Allspring Global Investments Holdings LLC lessened its stake in Tenet Healthcare Co. (NYSE:THC - Free Report) by 5.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 300,779 shares of the company's stock after selling 16,419 shares during the period. Allspring Global Investments Holdings LLC owned 0.32% of Tenet Healthcare worth $37,689,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds also recently added to or reduced their stakes in THC. Plato Investment Management Ltd purchased a new position in Tenet Healthcare in the third quarter valued at about $28,000. Financial Management Professionals Inc. grew its stake in Tenet Healthcare by 2,222.2% in the third quarter. Financial Management Professionals Inc. now owns 209 shares of the company's stock valued at $35,000 after purchasing an additional 200 shares during the last quarter. True Wealth Design LLC purchased a new position in Tenet Healthcare in the third quarter valued at about $38,000. Wilmington Savings Fund Society FSB grew its stake in shares of Tenet Healthcare by 1,352.8% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 523 shares of the company's stock worth $66,000 after acquiring an additional 487 shares during the last quarter. Finally, Spire Wealth Management grew its stake in shares of Tenet Healthcare by 19.5% during the fourth quarter. Spire Wealth Management now owns 558 shares of the company's stock worth $70,000 after acquiring an additional 91 shares during the last quarter. Hedge funds and other institutional investors own 95.44% of the company's stock.
Tenet Healthcare Price Performance
Shares of THC stock traded up $3.32 during trading hours on Tuesday, hitting $136.63. 843,271 shares of the company's stock were exchanged, compared to its average volume of 1,235,160. The company has a quick ratio of 1.52, a current ratio of 1.58 and a debt-to-equity ratio of 2.35. The firm has a market cap of $12.99 billion, a P/E ratio of 4.38, a P/E/G ratio of 0.63 and a beta of 2.05. The firm has a 50 day moving average of $133.17 and a two-hundred day moving average of $148.00. Tenet Healthcare Co. has a fifty-two week low of $88.98 and a fifty-two week high of $171.20.
Tenet Healthcare (NYSE:THC - Get Free Report) last announced its earnings results on Wednesday, February 12th. The company reported $3.44 earnings per share for the quarter, topping the consensus estimate of $2.95 by $0.49. Tenet Healthcare had a return on equity of 24.05% and a net margin of 14.91%. Sell-side analysts forecast that Tenet Healthcare Co. will post 11.37 EPS for the current year.
Analysts Set New Price Targets
THC has been the topic of a number of research analyst reports. UBS Group boosted their price target on Tenet Healthcare from $197.00 to $217.00 and gave the stock a "buy" rating in a research note on Wednesday, October 30th. StockNews.com lowered Tenet Healthcare from a "buy" rating to a "hold" rating in a research report on Thursday, February 13th. JPMorgan Chase & Co. reiterated an "overweight" rating and issued a $175.00 target price on shares of Tenet Healthcare in a research report on Tuesday, December 17th. Truist Financial dropped their target price 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. Finally, Royal Bank of Canada upped their target price on Tenet Healthcare from $174.00 to $183.00 and gave the company an "outperform" rating in a research report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $163.19.
Get Our Latest Analysis 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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