Arrowstreet Capital Limited Partnership reduced its position in Tenet Healthcare Co. (NYSE:THC - Free Report) by 2.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,773,791 shares of the company's stock after selling 41,693 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 1.87% of Tenet Healthcare worth $223,906,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of THC. Geode Capital Management LLC boosted its stake in Tenet Healthcare by 23.6% in the third quarter. Geode Capital Management LLC now owns 2,044,667 shares of the company's stock valued at $339,893,000 after acquiring an additional 390,316 shares during the period. Norges Bank acquired a new stake in Tenet Healthcare in the fourth quarter worth $190,819,000. Allianz Asset Management GmbH boosted its stake in Tenet Healthcare by 15.1% during the 4th quarter. Allianz Asset Management GmbH now owns 577,143 shares of the company's stock valued at $72,853,000 after purchasing an additional 75,688 shares during the period. Wealthfront Advisers LLC acquired a new stake in shares of Tenet Healthcare in the fourth quarter valued at approximately $69,059,000. Finally, Victory Capital Management Inc. raised its holdings in shares of Tenet Healthcare by 68.9% during the fourth quarter. Victory Capital Management Inc. now owns 507,055 shares of the company's stock valued at $64,006,000 after buying an additional 206,907 shares during the last quarter. Institutional investors own 95.44% of the company's stock.
Tenet Healthcare Stock Performance
THC stock traded down $3.55 on Thursday, reaching $133.63. 703,644 shares of the company were exchanged, compared to its average volume of 1,472,930. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.78 and a quick ratio of 1.70. The stock's fifty day moving average price is $132.55 and its 200 day moving average price is $141.91. Tenet Healthcare Co. has a 12 month low of $90.03 and a 12 month high of $171.20. The firm has a market capitalization of $12.71 billion, a PE ratio of 4.15, a PEG ratio of 1.02 and a beta of 2.06.
Tenet Healthcare (NYSE:THC - Get Free Report) last announced its quarterly earnings data 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 21.88% and a net margin of 15.48%. On average, research analysts anticipate that Tenet Healthcare Co. will post 12.24 EPS for the current fiscal year.
Analysts Set New Price Targets
THC has been the topic of several analyst reports. Morgan Stanley began coverage on Tenet Healthcare in a research report on Wednesday, March 26th. They issued an "overweight" rating and a $165.00 target price on the stock. JPMorgan Chase & Co. reaffirmed an "overweight" rating and set a $175.00 price objective on shares of Tenet Healthcare in a research note on Tuesday, December 17th. Truist Financial cut their price target on shares of Tenet Healthcare from $190.00 to $175.00 and set a "buy" rating on the stock in a report on Monday, January 6th. StockNews.com raised Tenet Healthcare from a "hold" rating to a "buy" rating in a research report on Thursday, March 13th. Finally, Barclays decreased their price objective 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. Three investment 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $166.41.
Check Out Our Latest Report on Tenet Healthcare
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 shares were 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 owns 27,378 shares in the company, valued at $3,434,022.54. The trade was a 25.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.93% of the company's stock.
About Tenet Healthcare
(
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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