abrdn plc Has $12.32 Million Stock Holdings in Tenet Healthcare Co. (NYSE:THC)

abrdn plc lifted its holdings in Tenet Healthcare Co. (NYSE:THC - Free Report) by 29.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 98,229 shares of the company's stock after acquiring an additional 22,066 shares during the quarter. abrdn plc owned approximately 0.10% of Tenet Healthcare worth $12,320,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Plato Investment Management Ltd acquired a new position in shares of Tenet Healthcare in the 3rd quarter worth approximately $28,000. ORG Wealth Partners LLC bought a new position in Tenet Healthcare in the 3rd quarter worth approximately $30,000. Financial Management Professionals Inc. raised its position in Tenet Healthcare by 2,222.2% in the 3rd quarter. Financial Management Professionals Inc. now owns 209 shares of the company's stock worth $35,000 after purchasing an additional 200 shares during the last quarter. True Wealth Design LLC bought a new position in Tenet Healthcare in the 3rd quarter worth approximately $38,000. Finally, Spire Wealth Management raised its position in Tenet Healthcare by 19.5% in the 4th quarter. Spire Wealth Management now owns 558 shares of the company's stock worth $70,000 after purchasing an additional 91 shares during the last quarter. 95.44% of the stock is owned by institutional investors and hedge funds.

Tenet Healthcare Stock Down 0.7 %

NYSE THC traded down $0.93 on Tuesday, reaching $138.52. The company had a trading volume of 1,418,262 shares, compared to its average volume of 1,047,643. The firm has a market capitalization of $13.17 billion, a price-to-earnings ratio of 4.44, a price-to-earnings-growth ratio of 0.63 and a beta of 2.05. The company has a debt-to-equity ratio of 2.35, a quick ratio of 1.52 and a current ratio of 1.58. Tenet Healthcare Co. has a 1-year low of $86.90 and a 1-year high of $171.20. The company's fifty day moving average is $133.85 and its 200-day moving average is $148.52.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Truist Financial dropped their price objective on shares of Tenet Healthcare from $190.00 to $175.00 and set a "buy" rating for the company in a research report on Monday, January 6th. JPMorgan Chase & Co. reiterated an "overweight" rating and set a $175.00 target price on shares of Tenet Healthcare in a research report on Tuesday, December 17th. StockNews.com cut shares of Tenet Healthcare from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, December 17th. Royal Bank of Canada upped their target price 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 shares of Tenet Healthcare from a "strong-buy" rating to an "outperform" rating and set a $195.00 target price for the company. in a research report on Friday, November 22nd. Three research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $165.00.

Tenet Healthcare Company 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.