Cinctive Capital Management LP Buys Shares of 19,446 Tenet Healthcare Co. (NYSE:THC)

Cinctive Capital Management LP acquired a new stake in Tenet Healthcare Co. (NYSE:THC) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 19,446 shares of the company’s stock, valued at approximately $2,455,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in THC. Townsquare Capital LLC purchased a new stake in shares of Tenet Healthcare during the third quarter worth about $384,000. Captrust Financial Advisors grew its stake in Tenet Healthcare by 80.7% in the 3rd quarter. Captrust Financial Advisors now owns 2,747 shares of the company’s stock worth $456,000 after acquiring an additional 1,227 shares during the period. PDT Partners LLC acquired a new position in Tenet Healthcare in the 3rd quarter valued at $416,000. Bamco Inc. NY grew its position in shares of Tenet Healthcare by 100.0% in the third quarter. Bamco Inc. NY now owns 25,000 shares of the company’s stock valued at $4,155,000 after purchasing an additional 12,500 shares during the period. Finally, HighTower Advisors LLC lifted its position in Tenet Healthcare by 12.1% during the third quarter. HighTower Advisors LLC now owns 7,036 shares of the company’s stock worth $1,161,000 after buying an additional 758 shares during the period. Hedge funds and other institutional investors own 95.44% of the company’s stock.

Insider Activity

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

Tenet Healthcare Stock Up 2.9 %

Shares of NYSE THC opened at $137.30 on Thursday. The firm has a market cap of $13.06 billion, a price-to-earnings ratio of 4.26, a PEG ratio of 1.02 and a beta of 2.06. Tenet Healthcare Co. has a 1 year low of $90.03 and a 1 year high of $171.20. The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.70 and a current ratio of 1.78. The stock’s 50-day simple moving average is $132.55 and its 200-day simple moving average is $141.91.

Tenet Healthcare (NYSE:THC) last released its earnings results on Wednesday, February 12th. The company reported $3.44 EPS for the quarter, beating 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 analysts anticipate that Tenet Healthcare Co. will post 12.24 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently commented on THC. Morgan Stanley assumed coverage on shares of Tenet Healthcare in a research note on Wednesday, March 26th. They set an “overweight” rating and a $165.00 price objective for the company. KeyCorp cut their price target on shares of Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. Cantor Fitzgerald reissued an “overweight” rating and set a $177.00 price objective on shares of Tenet Healthcare in a research note on Thursday, February 13th. The Goldman Sachs Group cut Tenet Healthcare from a “buy” rating to a “neutral” rating and reduced their target price for the company from $196.00 to $140.00 in a report on Monday, December 16th. Finally, TD Cowen started coverage on Tenet Healthcare in a report on Wednesday, February 26th. They issued a “buy” rating and a $175.00 price objective on the stock. Three analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Tenet Healthcare has an average rating of “Moderate Buy” and an average price target of $166.41.

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.