. will post 12.24 earnings per share for the current fiscal year.

Insider Transactions at Tenet Healthcare

In other Tenet Healthcare news, Director J Robert Kerrey sold 9,525 shares of Tenet Healthcare 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 completion of the sale, the director now owns 27,378 shares of the company’s stock, valued at approximately $3,434,022.54. The trade was a 25.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.93% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on THC. Morgan Stanley started coverage on Tenet Healthcare in a report on Wednesday, March 26th. They set an “overweight” rating and a $165.00 price target on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $177.00 price target on shares of Tenet Healthcare in a research note on Thursday, February 13th. The Goldman Sachs Group downgraded shares of Tenet Healthcare from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $196.00 to $140.00 in a research report on Monday, December 16th. KeyCorp cut their target price on shares of Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. Finally, TD Cowen assumed 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. Three analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $166.41.

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.