Stevens Capital Management LP Buys Shares of 1,943 Tenet Healthcare Co. (NYSE:THC)

Stevens Capital Management LP acquired a new stake in Tenet Healthcare Co. (NYSE:THC) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 1,943 shares of the company’s stock, valued at approximately $245,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Pathstone Holdings LLC boosted its position in shares of Tenet Healthcare by 2.7% in the 3rd quarter. Pathstone Holdings LLC now owns 8,973 shares of the company’s stock worth $1,491,000 after buying an additional 233 shares in the last quarter. Raymond James Trust N.A. lifted its holdings in shares of Tenet Healthcare by 32.6% in the third quarter. Raymond James Trust N.A. now owns 4,087 shares of the company’s stock valued at $679,000 after purchasing an additional 1,005 shares in the last quarter. Great Valley Advisor Group Inc. acquired a new stake in shares of Tenet Healthcare in the third quarter valued at approximately $231,000. Cerity Partners LLC raised its position in shares of Tenet Healthcare by 67.2% during the 3rd quarter. Cerity Partners LLC now owns 31,056 shares of the company’s stock worth $5,162,000 after purchasing an additional 12,480 shares during the last quarter. Finally, Swedbank AB acquired a new stake in Tenet Healthcare during the 3rd quarter valued at $3,324,000. 95.44% of the stock is owned by institutional investors and hedge funds.

Tenet Healthcare Stock Performance

NYSE:THC opened at $129.87 on Tuesday. Tenet Healthcare Co. has a twelve month low of $90.03 and a twelve month high of $171.20. The firm has a market capitalization of $12.35 billion, a price-to-earnings ratio of 4.03, a PEG ratio of 1.02 and a beta of 2.06. 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’s fifty day simple moving average is $132.22 and its 200 day simple moving average is $142.92.

Tenet Healthcare (NYSE:THC) last issued its earnings results on Wednesday, February 12th. The company reported $3.44 earnings per share 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%. As a group, equities research analysts expect that Tenet Healthcare Co. will post 12.24 earnings per share for the current fiscal year.

Insider Transactions at Tenet Healthcare

In other news, Director J Robert Kerrey sold 9,525 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $125.43, for a total transaction of $1,194,720.75. Following the completion of the sale, the director now directly owns 27,378 shares in the company, valued at $3,434,022.54. This trade represents a 25.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.93% of the company’s stock.

Wall Street Analyst Weigh In

THC has been the topic of several recent research reports. KeyCorp reduced their price objective on Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $177.00 price target on shares of Tenet Healthcare in a research note on Thursday, February 13th. TD Cowen began coverage on shares of Tenet Healthcare in a research note on Wednesday, February 26th. They set a “buy” rating and a $175.00 price objective on the stock. Wells Fargo & Company cut shares of Tenet Healthcare from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $205.00 to $150.00 in a research note on Monday, November 25th. Finally, StockNews.com upgraded Tenet Healthcare from a “hold” rating to a “buy” rating in a report on Thursday, March 13th. Three 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 currently has an average rating of “Moderate Buy” and a consensus price target of $163.88.

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.