American Century Companies Inc. Buys 4,947 Shares of Tenet Healthcare Co. (NYSE:THC)

American Century Companies Inc. grew its position in Tenet Healthcare Co. (NYSE:THC - Free Report) by 16.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 34,866 shares of the company's stock after purchasing an additional 4,947 shares during the period. American Century Companies Inc.'s holdings in Tenet Healthcare were worth $4,401,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in THC. Coldstream Capital Management Inc. raised its stake in Tenet Healthcare by 2.2% during the 3rd quarter. Coldstream Capital Management Inc. now owns 3,406 shares of the company's stock valued at $566,000 after acquiring an additional 74 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Tenet Healthcare by 9.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 940 shares of the company's stock worth $119,000 after purchasing an additional 80 shares during the period. Spire Wealth Management increased its stake in Tenet Healthcare by 19.5% during the 4th quarter. Spire Wealth Management now owns 558 shares of the company's stock valued at $70,000 after buying an additional 91 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in Tenet Healthcare by 1.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 8,109 shares of the company's stock worth $1,024,000 after purchasing an additional 100 shares in the last quarter. Finally, Smartleaf Asset Management LLC boosted its stake in Tenet Healthcare by 30.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 471 shares of the company's stock valued at $59,000 after buying an additional 110 shares in the last quarter. Institutional investors own 95.44% of the company's stock.

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Tenet Healthcare Stock Performance

Shares of NYSE:THC traded down $3.48 on Thursday, hitting $127.59. 1,160,275 shares of the company were exchanged, compared to its average volume of 1,532,556. The company's 50 day moving average price is $130.18 and its two-hundred day moving average price is $139.91. The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.70 and a current ratio of 1.78. Tenet Healthcare Co. has a one year low of $90.03 and a one year high of $171.20. The firm has a market capitalization of $12.14 billion, a price-to-earnings ratio of 3.96, a PEG ratio of 1.02 and a beta of 1.77.

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

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Barclays decreased their price target on Tenet Healthcare from $190.00 to $161.00 and set an "overweight" rating for the company in a research report on Thursday, February 13th. StockNews.com upgraded shares of Tenet Healthcare from a "hold" rating to a "buy" rating in a report on Thursday, March 13th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $177.00 price objective on shares of Tenet Healthcare in a research note on Thursday, February 13th. TD Cowen initiated coverage on Tenet Healthcare in a report on Wednesday, February 26th. They issued a "buy" rating and a $175.00 target price for the company. Finally, Truist Financial lowered their price target on Tenet Healthcare from $190.00 to $175.00 and set a "buy" rating on the stock in a report on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Tenet Healthcare currently has an average rating of "Moderate Buy" and an average target price of $166.33.

Insider Buying and Selling

In related news, Director J Robert Kerrey sold 9,525 shares of the stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $125.43, for a total transaction of $1,194,720.75. Following the completion of the sale, the director now directly owns 27,378 shares of the company's stock, valued at approximately $3,434,022.54. This represents a 25.81 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.93% of the stock is currently owned by insiders.

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.