Alpha DNA Investment Management LLC Acquires 307 Shares of Tenet Healthcare Co. (NYSE:THC)

Alpha DNA Investment Management LLC raised its position in shares of Tenet Healthcare Co. (NYSE:THC) by 10.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,352 shares of the company’s stock after purchasing an additional 307 shares during the period. Alpha DNA Investment Management LLC’s holdings in Tenet Healthcare were worth $423,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently added to or reduced their stakes in THC. New Wave Wealth Advisors LLC purchased a new position in Tenet Healthcare during the fourth quarter valued at approximately $343,000. Swedbank AB grew its position in Tenet Healthcare by 100.0% during the fourth quarter. Swedbank AB now owns 40,000 shares of the company’s stock worth $5,049,000 after buying an additional 20,000 shares in the last quarter. Signet Financial Management LLC bought a new position in shares of Tenet Healthcare in the fourth quarter worth approximately $1,526,000. China Universal Asset Management Co. Ltd. bought a new position in shares of Tenet Healthcare in the 4th quarter worth $410,000. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in Tenet Healthcare during the fourth quarter valued at about $5,892,000. Hedge funds and other institutional investors own 95.44% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on THC shares. TD Cowen assumed coverage on shares of Tenet Healthcare in a research report on Wednesday, February 26th. They set a “buy” rating and a $175.00 price target on the stock. Truist Financial reduced their price target on Tenet Healthcare from $190.00 to $175.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Barclays reduced their target price on Tenet Healthcare from $190.00 to $161.00 and set an “overweight” rating on the stock in a report on Thursday, February 13th. StockNews.com upgraded shares of Tenet Healthcare from a “hold” rating to a “buy” rating in a research note on Thursday, March 13th. Finally, Guggenheim initiated coverage on shares of Tenet Healthcare in a research note on Wednesday, April 9th. They issued a “buy” rating and a $165.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $165.44.

Insider Transactions at Tenet Healthcare

In related news, Director J Robert Kerrey sold 9,525 shares of the company’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $125.43, for a total transaction of $1,194,720.75. Following the transaction, the director now directly owns 27,378 shares of the company’s stock, valued at $3,434,022.54. This represents a 25.81 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.93% of the company’s stock.

Tenet Healthcare Stock Up 0.9 %

NYSE:THC opened at $121.47 on Friday. 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 current ratio of 1.78 and a quick ratio of 1.70. The firm has a market cap of $11.55 billion, a PE ratio of 3.77, a price-to-earnings-growth ratio of 1.02 and a beta of 1.77. The company has a 50-day moving average of $127.88 and a 200 day moving average of $138.31.

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

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.