Stevens Capital Management LP Acquires Shares of 1,943 Tenet Healthcare Co. (NYSE:THC)

Stevens Capital Management LP purchased a new position in Tenet Healthcare Co. (NYSE:THC) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 1,943 shares of the company’s stock, valued at approximately $245,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Pathstone Holdings LLC increased its holdings in shares of Tenet Healthcare by 2.7% in the 3rd quarter. Pathstone Holdings LLC now owns 8,973 shares of the company’s stock valued at $1,491,000 after acquiring an additional 233 shares during the last quarter. Raymond James Trust N.A. increased its stake in Tenet Healthcare by 32.6% during the third quarter. Raymond James Trust N.A. now owns 4,087 shares of the company’s stock valued at $679,000 after purchasing an additional 1,005 shares during the last quarter. Great Valley Advisor Group Inc. bought a new position in shares of Tenet Healthcare in the 3rd quarter worth about $231,000. Cerity Partners LLC grew its position in shares of Tenet Healthcare by 67.2% during the 3rd quarter. Cerity Partners LLC now owns 31,056 shares of the company’s stock valued at $5,162,000 after buying an additional 12,480 shares during the last quarter. Finally, Swedbank AB bought a new position in Tenet Healthcare in the third quarter worth about $3,324,000. 95.44% of the stock is owned by institutional investors.

Insider Activity at Tenet Healthcare

In other news, 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 sale, the director now owns 27,378 shares in the company, valued at $3,434,022.54. This represents a 25.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.93% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Truist Financial dropped their price target on Tenet Healthcare from $190.00 to $175.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. TD Cowen started coverage on shares of Tenet Healthcare in a report on Wednesday, February 26th. They set a “buy” rating and a $175.00 price target for the company. Barclays dropped their price objective on shares of Tenet Healthcare from $190.00 to $161.00 and set an “overweight” rating on the stock in a report on Thursday, February 13th. The Goldman Sachs Group lowered shares of Tenet Healthcare from a “buy” rating to a “neutral” rating and reduced their target price for the company from $196.00 to $140.00 in a research note on Monday, December 16th. Finally, StockNews.com raised Tenet Healthcare from a “hold” rating to a “buy” rating in a report on Thursday, March 13th. Three analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $163.88.

Tenet Healthcare Trading Up 5.4 %

Tenet Healthcare stock opened at $129.87 on Tuesday. Tenet Healthcare Co. has a 1 year low of $90.03 and a 1 year high of $171.20. The firm’s 50 day moving average price is $132.22 and its two-hundred day moving average price is $142.92. The firm has a market cap of $12.35 billion, a price-to-earnings ratio of 4.03, a price-to-earnings-growth ratio of 1.02 and a beta of 2.06. 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 (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%. On average, research analysts predict that Tenet Healthcare Co. will post 12.24 EPS 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.