Kingdon Capital Management L.L.C. Takes Position in Tenet Healthcare Co. (NYSE:THC)

Kingdon Capital Management L.L.C. purchased a new stake in shares of Tenet Healthcare Co. (NYSE:THCFree Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 63,950 shares of the company’s stock, valued at approximately $4,833,000. Kingdon Capital Management L.L.C. owned approximately 0.06% of Tenet Healthcare as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in THC. Vanguard Group Inc. raised its position in Tenet Healthcare by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 11,110,396 shares of the company’s stock valued at $839,613,000 after purchasing an additional 172,913 shares during the last quarter. Readystate Asset Management LP lifted its stake in Tenet Healthcare by 6.5% in the fourth quarter. Readystate Asset Management LP now owns 89,340 shares of the company’s stock worth $6,751,000 after acquiring an additional 5,454 shares during the period. Winslow Asset Management Inc. grew its holdings in Tenet Healthcare by 2.4% in the fourth quarter. Winslow Asset Management Inc. now owns 158,849 shares of the company’s stock worth $12,004,000 after purchasing an additional 3,670 shares during the period. PFM Health Sciences LP grew its stake in shares of Tenet Healthcare by 1.8% in the fourth quarter. PFM Health Sciences LP now owns 589,409 shares of the company’s stock worth $44,542,000 after acquiring an additional 10,705 shares during the last quarter. Finally, Prelude Capital Management LLC raised its position in shares of Tenet Healthcare by 12.5% in the 4th quarter. Prelude Capital Management LLC now owns 83,266 shares of the company’s stock worth $6,292,000 after purchasing an additional 9,276 shares during the last quarter. Institutional investors own 95.44% of the company’s stock.

Analysts Set New Price Targets

THC has been the subject of a number of analyst reports. StockNews.com upgraded shares of Tenet Healthcare from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 7th. Stephens boosted their price objective on shares of Tenet Healthcare from $95.00 to $122.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 1st. Barclays increased their target price on Tenet Healthcare from $113.00 to $147.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Wolfe Research raised Tenet Healthcare from a “peer perform” rating to an “outperform” rating and set a $122.00 price target on the stock in a report on Wednesday, March 27th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Tenet Healthcare from $126.00 to $150.00 and gave the stock a “buy” rating in a report on Thursday, May 30th. One equities research analyst has rated the stock with a hold rating, fifteen have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, Tenet Healthcare currently has an average rating of “Buy” and an average target price of $120.41.

View Our Latest Stock Report on Tenet Healthcare

Tenet Healthcare Price Performance

THC stock traded down $1.19 during trading on Monday, reaching $136.82. The company’s stock had a trading volume of 722,983 shares, compared to its average volume of 1,205,990. The company’s fifty day moving average is $119.59 and its 200-day moving average is $98.21. Tenet Healthcare Co. has a 1 year low of $51.04 and a 1 year high of $142.35. The company has a market capitalization of $13.36 billion, a P/E ratio of 5.31, a price-to-earnings-growth ratio of 1.39 and a beta of 2.12. The company has a quick ratio of 1.37, a current ratio of 1.44 and a debt-to-equity ratio of 2.58.

Tenet Healthcare (NYSE:THCGet Free Report) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $3.22 earnings per share for the quarter, topping the consensus estimate of $1.45 by $1.77. Tenet Healthcare had a return on equity of 26.76% and a net margin of 12.53%. The business had revenue of $5.37 billion during the quarter, compared to the consensus estimate of $5.15 billion. During the same period in the prior year, the company posted $1.42 EPS. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. On average, research analysts expect that Tenet Healthcare Co. will post 8.74 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Christopher S. Lynch sold 10,861 shares of the stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $133.83, for a total transaction of $1,453,527.63. Following the completion of the transaction, the director now directly owns 14,759 shares of the company’s stock, valued at $1,975,196.97. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, Director Christopher S. Lynch sold 10,861 shares of the company’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $133.83, for a total transaction of $1,453,527.63. Following the sale, the director now owns 14,759 shares of the company’s stock, valued at $1,975,196.97. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Thomas W. Arnst sold 8,148 shares of the business’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $116.10, for a total transaction of $945,982.80. The disclosure for this sale can be found here. Insiders have sold a total of 24,691 shares of company stock worth $3,117,909 in the last 90 days. 0.93% of the stock is currently owned by corporate insiders.

About Tenet Healthcare

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Tenet Healthcare (NYSE:THC)

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