LGT Fund Management Co Ltd. Takes Position in Tenet Healthcare Co. (NYSE:THC)

LGT Fund Management Co Ltd. acquired a new stake in Tenet Healthcare Co. (NYSE:THC - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 16,423 shares of the company's stock, valued at approximately $2,073,000.

Several other hedge funds and other institutional investors have also modified their holdings of THC. Wealth Enhancement Advisory Services LLC lifted its holdings in Tenet Healthcare by 122.8% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 8,009 shares of the company's stock valued at $1,331,000 after purchasing an additional 4,414 shares during the last quarter. First Trust Direct Indexing L.P. boosted its holdings in shares of Tenet Healthcare by 4.3% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 2,831 shares of the company's stock worth $471,000 after acquiring an additional 116 shares in the last quarter. Gladstone Institutional Advisory LLC bought a new stake in Tenet Healthcare during the 3rd quarter worth approximately $450,000. Janney Montgomery Scott LLC raised its position in Tenet Healthcare by 135.0% in the 3rd quarter. Janney Montgomery Scott LLC now owns 19,478 shares of the company's stock valued at $3,237,000 after purchasing an additional 11,188 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. bought a new position in shares of Tenet Healthcare in the third quarter valued at about $3,599,000. Institutional investors own 95.44% of the company's stock.

Analyst Upgrades and Downgrades

THC has been the subject of a number of research analyst reports. StockNews.com downgraded shares of Tenet Healthcare from a "buy" rating to a "hold" rating in a research note on Wednesday. Raymond James downgraded Tenet Healthcare from a "strong-buy" rating to an "outperform" rating and set a $195.00 price objective on the stock. in a report on Friday, November 22nd. The Goldman Sachs Group cut shares of Tenet Healthcare from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $196.00 to $140.00 in a research report on Monday, December 16th. TD Cowen began coverage on shares of Tenet Healthcare in a research note on Wednesday, February 26th. They issued a "buy" rating and a $175.00 price objective on the stock. Finally, KeyCorp cut their price target on Tenet Healthcare from $200.00 to $185.00 and set an "overweight" rating on the stock in a research note on Tuesday, January 7th. Four investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $163.88.

Tenet Healthcare Stock Performance

Shares of NYSE:THC traded down $0.26 on Thursday, hitting $125.76. The company had a trading volume of 126,906 shares, compared to its average volume of 1,397,763. The stock has a 50 day moving average price of $132.72 and a 200 day moving average price of $146.39. The company has a current ratio of 1.78, a quick ratio of 1.70 and a debt-to-equity ratio of 2.25. The stock has a market cap of $11.96 billion, a price-to-earnings ratio of 3.90, a P/E/G ratio of 1.02 and a beta of 2.06. Tenet Healthcare Co. has a 1-year low of $90.03 and a 1-year high of $171.20.

Tenet Healthcare (NYSE:THC - Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $3.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.95 by $0.49. Tenet Healthcare had a net margin of 15.48% and a return on equity of 21.88%. Analysts expect that Tenet Healthcare Co. will post 12.24 EPS for the current 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.