Townsquare Capital LLC Invests $384,000 in Tenet Healthcare Co. (NYSE:THC)

Townsquare Capital LLC acquired a new position in Tenet Healthcare Co. (NYSE:THC) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 2,309 shares of the company’s stock, valued at approximately $384,000.

Several other institutional investors and hedge funds also recently made changes to their positions in THC. FMR LLC increased its position in shares of Tenet Healthcare by 88.0% during the third quarter. FMR LLC now owns 7,700,693 shares of the company’s stock worth $1,279,855,000 after acquiring an additional 3,604,161 shares in the last quarter. Marshall Wace LLP grew its stake in Tenet Healthcare by 7.3% in the 2nd quarter. Marshall Wace LLP now owns 713,979 shares of the company’s stock valued at $94,981,000 after purchasing an additional 48,626 shares during the period. Farallon Capital Management LLC lifted its stake in shares of Tenet Healthcare by 7.8% during the 2nd quarter. Farallon Capital Management LLC now owns 687,442 shares of the company’s stock valued at $91,450,000 after buying an additional 50,000 shares in the last quarter. Integral Health Asset Management LLC boosted its holdings in shares of Tenet Healthcare by 17.6% in the second quarter. Integral Health Asset Management LLC now owns 500,000 shares of the company’s stock worth $66,515,000 after acquiring an additional 75,000 shares during the period. Finally, AQR Capital Management LLC grew its holdings in Tenet Healthcare by 35.2% during the 2nd quarter. AQR Capital Management LLC now owns 341,250 shares of the company’s stock valued at $45,396,000 after buying an additional 88,781 shares in the last quarter. Institutional investors own 95.44% of the company’s stock.

Insider Buying and Selling at Tenet Healthcare

In other news, EVP Lisa Y. Foo sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $155.94, for a total value of $623,760.00. Following the transaction, the executive vice president now owns 15,566 shares of the company’s stock, valued at approximately $2,427,362.04. The trade was a 20.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.93% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on THC. Cantor Fitzgerald boosted their price target on shares of Tenet Healthcare from $168.00 to $177.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. UBS Group boosted their price objective on Tenet Healthcare from $197.00 to $217.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Barclays upped their price target on shares of Tenet Healthcare from $171.00 to $190.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Royal Bank of Canada boosted their price objective on shares of Tenet Healthcare from $174.00 to $183.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Finally, Raymond James cut Tenet Healthcare from a “strong-buy” rating to an “outperform” rating and set a $195.00 price target on the stock. in a research note on Friday, November 22nd. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $168.19.

Tenet Healthcare Price Performance

Tenet Healthcare stock opened at $138.90 on Friday. The company has a quick ratio of 1.52, a current ratio of 1.58 and a debt-to-equity ratio of 2.35. The company has a fifty day simple moving average of $155.33 and a 200-day simple moving average of $148.87. Tenet Healthcare Co. has a 52-week low of $67.78 and a 52-week high of $171.20. The firm has a market capitalization of $13.21 billion, a price-to-earnings ratio of 4.45, a PEG ratio of 0.63 and a beta of 2.06.

Tenet Healthcare (NYSE:THC) last released its quarterly earnings data on Tuesday, October 29th. The company reported $2.93 EPS for the quarter, beating analysts’ consensus estimates of $2.33 by $0.60. The firm had revenue of $5.12 billion for the quarter, compared to analysts’ expectations of $5.05 billion. Tenet Healthcare had a return on equity of 24.05% and a net margin of 14.91%. The firm’s quarterly revenue was up 1.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.44 earnings per share. On average, equities analysts anticipate that Tenet Healthcare Co. will post 11.38 EPS for the current fiscal year.

Tenet Healthcare 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.