Parametrica Management Ltd Acquires New Stake in Tenet Healthcare Co. (NYSE:THC)

Parametrica Management Ltd bought a new stake in Tenet Healthcare Co. (NYSE:THC) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 1,785 shares of the company’s stock, valued at approximately $225,000.

Other hedge funds have also recently added to or reduced their stakes in the company. FMR LLC lifted its holdings in Tenet Healthcare by 88.0% in the third quarter. FMR LLC now owns 7,700,693 shares of the company’s stock valued at $1,279,855,000 after acquiring an additional 3,604,161 shares during the period. Wealthfront Advisers LLC purchased a new position in Tenet Healthcare in the fourth quarter valued at about $69,059,000. Geode Capital Management LLC boosted its stake in shares of Tenet Healthcare by 23.6% during the 3rd quarter. Geode Capital Management LLC now owns 2,044,667 shares of the company’s stock worth $339,893,000 after acquiring an additional 390,316 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Tenet Healthcare in the 4th quarter valued at approximately $49,001,000. Finally, Iron Triangle Partners LP acquired a new position in Tenet Healthcare during the third quarter worth $51,346,000. Institutional investors and hedge funds own 95.44% of the company’s stock.

Insider Buying and Selling at Tenet Healthcare

In related news, Director J Robert Kerrey sold 9,525 shares of the business’s stock in a transaction dated 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 transaction, the director now owns 27,378 shares in the company, valued at approximately $3,434,022.54. The trade was a 25.81 % 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. 0.93% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on THC. TD Cowen began coverage on shares of Tenet Healthcare in a research report on Wednesday, February 26th. They issued a “buy” rating and a $175.00 price objective on the stock. Barclays reduced their target price on Tenet Healthcare from $190.00 to $161.00 and set an “overweight” rating on the stock in a research note on Thursday, February 13th. JPMorgan Chase & Co. restated an “overweight” rating and issued a $175.00 price objective on shares of Tenet Healthcare in a research report on Tuesday, December 17th. KeyCorp cut their target price on shares of Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $177.00 price objective on shares of Tenet Healthcare in a research report on Thursday, February 13th. Three analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Tenet Healthcare currently has a consensus rating of “Moderate Buy” and a consensus target price of $163.88.

Tenet Healthcare Stock Up 1.0 %

Shares of NYSE THC opened at $130.80 on Wednesday. The stock has a fifty day moving average price of $132.29 and a 200 day moving average price of $142.77. The company has a market cap of $12.44 billion, a P/E ratio of 4.06, a P/E/G ratio of 1.02 and a beta of 2.06. Tenet Healthcare Co. has a 12-month low of $90.03 and a 12-month high of $171.20. The company has a current ratio of 1.78, a quick ratio of 1.70 and a debt-to-equity ratio of 2.25.

Tenet Healthcare (NYSE:THC) last released its quarterly earnings results on Wednesday, February 12th. The company reported $3.44 EPS for the quarter, topping the consensus estimate of $2.95 by $0.49. Tenet Healthcare had a return on equity of 21.88% and a net margin of 15.48%. Research analysts anticipate 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.