Asset Management One Co. Ltd. increased its holdings in shares of Tenet Healthcare Co. (NYSE:THC - Free Report) by 541.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,478 shares of the company's stock after purchasing an additional 8,000 shares during the quarter. Asset Management One Co. Ltd.'s holdings in Tenet Healthcare were worth $1,213,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the business. Castellan Group lifted its stake in Tenet Healthcare by 4.4% during the fourth quarter. Castellan Group now owns 39,588 shares of the company's stock worth $4,997,000 after purchasing an additional 1,663 shares during the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in Tenet Healthcare in the fourth quarter valued at approximately $5,892,000. Savant Capital LLC lifted its stake in Tenet Healthcare by 10.4% in the fourth quarter. Savant Capital LLC now owns 7,439 shares of the company's stock valued at $939,000 after buying an additional 699 shares during the last quarter. Empirical Finance LLC lifted its stake in Tenet Healthcare by 69.0% in the fourth quarter. Empirical Finance LLC now owns 8,360 shares of the company's stock valued at $1,055,000 after buying an additional 3,414 shares during the last quarter. Finally, Empowered Funds LLC lifted its stake in Tenet Healthcare by 55.6% in the fourth quarter. Empowered Funds LLC now owns 129,431 shares of the company's stock valued at $16,338,000 after buying an additional 46,270 shares during the last quarter. Hedge funds and other institutional investors own 95.44% of the company's stock.
Tenet Healthcare Price Performance
Tenet Healthcare stock traded down $7.67 during trading hours on Friday, hitting $129.57. The stock had a trading volume of 1,741,974 shares, compared to its average volume of 1,340,176. 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 has a market capitalization of $12.32 billion, a price-to-earnings ratio of 4.02, a PEG ratio of 1.01 and a beta of 2.05. Tenet Healthcare Co. has a 1-year low of $88.98 and a 1-year high of $171.20. The stock's fifty day moving average is $133.04 and its two-hundred day moving average is $147.79.
Tenet Healthcare (NYSE:THC - Get Free Report) last posted its earnings results on Wednesday, February 12th. The company reported $3.44 earnings per share for the quarter, beating 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%. As a group, analysts predict that Tenet Healthcare Co. will post 12.24 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
A number of brokerages have weighed in on THC. StockNews.com cut Tenet Healthcare from a "buy" rating to a "hold" rating in a research note on Thursday, February 13th. Barclays dropped their target price on Tenet Healthcare from $190.00 to $161.00 and set an "overweight" rating on the stock in a report on Thursday, February 13th. Raymond James lowered Tenet Healthcare from a "strong-buy" rating to an "outperform" rating and set a $195.00 target price on the stock. in a report on Friday, November 22nd. UBS Group boosted their target price on Tenet Healthcare from $197.00 to $217.00 and gave the company a "buy" rating in a report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. reissued an "overweight" rating and issued a $175.00 target price on shares of Tenet Healthcare in a report on Tuesday, December 17th. Four research 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.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $163.19.
Read Our Latest Analysis on Tenet Healthcare
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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