Levin Capital Strategies L.P. Buys New Position in Tenet Healthcare Co. (NYSE:THC)

Levin Capital Strategies L.P. purchased a new position in shares of Tenet Healthcare Co. (NYSE:THC) during the fourth quarter, Holdings Channel.com reports. The fund purchased 22,286 shares of the company’s stock, valued at approximately $1,684,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of THC. GAMMA Investing LLC acquired a new position in Tenet Healthcare in the 4th quarter worth approximately $52,000. Sunbelt Securities Inc. purchased a new stake in shares of Tenet Healthcare in the third quarter worth about $67,000. USA Financial Formulas acquired a new stake in Tenet Healthcare during the third quarter worth about $92,000. SG Americas Securities LLC purchased a new position in shares of Tenet Healthcare during the 3rd quarter valued at approximately $152,000. Finally, Neo Ivy Capital Management acquired a new position in shares of Tenet Healthcare in the 3rd quarter valued at $155,000. 95.44% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Tenet Healthcare

In other Tenet Healthcare news, Director Richard W. Fisher sold 2,100 shares of the stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $88.21, for a total value of $185,241.00. Following the transaction, the director now directly owns 20,127 shares in the company, valued at $1,775,402.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Tenet Healthcare news, Director Richard J. Mark sold 14,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $98.98, for a total value of $1,385,720.00. Following the completion of the sale, the director now owns 33,303 shares in the company, valued at $3,296,330.94. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Richard W. Fisher sold 2,100 shares of Tenet Healthcare stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $88.21, for a total transaction of $185,241.00. Following the completion of the transaction, the director now directly owns 20,127 shares in the company, valued at $1,775,402.67. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 51,268 shares of company stock valued at $4,944,810. Corporate insiders own 0.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on THC shares. Royal Bank of Canada lifted their price objective on shares of Tenet Healthcare from $109.00 to $136.00 and gave the company an “outperform” rating in a report on Wednesday. Wells Fargo & Company increased their price target on Tenet Healthcare from $105.00 to $115.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. Truist Financial restated a “buy” rating and issued a $130.00 price objective (up from $120.00) on shares of Tenet Healthcare in a research report on Wednesday. TheStreet upgraded shares of Tenet Healthcare from a “c+” rating to a “b-” rating in a research report on Tuesday, February 6th. Finally, UBS Group boosted their target price on shares of Tenet Healthcare from $137.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday. One analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $113.19.

Tenet Healthcare Stock Up 2.3 %

Shares of NYSE THC traded up $2.63 during midday trading on Thursday, hitting $118.58. The company’s stock had a trading volume of 1,262,992 shares, compared to its average volume of 1,193,109. Tenet Healthcare Co. has a 1 year low of $51.04 and a 1 year high of $120.03. The business’s fifty day simple moving average is $99.29 and its two-hundred day simple moving average is $81.68. The firm has a market capitalization of $11.76 billion, a price-to-earnings ratio of 4.60, a price-to-earnings-growth ratio of 2.55 and a beta of 2.09. The company has a debt-to-equity ratio of 2.58, a current ratio of 1.44 and a quick ratio of 1.42.

Tenet Healthcare (NYSE:THC) last issued its earnings results 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. Tenet Healthcare had a net margin of 12.53% and a return on equity of 26.76%. The firm had revenue of $5.37 billion for the quarter, compared to analysts’ expectations of $5.15 billion. During the same quarter last year, the company earned $1.42 earnings per share. The firm’s revenue was up 6.9% compared to the same quarter last year. On average, equities analysts predict that Tenet Healthcare Co. will post 8.89 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.