Tenet Healthcare Co. (NYSE:THC) Shares Purchased by O Shaughnessy Asset Management LLC

O Shaughnessy Asset Management LLC increased its stake in shares of Tenet Healthcare Co. (NYSE:THC) by 31.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 28,171 shares of the company’s stock after purchasing an additional 6,687 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in Tenet Healthcare were worth $2,961,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Tenet Healthcare by 0.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,604 shares of the company’s stock worth $1,325,000 after purchasing an additional 90 shares during the period. Violich Capital Management Inc. lifted its holdings in shares of Tenet Healthcare by 3.2% during the first quarter. Violich Capital Management Inc. now owns 3,380 shares of the company’s stock worth $355,000 after purchasing an additional 105 shares during the period. GAMMA Investing LLC lifted its holdings in Tenet Healthcare by 17.0% in the first quarter. GAMMA Investing LLC now owns 731 shares of the company’s stock valued at $77,000 after acquiring an additional 106 shares during the period. Yousif Capital Management LLC lifted its holdings in Tenet Healthcare by 0.3% in the fourth quarter. Yousif Capital Management LLC now owns 42,825 shares of the company’s stock valued at $3,236,000 after acquiring an additional 131 shares during the period. Finally, SummerHaven Investment Management LLC lifted its holdings in Tenet Healthcare by 1.7% in the fourth quarter. SummerHaven Investment Management LLC now owns 8,685 shares of the company’s stock valued at $656,000 after acquiring an additional 145 shares during the period. 95.44% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Thomas W. Arnst sold 8,148 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $116.10, for a total transaction of $945,982.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, EVP Thomas W. Arnst sold 8,148 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $116.10, for a total transaction of $945,982.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Richard W. Fisher sold 1,400 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $132.24, for a total value of $185,136.00. Following the transaction, the director now directly owns 16,227 shares in the company, valued at $2,145,858.48. The disclosure for this sale can be found here. Insiders have sold 24,691 shares of company stock valued at $3,117,909 in the last three months. Corporate insiders own 0.93% of the company’s stock.

Wall Street Analyst Weigh In

THC has been the subject of a number of recent analyst reports. Mizuho reissued a “buy” rating and issued a $130.00 target price (up previously from $118.00) on shares of Tenet Healthcare in a report on Wednesday, May 1st. Truist Financial raised their target price on Tenet Healthcare from $130.00 to $155.00 and gave the company a “buy” rating in a report on Monday, July 15th. Robert W. Baird assumed coverage on Tenet Healthcare in a research report on Thursday, May 30th. They issued an “outperform” rating and a $153.00 price target for the company. Baird R W upgraded Tenet Healthcare to a “strong-buy” rating in a research report on Thursday, May 30th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Tenet Healthcare from $150.00 to $155.00 and gave the company a “buy” rating in a research report on Friday, June 28th. One analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, Tenet Healthcare has a consensus rating of “Buy” and a consensus price target of $123.18.

Tenet Healthcare Trading Up 4.8 %

THC traded up $6.66 during midday trading on Wednesday, hitting $145.34. The company’s stock had a trading volume of 3,898,100 shares, compared to its average volume of 1,223,101. The company has a current ratio of 1.44, a quick ratio of 1.37 and a debt-to-equity ratio of 2.58. The firm has a market cap of $14.20 billion, a P/E ratio of 5.81, a PEG ratio of 1.22 and a beta of 2.15. The firm has a 50-day moving average price of $133.82 and a two-hundred day moving average price of $109.70. Tenet Healthcare Co. has a 52-week low of $51.04 and a 52-week high of $151.00.

Tenet Healthcare (NYSE:THC) last released its quarterly earnings data on Tuesday, April 30th. The company reported $3.22 earnings per share for the quarter, beating the consensus estimate of $1.45 by $1.77. The business had revenue of $5.37 billion for the quarter, compared to analyst estimates of $5.15 billion. Tenet Healthcare had a return on equity of 26.76% and a net margin of 12.53%. The company’s revenue was up 6.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.42 EPS. On average, research analysts anticipate that Tenet Healthcare Co. will post 8.87 earnings per share for the current 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.