Oliver Luxxe Assets LLC Has $710,000 Stock Holdings in Tenet Healthcare Co. (NYSE:THC)

Oliver Luxxe Assets LLC boosted its holdings in shares of Tenet Healthcare Co. (NYSE:THC) by 12.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,628 shares of the company’s stock after buying an additional 643 shares during the quarter. Oliver Luxxe Assets LLC’s holdings in Tenet Healthcare were worth $710,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. FMR LLC raised its stake in Tenet Healthcare by 88.0% in the 3rd quarter. FMR LLC now owns 7,700,693 shares of the company’s stock valued at $1,279,855,000 after acquiring an additional 3,604,161 shares during the period. Geode Capital Management LLC raised its position in shares of Tenet Healthcare by 23.6% in the third quarter. Geode Capital Management LLC now owns 2,044,667 shares of the company’s stock valued at $339,893,000 after purchasing an additional 390,316 shares during the period. Acadian Asset Management LLC boosted its holdings in shares of Tenet Healthcare by 7,223.1% during the 2nd quarter. Acadian Asset Management LLC now owns 326,244 shares of the company’s stock worth $43,385,000 after buying an additional 321,789 shares during the period. Iron Triangle Partners LP acquired a new position in Tenet Healthcare in the 3rd quarter valued at about $51,346,000. Finally, Allspring Global Investments Holdings LLC lifted its position in Tenet Healthcare by 344.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 317,198 shares of the company’s stock worth $52,718,000 after acquiring an additional 245,875 shares during the last quarter. 95.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

THC has been the topic of a number of recent research reports. UBS Group increased their target price on Tenet Healthcare from $197.00 to $217.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. KeyCorp started coverage on shares of Tenet Healthcare in a research report on Friday, October 11th. They issued an “overweight” rating and a $200.00 target price for the company. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $175.00 price objective on shares of Tenet Healthcare in a research note on Tuesday, December 17th. Royal Bank of Canada raised their target price on shares of Tenet Healthcare from $174.00 to $183.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Barclays boosted their price target on Tenet Healthcare from $171.00 to $190.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Three equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $165.94.

Insider Activity

In related news, EVP Lisa Y. Foo sold 4,000 shares of Tenet Healthcare stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $155.94, for a total transaction of $623,760.00. Following the sale, the executive vice president now directly owns 15,566 shares in the company, valued at $2,427,362.04. This trade represents a 20.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.93% of the company’s stock.

Tenet Healthcare Trading Up 2.5 %

THC opened at $125.69 on Tuesday. The company’s 50 day moving average is $143.47 and its 200-day moving average is $148.45. The company has a market cap of $11.95 billion, a P/E ratio of 4.03, a PEG ratio of 0.61 and a beta of 2.06. Tenet Healthcare Co. has a 1-year low of $75.83 and a 1-year high of $171.20. The company has a current ratio of 1.58, a quick ratio of 1.52 and a debt-to-equity ratio of 2.35.

Tenet Healthcare (NYSE:THC) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $2.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.33 by $0.60. Tenet Healthcare had a net margin of 14.91% and a return on equity of 24.05%. The company had revenue of $5.12 billion during the quarter, compared to the consensus estimate of $5.05 billion. The company’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.44 earnings per share. Equities research analysts predict that Tenet Healthcare Co. will post 11.38 earnings per share 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.