On April 24, 2023 at 10:49:17 ET an unusually large $412.50K block of Call contracts in Tenet Healthcare (THC) was sold, with a strike price of $70.00 / share, expiring in 25 day(s) (on May 19, 2023). Fintel tracks all large options trades, and the premium spent on this trade was 1.34 sigmas above the mean, placing it in the 99.31th percentile of all recent large trades made in THC options.

This trade was first picked up on Fintel’s real time Options Flow tool, where unusual option trades are highlighted.

What is the Fund Sentiment?

There are 835 funds or institutions reporting positions in Tenet Healthcare. This is a decrease of 45 owner(s) or 5.11% in the last quarter. Average portfolio weight of all funds dedicated to THC is 0.45%, an increase of 20.62%. Total shares owned by institutions decreased in the last three months by 4.88% to 117,040K shares. The put/call ratio of THC is 0.83, indicating a bullish outlook.

Analyst Price Forecast Suggests 9.49% Upside

As of April 23, 2023, the average one-year price target for Tenet Healthcare is $75.43. The forecasts range from a low of $60.60 to a high of $99.75. The average price target represents an increase of 9.49% from its latest reported closing price of $68.89.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Tenet Healthcare is $20,256MM, an increase of 5.64%. The projected annual non-GAAP EPS is $5.79.

What are Other Shareholders Doing?

VARIABLE INSURANCE PRODUCTS FUND II – Total Market Index Portfolio Initial Class holds 2K shares representing 0.00% ownership of the company. In it’s prior filing, the firm reported owning 2K shares, representing a decrease of 2.46%. The firm decreased its portfolio allocation in THC by 10.69% over the last quarter.

Owl Creek Asset Management holds 1,158K shares representing 1.12% ownership of the company. In it’s prior filing, the firm reported owning 1,470K shares, representing a decrease of 26.97%. The firm decreased its portfolio allocation in THC by 26.74% over the last quarter.

MAIMX – Victory Integrity Mid-Cap Value Fund holds 38K shares representing 0.04% ownership of the company. In it’s prior filing, the firm reported owning 31K shares, representing an increase of 18.45%. The firm increased its portfolio allocation in THC by 3.90% over the last quarter.

SMMD – iShares Russell 2500 ETF holds 11K shares representing 0.01% ownership of the company. In it’s prior filing, the firm reported owning 9K shares, representing an increase of 14.05%. The firm decreased its portfolio allocation in THC by 10.76% over the last quarter.

VSEQX – Vanguard Strategic Equity Fund Investor Shares holds 425K shares representing 0.41% ownership of the company. In it’s prior filing, the firm reported owning 265K shares, representing an increase of 37.51%. The firm increased its portfolio allocation in THC by 39.27% over the last quarter.

Tenet Healthcare Background Information
(This description is provided by the company.)

Tenet Healthcare Corporation is a diversified healthcare services company headquartered in Dallas with 110,000 employees. Through an expansive care network that includes United Surgical Partners International, we operate 65 hospitals and approximately 550 other healthcare facilities, including surgical hospitals, ambulatory surgery centers, urgent care and imaging centers and other care sites and clinics. Tenet Healthcare Corporation also operates Conifer Health Solutions, which provides revenue cycle management and value-based care services to hospitals, health systems, physician practices, employers and other clients. Across the Tenet enterprise, we are united by our mission to deliver quality, compassionate care in the communities we serve.

See all Tenet Healthcare regulatory filings.

This article originally appeared on Fintel

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