2,027 Shares in Tenet Healthcare Co. (NYSE:THC) Bought by Soleus Capital Management L.P.

Soleus Capital Management L.P. bought a new position in Tenet Healthcare Co. (NYSE:THC) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 2,027 shares of the company’s stock, valued at approximately $256,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Geode Capital Management LLC lifted its holdings in shares of Tenet Healthcare by 3.5% during the fourth quarter. Geode Capital Management LLC now owns 2,116,121 shares of the company’s stock valued at $268,591,000 after acquiring an additional 71,454 shares during the period. Norges Bank acquired a new stake in shares of Tenet Healthcare in the fourth quarter valued at $190,819,000. Dimensional Fund Advisors LP increased its stake in shares of Tenet Healthcare by 22.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,493,532 shares of the company’s stock valued at $188,524,000 after buying an additional 272,906 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of Tenet Healthcare by 20.8% in the fourth quarter. AQR Capital Management LLC now owns 872,117 shares of the company’s stock valued at $110,087,000 after buying an additional 150,361 shares in the last quarter. Finally, Northern Trust Corp increased its stake in shares of Tenet Healthcare by 22.0% in the fourth quarter. Northern Trust Corp now owns 848,049 shares of the company’s stock valued at $107,049,000 after buying an additional 152,671 shares in the last quarter. 95.44% of the stock is owned by institutional investors.

Tenet Healthcare Stock Up 0.9%

THC stock opened at $165.55 on Monday. The company has a current ratio of 1.78, a quick ratio of 1.70 and a debt-to-equity ratio of 2.25. The firm has a market capitalization of $15.38 billion, a PE ratio of 5.14, a PEG ratio of 1.02 and a beta of 1.63. Tenet Healthcare Co. has a 1-year low of $109.82 and a 1-year high of $171.20. The business’s 50 day simple moving average is $132.78 and its 200 day simple moving average is $136.16.

Tenet Healthcare (NYSE:THC) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $4.36 EPS for the quarter, beating analysts’ consensus estimates of $3.11 by $1.25. Tenet Healthcare had a return on equity of 21.88% and a net margin of 15.48%. The firm had revenue of $5.22 billion for the quarter, compared to analyst estimates of $5.15 billion. During the same period in the prior year, the firm posted $3.22 EPS. The company’s revenue for the quarter was down 2.5% on a year-over-year basis. As a group, research analysts anticipate that Tenet Healthcare Co. will post 12.24 EPS for the current year.

Analysts Set New Price Targets

THC has been the subject of a number of research reports. Truist Financial lifted their price objective on Tenet Healthcare from $175.00 to $190.00 and gave the stock a “buy” rating in a research report on Monday, May 12th. UBS Group lifted their price objective on Tenet Healthcare from $217.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, April 30th. Royal Bank of Canada boosted their target price on Tenet Healthcare from $183.00 to $189.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 30th. Guggenheim started coverage on Tenet Healthcare in a research report on Wednesday, April 9th. They set a “buy” rating and a $165.00 target price for the company. Finally, The Goldman Sachs Group boosted their target price on Tenet Healthcare from $134.00 to $154.00 and gave the stock a “neutral” rating in a research report on Monday, May 5th. Four analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, Tenet Healthcare has an average rating of “Moderate Buy” and an average target price of $174.94.

Insider Buying and Selling

In other Tenet Healthcare news, EVP Paola M. Arbour sold 6,461 shares of the stock in a transaction dated 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 directly owns 27,848 shares in the company, valued at approximately $4,461,249.60. This trade represents a 18.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director J Robert Kerrey sold 5,001 shares of the stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $148.50, for a total value of $742,648.50. Following the completion of the transaction, the director now owns 22,377 shares of the company’s stock, valued at $3,322,984.50. This represents a 18.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,987 shares of company stock worth $2,972,421 in the last ninety days. 0.81% of the stock is owned by insiders.

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.