Islay Capital Management LLC Takes Position in Tenet Healthcare Co. (NYSE:THC)

Islay Capital Management LLC purchased a new stake in Tenet Healthcare Co. (NYSE:THC) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 5,474 shares of the company’s stock, valued at approximately $691,000.

A number of other large investors have also recently bought and sold shares of THC. Townsquare Capital LLC acquired a new stake in shares of Tenet Healthcare during the 3rd quarter worth approximately $384,000. Captrust Financial Advisors boosted its holdings in shares of Tenet Healthcare by 80.7% in the 3rd quarter. Captrust Financial Advisors now owns 2,747 shares of the company’s stock valued at $456,000 after purchasing an additional 1,227 shares in the last quarter. HighTower Advisors LLC raised its holdings in shares of Tenet Healthcare by 12.1% during the 3rd quarter. HighTower Advisors LLC now owns 7,036 shares of the company’s stock worth $1,161,000 after buying an additional 758 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of Tenet Healthcare by 7.6% during the 3rd quarter. Janus Henderson Group PLC now owns 44,102 shares of the company’s stock worth $7,329,000 after buying an additional 3,100 shares during the last quarter. Finally, Maven Securities LTD bought a new position in Tenet Healthcare in the third quarter valued at about $332,000. 95.44% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on THC shares. KeyCorp reduced 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. Truist Financial lowered their price target on shares of Tenet Healthcare from $190.00 to $175.00 and set a “buy” rating for the company in a report on Monday, January 6th. TD Cowen assumed coverage on Tenet Healthcare in a report on Wednesday, February 26th. They set a “buy” rating and a $175.00 price objective on the stock. The Goldman Sachs Group cut Tenet Healthcare from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $196.00 to $140.00 in a report on Monday, December 16th. Finally, StockNews.com upgraded Tenet Healthcare from a “hold” rating to a “buy” rating in a report on Thursday, March 13th. Three equities research 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 company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $166.41.

Insider Buying and Selling at Tenet Healthcare

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 transaction, the director now directly owns 27,378 shares in the company, valued at $3,434,022.54. This trade represents a 25.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.93% of the company’s stock.

Tenet Healthcare Stock Performance

Shares of THC stock opened at $120.23 on Friday. The firm has a 50 day moving average of $132.13 and a 200-day moving average of $141.54. The company has a market cap of $11.44 billion, a price-to-earnings ratio of 3.73, a price-to-earnings-growth ratio of 1.02 and a beta of 1.77. The company has a quick ratio of 1.70, a current ratio of 1.78 and a debt-to-equity ratio of 2.25. Tenet Healthcare Co. has a 52 week low of $90.03 and a 52 week high of $171.20.

Tenet Healthcare (NYSE:THC) last posted its quarterly 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 net margin of 15.48% and a return on equity of 21.88%. On average, equities analysts forecast that Tenet Healthcare Co. will post 12.24 earnings per share for the current year.

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.