Dynamic Technology Lab Private Ltd Acquires 10,899 Shares of Tenet Healthcare Co. (NYSE:THC)

Dynamic Technology Lab Private Ltd grew its stake in Tenet Healthcare Co. (NYSE:THC) by 314.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,360 shares of the company’s stock after acquiring an additional 10,899 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Tenet Healthcare were worth $1,813,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Islay Capital Management LLC bought a new stake in Tenet Healthcare during the 4th quarter valued at about $691,000. Prudential PLC increased its position in shares of Tenet Healthcare by 0.7% during the fourth quarter. Prudential PLC now owns 15,344 shares of the company’s stock valued at $1,937,000 after acquiring an additional 107 shares in the last quarter. Huber Capital Management LLC lifted its position in Tenet Healthcare by 5.7% in the 4th quarter. Huber Capital Management LLC now owns 11,101 shares of the company’s stock valued at $1,401,000 after acquiring an additional 600 shares in the last quarter. Cinctive Capital Management LP bought a new stake in shares of Tenet Healthcare in the 4th quarter worth $2,455,000. Finally, Bryce Point Capital LLC purchased a new position in shares of Tenet Healthcare in the fourth quarter worth $490,000. 95.44% of the stock is currently owned by institutional investors.

Insider Activity at Tenet Healthcare

In other Tenet Healthcare news, Director J Robert Kerrey sold 9,525 shares of Tenet Healthcare 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 $3,434,022.54. The trade was 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 the SEC website. 0.93% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on THC shares. Barclays reduced their price objective on Tenet Healthcare from $190.00 to $161.00 and set an “overweight” rating for the company in a report on Thursday, February 13th. Cantor Fitzgerald restated an “overweight” rating and set a $177.00 price objective on shares of Tenet Healthcare in a research report on Thursday, February 13th. The Goldman Sachs Group lowered shares of Tenet Healthcare from a “buy” rating to a “neutral” rating and decreased their target price for the company from $196.00 to $140.00 in a research note on Monday, December 16th. KeyCorp reduced their price objective on Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Finally, Morgan Stanley began coverage on Tenet Healthcare in a research note on Wednesday, March 26th. They set an “overweight” rating and a $165.00 price target for the company. Three investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Tenet Healthcare presently has an average rating of “Moderate Buy” and an average price target of $166.41.

Tenet Healthcare Trading Down 9.5 %

THC stock opened at $120.23 on Friday. The company has a market capitalization of $11.44 billion, a PE ratio of 3.73, a P/E/G ratio of 1.02 and a beta of 1.77. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.78 and a quick ratio of 1.70. Tenet Healthcare Co. has a 12 month low of $90.03 and a 12 month high of $171.20. The firm’s 50-day moving average is $132.13 and its 200 day moving average is $141.54.

Tenet Healthcare (NYSE:THC) last released its quarterly earnings data 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%. On average, research analysts anticipate that Tenet Healthcare Co. will post 12.24 EPS for the current year.

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.