Point72 Asia Singapore Pte. Ltd. Has $1.77 Million Stock Position in Tenet Healthcare Co. (NYSE:THC)

Point72 Asia Singapore Pte. Ltd. reduced its position in Tenet Healthcare Co. (NYSE:THC) by 30.5% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 10,629 shares of the company’s stock after selling 4,661 shares during the period. Point72 Asia Singapore Pte. Ltd.’s holdings in Tenet Healthcare were worth $1,767,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. FMR LLC lifted its position in Tenet Healthcare by 88.0% during the third quarter. FMR LLC now owns 7,700,693 shares of the company’s stock worth $1,279,855,000 after acquiring an additional 3,604,161 shares during the last quarter. Marshall Wace LLP increased its holdings in shares of Tenet Healthcare by 7.3% during the second quarter. Marshall Wace LLP now owns 713,979 shares of the company’s stock worth $94,981,000 after purchasing an additional 48,626 shares during the period. Farallon Capital Management LLC increased its holdings in shares of Tenet Healthcare by 7.8% during the second quarter. Farallon Capital Management LLC now owns 687,442 shares of the company’s stock worth $91,450,000 after purchasing an additional 50,000 shares during the period. Integral Health Asset Management LLC increased its holdings in shares of Tenet Healthcare by 17.6% during the second quarter. Integral Health Asset Management LLC now owns 500,000 shares of the company’s stock worth $66,515,000 after purchasing an additional 75,000 shares during the period. Finally, AQR Capital Management LLC increased its holdings in shares of Tenet Healthcare by 35.2% during the second quarter. AQR Capital Management LLC now owns 341,250 shares of the company’s stock worth $45,396,000 after purchasing an additional 88,781 shares during the period. 95.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Tenet Healthcare

In other news, EVP Lisa Y. Foo sold 4,000 shares of the company’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $155.94, for a total transaction of $623,760.00. Following the transaction, the executive vice president now owns 15,566 shares in the company, valued at approximately $2,427,362.04. This represents a 20.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider R. Scott Ramsey sold 11,599 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $162.06, for a total transaction of $1,879,733.94. Following the transaction, the insider now owns 6,324 shares in the company, valued at $1,024,867.44. This represents a 64.72 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.93% of the company’s stock.

Analyst Ratings Changes

THC has been the topic of several recent research reports. Barclays raised their target price on shares of Tenet Healthcare from $171.00 to $190.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. Truist Financial reissued a “buy” rating and issued a $190.00 price objective (up from $180.00) on shares of Tenet Healthcare in a research note on Wednesday, October 30th. KeyCorp initiated coverage on shares of Tenet Healthcare in a research note on Friday, October 11th. They issued an “overweight” rating and a $200.00 price objective on the stock. Royal Bank of Canada lifted their price objective on shares of Tenet Healthcare from $174.00 to $183.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, Raymond James cut shares of Tenet Healthcare from a “strong-buy” rating to an “outperform” rating and set a $195.00 price objective on the stock. in a research note on Friday, November 22nd. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Tenet Healthcare currently has a consensus rating of “Buy” and a consensus target price of $168.19.

Tenet Healthcare Price Performance

Shares of NYSE:THC opened at $142.68 on Monday. The company has a debt-to-equity ratio of 2.35, a quick ratio of 1.52 and a current ratio of 1.58. The firm has a market cap of $13.57 billion, a PE ratio of 4.57, a price-to-earnings-growth ratio of 0.64 and a beta of 2.15. The firm’s fifty day moving average is $156.87 and its 200-day moving average is $148.62. Tenet Healthcare Co. has a 52 week low of $66.64 and a 52 week high of $171.20.

Tenet Healthcare (NYSE:THC) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $2.93 EPS for the quarter, beating analysts’ consensus estimates of $2.33 by $0.60. The business had revenue of $5.12 billion for the quarter, compared to analysts’ expectations of $5.05 billion. Tenet Healthcare had a net margin of 14.91% and a return on equity of 24.05%. The business’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.44 earnings per share. Sell-side analysts predict that Tenet Healthcare Co. will post 11.38 earnings per share 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.