Trexquant Investment LP Makes New $16.66 Million Investment in Tenet Healthcare Co. (NYSE:THC)

Trexquant Investment LP purchased a new stake in Tenet Healthcare Co. (NYSE:THC) in the fourth quarter, HoldingsChannel.com reports. The fund purchased 131,965 shares of the company’s stock, valued at approximately $16,658,000.

Several other institutional investors have also added to or reduced their stakes in the company. WR Wealth Planners LLC raised its holdings in Tenet Healthcare by 2,836.4% in the 4th quarter. WR Wealth Planners LLC now owns 323 shares of the company’s stock valued at $41,000 after buying an additional 312 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in shares of Tenet Healthcare by 30.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 471 shares of the company’s stock valued at $59,000 after buying an additional 110 shares during the period. Kestra Investment Management LLC bought a new position in shares of Tenet Healthcare in the 4th quarter worth $60,000. Wilmington Savings Fund Society FSB increased its holdings in Tenet Healthcare by 1,352.8% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 523 shares of the company’s stock worth $66,000 after purchasing an additional 487 shares in the last quarter. Finally, Spire Wealth Management raised its position in Tenet Healthcare by 19.5% in the 4th quarter. Spire Wealth Management now owns 558 shares of the company’s stock valued at $70,000 after buying an additional 91 shares during the last quarter. 95.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director J Robert Kerrey sold 9,525 shares of the stock in a transaction on 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 in the company, valued at approximately $3,434,022.54. This represents a 25.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.93% of the stock is currently owned by company insiders.

Tenet Healthcare Price Performance

Shares of NYSE THC opened at $133.55 on Wednesday. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.78 and a quick ratio of 1.70. Tenet Healthcare Co. has a 1-year low of $90.03 and a 1-year high of $171.20. The company has a market cap of $12.70 billion, a price-to-earnings ratio of 4.14, a price-to-earnings-growth ratio of 1.02 and a beta of 2.06. The stock’s 50-day moving average is $132.49 and its two-hundred day moving average is $141.94.

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

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. KeyCorp decreased their price objective on shares of Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. TD Cowen started coverage on Tenet Healthcare in a research note on Wednesday, February 26th. They set a “buy” rating and a $175.00 price objective for the company. The Goldman Sachs Group lowered Tenet Healthcare from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $196.00 to $140.00 in a research report on Monday, December 16th. Barclays cut their target price on shares of Tenet Healthcare from $190.00 to $161.00 and set an “overweight” rating on the stock in a report on Thursday, February 13th. Finally, StockNews.com upgraded shares of 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 assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $166.41.

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.