Tenet Healthcare Co. (NYSE:THC) Shares Acquired by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. boosted its stake in shares of Tenet Healthcare Co. (NYSE:THC) by 60.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 253,931 shares of the company’s stock after buying an additional 96,106 shares during the period. Assenagon Asset Management S.A.’s holdings in Tenet Healthcare were worth $32,054,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Plato Investment Management Ltd purchased a new position in Tenet Healthcare in the third quarter worth approximately $28,000. ORG Wealth Partners LLC purchased a new position in shares of Tenet Healthcare during the 3rd quarter worth $30,000. Kayne Anderson Rudnick Investment Management LLC purchased a new stake in Tenet Healthcare in the 2nd quarter valued at about $34,000. Financial Management Professionals Inc. boosted its stake in Tenet Healthcare by 2,222.2% during the third quarter. Financial Management Professionals Inc. now owns 209 shares of the company’s stock worth $35,000 after buying an additional 200 shares during the period. Finally, True Wealth Design LLC acquired a new stake in shares of Tenet Healthcare during the third quarter valued at about $38,000. 95.44% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on THC shares. Cantor Fitzgerald increased their price objective on shares of Tenet Healthcare from $168.00 to $177.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Barclays boosted their price objective on Tenet Healthcare from $171.00 to $190.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Wells Fargo & Company cut Tenet Healthcare from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $205.00 to $150.00 in a report on Monday, November 25th. Raymond James cut shares of Tenet Healthcare from a “strong-buy” rating to an “outperform” rating and set a $195.00 price target on the stock. in a research report on Friday, November 22nd. Finally, Royal Bank of Canada upped their target price on shares of Tenet Healthcare from $174.00 to $183.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Three equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $165.00.

Tenet Healthcare Stock Up 2.1 %

Tenet Healthcare stock opened at $132.74 on Friday. The company has a market capitalization of $12.62 billion, a P/E ratio of 4.25, a PEG ratio of 0.58 and a beta of 2.06. The company has a debt-to-equity ratio of 2.35, a quick ratio of 1.52 and a current ratio of 1.58. Tenet Healthcare Co. has a fifty-two week low of $78.03 and a fifty-two week high of $171.20. The stock has a 50-day simple moving average of $139.11 and a 200-day simple moving average of $148.06.

Tenet Healthcare (NYSE:THC) last announced its 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 company’s quarterly revenue was up 1.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.44 EPS. Equities research analysts expect that Tenet Healthcare Co. will post 11.37 earnings per share for the current year.

Insider Buying and Selling

In other news, EVP Lisa Y. Foo sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $155.94, for a total value of $623,760.00. Following the transaction, the executive vice president now owns 15,566 shares of the company’s stock, valued at approximately $2,427,362.04. The trade was a 20.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.93% of the company’s stock.

Tenet Healthcare 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.