denkapparat Operations GmbH acquired a new stake in Tenet Healthcare Co. (NYSE:THC - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,308 shares of the company's stock, valued at approximately $291,000.
Several other institutional investors and hedge funds have also made changes to their positions in THC. Pictet Asset Management Holding SA raised its stake in Tenet Healthcare by 9.6% during the fourth quarter. Pictet Asset Management Holding SA now owns 14,018 shares of the company's stock worth $1,769,000 after acquiring an additional 1,232 shares during the period. New Age Alpha Advisors LLC acquired a new position in shares of Tenet Healthcare during the fourth quarter valued at $6,904,000. Norges Bank bought a new stake in Tenet Healthcare in the 4th quarter valued at about $190,819,000. Parametrica Management Ltd bought a new position in Tenet Healthcare in the 4th quarter worth about $225,000. Finally, Prudential Financial Inc. raised its holdings in shares of Tenet Healthcare by 8.6% during the fourth quarter. Prudential Financial Inc. now owns 121,509 shares of the company's stock valued at $15,338,000 after buying an additional 9,602 shares during the last quarter. 95.44% of the stock is owned by institutional investors and hedge funds.
Insiders Place Their Bets
In related news, Director J Robert Kerrey sold 9,525 shares of the business's stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $125.43, for a total value of $1,194,720.75. Following the completion of the transaction, the director now directly owns 27,378 shares in the company, valued at approximately $3,434,022.54. The trade was a 25.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.93% of the company's stock.
Tenet Healthcare Price Performance
Shares of NYSE THC traded up $0.79 during midday trading on Tuesday, reaching $135.29. 254,311 shares of the company traded hands, compared to its average volume of 1,479,385. The firm has a market cap of $12.87 billion, a PE ratio of 4.20, a PEG ratio of 1.02 and a beta of 2.06. The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.70 and a current ratio of 1.78. The stock's 50-day simple moving average is $132.51 and its 200-day simple moving average is $142.15. Tenet Healthcare Co. has a 12 month low of $90.03 and a 12 month high of $171.20.
Tenet Healthcare (NYSE:THC - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The company reported $3.44 earnings per share for the quarter, beating analysts' consensus estimates of $2.95 by $0.49. Tenet Healthcare had a return on equity of 21.88% and a net margin of 15.48%. As a group, equities analysts anticipate that Tenet Healthcare Co. will post 12.24 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
Several analysts recently commented on THC shares. The Goldman Sachs Group cut Tenet Healthcare from a "buy" rating to a "neutral" rating and lowered their target price for the company from $196.00 to $140.00 in a research report on Monday, December 16th. Cantor Fitzgerald restated an "overweight" rating and issued a $177.00 target price on shares of Tenet Healthcare in a research report on Thursday, February 13th. Barclays dropped their price objective on Tenet Healthcare from $190.00 to $161.00 and set an "overweight" rating on the stock in a research note on Thursday, February 13th. StockNews.com raised Tenet Healthcare from a "hold" rating to a "buy" rating in a report on Thursday, March 13th. Finally, Truist Financial dropped their price target on Tenet Healthcare from $190.00 to $175.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. Three analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Tenet Healthcare currently has an average rating of "Moderate Buy" and an average price target of $166.41.
Get Our Latest Research Report on THC
Tenet Healthcare Company Profile
(
Free Report)
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.
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