Bridgewater Associates LP Has $20.80 Million Position in Tenet Healthcare Co. (NYSE:THC)

Bridgewater Associates LP grew its holdings in shares of Tenet Healthcare Co. (NYSE:THC) by 29.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 125,123 shares of the company’s stock after acquiring an additional 28,486 shares during the quarter. Bridgewater Associates LP owned 0.13% of Tenet Healthcare worth $20,795,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Innealta Capital LLC bought a new stake in shares of Tenet Healthcare in the second quarter worth $28,000. Plato Investment Management Ltd bought a new stake in shares of Tenet Healthcare in the 3rd quarter valued at about $28,000. ORG Wealth Partners LLC acquired a new stake in shares of Tenet Healthcare in the third quarter valued at about $30,000. ORG Partners LLC bought a new position in shares of Tenet Healthcare during the second quarter worth about $31,000. Finally, Blue Trust Inc. boosted its holdings in Tenet Healthcare by 93.0% in the second quarter. Blue Trust Inc. now owns 249 shares of the company’s stock valued at $33,000 after acquiring an additional 120 shares during the last quarter. 95.44% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Tenet Healthcare

In related news, EVP Lisa Y. Foo sold 4,000 shares of the business’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $155.94, for a total value of $623,760.00. Following the transaction, the executive vice president now directly 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider R. Scott Ramsey sold 11,599 shares of Tenet Healthcare stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $162.06, for a total transaction of $1,879,733.94. Following the completion of the sale, the insider now directly owns 6,324 shares in the company, valued at approximately $1,024,867.44. This represents a 64.72 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.93% of the company’s stock.

Tenet Healthcare Stock Performance

Shares of Tenet Healthcare stock opened at $141.94 on Thursday. The company has a market cap of $13.50 billion, a PE ratio of 4.55, a price-to-earnings-growth ratio of 0.64 and a beta of 2.15. The company has a quick ratio of 1.52, a current ratio of 1.58 and a debt-to-equity ratio of 2.35. Tenet Healthcare Co. has a 52 week low of $65.90 and a 52 week high of $171.20. The business has a 50 day moving average price of $158.21 and a 200-day moving average price of $148.45.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $2.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.33 by $0.60. Tenet Healthcare had a net margin of 14.91% and a return on equity of 24.05%. The firm had revenue of $5.12 billion for the quarter, compared to the consensus estimate of $5.05 billion. During the same period in the previous year, the firm earned $1.44 EPS. The business’s revenue for the quarter was up 1.1% compared to the same quarter last year. Equities analysts anticipate that Tenet Healthcare Co. will post 11.38 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on THC shares. KeyCorp initiated coverage on shares of Tenet Healthcare in a report on Friday, October 11th. They set an “overweight” rating and a $200.00 price target for the company. UBS Group boosted their target price on shares of Tenet Healthcare from $197.00 to $217.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Cantor Fitzgerald increased their price target on Tenet Healthcare from $168.00 to $177.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Royal Bank of Canada boosted their price objective on Tenet Healthcare from $174.00 to $183.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, Barclays lifted their target price on Tenet Healthcare from $171.00 to $190.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, Tenet Healthcare presently has an average rating of “Buy” and an average target price of $168.19.

About Tenet Healthcare

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.