China Universal Asset Management Co. Ltd. Makes New Investment in Tenet Healthcare Co. (NYSE:THC)

China Universal Asset Management Co. Ltd. purchased a new stake in shares of Tenet Healthcare Co. (NYSE:THC - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 3,250 shares of the company's stock, valued at approximately $410,000.

Other large investors have also modified their holdings of the company. FMR LLC lifted its stake in Tenet Healthcare by 88.0% during the third quarter. FMR LLC now owns 7,700,693 shares of the company's stock worth $1,279,855,000 after purchasing an additional 3,604,161 shares in the last quarter. Geode Capital Management LLC lifted its stake in Tenet Healthcare by 23.6% during the 3rd quarter. Geode Capital Management LLC now owns 2,044,667 shares of the company's stock worth $339,893,000 after acquiring an additional 390,316 shares in the last quarter. Iron Triangle Partners LP acquired a new position in Tenet Healthcare in the 3rd quarter valued at about $51,346,000. Allspring Global Investments Holdings LLC lifted its position in shares of Tenet Healthcare by 344.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 317,198 shares of the company's stock worth $52,718,000 after purchasing an additional 245,875 shares in the last quarter. Finally, Point72 Asset Management L.P. grew its holdings in shares of Tenet Healthcare by 32.0% in the third quarter. Point72 Asset Management L.P. now owns 442,949 shares of the company's stock valued at $73,618,000 after purchasing an additional 107,290 shares in the last quarter. Institutional investors and hedge funds own 95.44% of the company's stock.

Analyst Ratings Changes

Several brokerages have commented on THC. Raymond James cut shares of Tenet Healthcare from a "strong-buy" rating to an "outperform" rating and set a $195.00 price target for the company. in a research report on Friday, November 22nd. JPMorgan Chase & Co. reiterated an "overweight" rating and issued a $175.00 price objective on shares of Tenet Healthcare in a research note on Tuesday, December 17th. StockNews.com cut shares of Tenet Healthcare from a "strong-buy" rating to a "buy" rating in a 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 report on Monday, January 6th. Finally, Wells Fargo & Company downgraded shares of Tenet Healthcare from an "overweight" rating to an "equal weight" rating and reduced their price objective for the stock from $205.00 to $150.00 in a research report on Monday, November 25th. Three investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Tenet Healthcare currently has an average rating of "Moderate Buy" and an average target price of $165.00.

Tenet Healthcare Stock Performance

Shares of THC stock traded down $5.22 during midday trading on Thursday, hitting $139.76. The company had a trading volume of 1,226,438 shares, compared to its average volume of 1,037,727. Tenet Healthcare Co. has a 52-week low of $86.70 and a 52-week high of $171.20. The company has a debt-to-equity ratio of 2.35, a current ratio of 1.58 and a quick ratio of 1.52. The company's 50 day simple moving average is $134.00 and its 200 day simple moving average is $148.55. The stock has a market cap of $13.29 billion, a price-to-earnings ratio of 4.48, a PEG ratio of 0.63 and a beta of 2.05.

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.