Denali Advisors LLC Boosts Position in Tenet Healthcare Co. (NYSE:THC)

Denali Advisors LLC grew its stake in Tenet Healthcare Co. (NYSE:THC - Free Report) by 31.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 33,515 shares of the company's stock after buying an additional 7,929 shares during the quarter. Denali Advisors LLC's holdings in Tenet Healthcare were worth $4,231,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Los Angeles Capital Management LLC boosted its stake in shares of Tenet Healthcare by 396.9% in the 4th quarter. Los Angeles Capital Management LLC now owns 111,781 shares of the company's stock valued at $14,110,000 after buying an additional 89,287 shares during the period. IFP Advisors Inc boosted its stake in shares of Tenet Healthcare by 21.4% in the 4th quarter. IFP Advisors Inc now owns 4,503 shares of the company's stock valued at $568,000 after buying an additional 794 shares during the period. South Dakota Investment Council raised its position in shares of Tenet Healthcare by 175.9% during the 4th quarter. South Dakota Investment Council now owns 35,690 shares of the company's stock worth $4,505,000 after acquiring an additional 22,756 shares in the last quarter. Lattice Capital Management LLC acquired a new stake in shares of Tenet Healthcare during the 4th quarter worth about $379,000. Finally, Allianz Asset Management GmbH raised its position in shares of Tenet Healthcare by 15.1% during the 4th quarter. Allianz Asset Management GmbH now owns 577,143 shares of the company's stock worth $72,853,000 after acquiring an additional 75,688 shares in the last quarter. Hedge funds and other institutional investors own 95.44% of the company's stock.

Tenet Healthcare Stock Performance

Shares of THC stock traded down $3.90 during midday trading on Friday, hitting $126.58. The company had a trading volume of 3,557,071 shares, compared to its average volume of 1,413,571. The company's 50 day simple moving average is $133.03 and its 200 day simple moving average is $147.07. Tenet Healthcare Co. has a 52-week low of $90.03 and a 52-week high of $171.20. The stock has a market cap of $12.04 billion, a price-to-earnings ratio of 3.93, a PEG ratio of 1.02 and a beta of 2.05. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.78 and a quick ratio of 1.70.

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, 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%. Research analysts anticipate that Tenet Healthcare Co. will post 12.24 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on THC. Truist Financial cut 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. Cantor Fitzgerald reissued an "overweight" rating and set a $177.00 target price on shares of Tenet Healthcare in a research report on Thursday, February 13th. The Goldman Sachs Group lowered Tenet Healthcare from a "buy" rating to a "neutral" rating and cut their target price for the stock from $196.00 to $140.00 in a research report on Monday, December 16th. Raymond James lowered Tenet Healthcare from a "strong-buy" rating to an "outperform" rating and set a $195.00 price target on the stock. in a research report on Friday, November 22nd. Finally, Barclays cut their price target on Tenet Healthcare from $190.00 to $161.00 and set an "overweight" rating on the stock in a research report on Thursday, February 13th. Three investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $163.88.

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.