Quadrature Capital Ltd Boosts Stock Position in Tenet Healthcare Co. (NYSE:THC)

Quadrature Capital Ltd increased its stake in shares of Tenet Healthcare Co. (NYSE:THC) by 203.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,091 shares of the company’s stock after purchasing an additional 7,434 shares during the quarter. Quadrature Capital Ltd’s holdings in Tenet Healthcare were worth $1,166,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. SG Americas Securities LLC lifted its position in Tenet Healthcare by 56.0% during the 4th quarter. SG Americas Securities LLC now owns 3,587 shares of the company’s stock worth $271,000 after acquiring an additional 1,287 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in Tenet Healthcare by 4.1% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 104,577 shares of the company’s stock worth $7,903,000 after acquiring an additional 4,075 shares in the last quarter. Ritholtz Wealth Management lifted its position in Tenet Healthcare by 5.5% during the 4th quarter. Ritholtz Wealth Management now owns 10,768 shares of the company’s stock worth $814,000 after acquiring an additional 559 shares in the last quarter. Oak Thistle LLC raised its position in shares of Tenet Healthcare by 18.1% in the 4th quarter. Oak Thistle LLC now owns 8,218 shares of the company’s stock valued at $621,000 after purchasing an additional 1,260 shares in the last quarter. Finally, Baker Ellis Asset Management LLC acquired a new position in shares of Tenet Healthcare in the 4th quarter valued at approximately $227,000. Hedge funds and other institutional investors own 95.44% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on THC shares. Robert W. Baird started coverage on Tenet Healthcare in a research report on Thursday, May 30th. They issued an “outperform” rating and a $153.00 target price on the stock. Barclays upped their target price on Tenet Healthcare from $147.00 to $156.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft upped 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. Cantor Fitzgerald upped their price target on Tenet Healthcare from $112.00 to $168.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, Royal Bank of Canada upped their price target on Tenet Healthcare from $109.00 to $136.00 and gave the company an “outperform” rating in a research report on Wednesday, May 1st. One investment analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $137.12.

Tenet Healthcare Trading Up 1.3 %

Shares of Tenet Healthcare stock traded up $1.89 during trading on Friday, reaching $151.63. 1,459,260 shares of the company were exchanged, compared to its average volume of 1,318,933. The company has a quick ratio of 1.37, a current ratio of 1.45 and a debt-to-equity ratio of 2.53. Tenet Healthcare Co. has a twelve month low of $51.04 and a twelve month high of $152.37. The business has a 50-day moving average price of $134.97 and a 200-day moving average price of $110.95. The firm has a market capitalization of $14.81 billion, a price-to-earnings ratio of 5.88, a P/E/G ratio of 0.86 and a beta of 2.15.

Tenet Healthcare (NYSE:THC) last posted its earnings results on Tuesday, April 30th. The company reported $3.22 earnings per share for the quarter, topping the consensus estimate of $1.45 by $1.77. The firm 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 24.66% and a net margin of 13.17%. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.42 earnings per share. Sell-side analysts anticipate that Tenet Healthcare Co. will post 10.68 EPS for the current fiscal year.

Tenet Healthcare declared that its Board of Directors has authorized a share buyback program on Wednesday, July 24th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the company to buy up to 10.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In other Tenet Healthcare news, Director Christopher S. Lynch sold 10,861 shares of Tenet Healthcare stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $133.83, for a total transaction of $1,453,527.63. Following the transaction, the director now directly owns 14,759 shares in the company, valued at $1,975,196.97. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Tenet Healthcare news, Director Richard W. Fisher sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $123.20, for a total transaction of $308,000.00. Following the transaction, the director now owns 17,627 shares of the company’s stock, valued at $2,171,646.40. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Christopher S. Lynch sold 10,861 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $133.83, for a total value of $1,453,527.63. Following the transaction, the director now directly owns 14,759 shares in the company, valued at approximately $1,975,196.97. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 24,691 shares of company stock worth $3,117,909. Corporate insiders own 0.93% of the company’s stock.

Tenet Healthcare Company 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.