AlphaQuest LLC Purchases 4,202 Shares of Tenet Healthcare Corporation $THC

AlphaQuest LLC grew its holdings in Tenet Healthcare Corporation (NYSE:THC) by 238.3% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,965 shares of the company’s stock after acquiring an additional 4,202 shares during the quarter. AlphaQuest LLC’s holdings in Tenet Healthcare were worth $1,211,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Tenet Healthcare in the second quarter valued at approximately $206,981,000. Boston Partners increased its stake in Tenet Healthcare by 95.0% during the 2nd quarter. Boston Partners now owns 2,267,142 shares of the company’s stock worth $398,949,000 after acquiring an additional 1,104,500 shares during the period. Alliancebernstein L.P. lifted its position in shares of Tenet Healthcare by 375.7% during the 2nd quarter. Alliancebernstein L.P. now owns 790,254 shares of the company’s stock valued at $139,085,000 after acquiring an additional 624,125 shares during the period. Holocene Advisors LP acquired a new stake in shares of Tenet Healthcare during the 2nd quarter worth $102,855,000. Finally, Assenagon Asset Management S.A. raised its stake in Tenet Healthcare by 331.1% in the third quarter. Assenagon Asset Management S.A. now owns 363,754 shares of the company’s stock valued at $73,857,000 after purchasing an additional 279,377 shares in the last quarter. Institutional investors own 95.44% of the company’s stock.

Tenet Healthcare Price Performance

Shares of THC opened at $189.48 on Monday. The company has a quick ratio of 1.64, a current ratio of 1.71 and a debt-to-equity ratio of 2.27. The stock has a market cap of $16.65 billion, a PE ratio of 12.99, a PEG ratio of 0.81 and a beta of 1.45. Tenet Healthcare Corporation has a 12-month low of $109.82 and a 12-month high of $222.82. The business has a 50-day simple moving average of $200.90 and a two-hundred day simple moving average of $192.16.

Wall Street Analysts Forecast Growth

THC has been the topic of several recent analyst reports. Morgan Stanley reissued an “overweight” rating and issued a $247.00 target price on shares of Tenet Healthcare in a report on Thursday, December 18th. JPMorgan Chase & Co. lifted their price objective on shares of Tenet Healthcare from $200.00 to $230.00 and gave the company an “overweight” rating in a research note on Thursday, November 13th. Barclays upped their target price on Tenet Healthcare from $229.00 to $240.00 and gave the stock an “overweight” rating in a research note on Friday, November 21st. TD Cowen reiterated a “buy” rating on shares of Tenet Healthcare in a research note on Wednesday, January 7th. Finally, Weiss Ratings raised Tenet Healthcare from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $233.81.

Insider Buying and Selling

In other news, insider R. Scott Ramsey sold 13,322 shares of Tenet Healthcare stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $205.11, for a total transaction of $2,732,475.42. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Tammy Romo sold 645 shares of the stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $205.20, for a total value of $132,354.00. Following the completion of the sale, the director owned 34,866 shares of the company’s stock, valued at $7,154,503.20. The trade was a 1.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 27,901 shares of company stock worth $5,693,966 in the last ninety days. Company insiders own 0.81% of the company’s stock.

Tenet Healthcare Company Profile

Tenet Healthcare Corporation (NYSE: THC) is a diversified American healthcare services company that owns and operates acute care hospitals and a broad range of outpatient facilities. Its portfolio includes general acute-care hospitals, specialty hospitals, ambulatory surgery centers, urgent care and diagnostic imaging centers, and other ancillary service locations. Tenet’s operations are oriented around delivering inpatient and outpatient clinical care across multiple medical specialties, with an emphasis on surgical services, emergency care, and advanced diagnostics.

In addition to facility-based care, Tenet provides integrated services designed to support clinical operations and improve patient access and care coordination.