Empowered Funds LLC Increases Position in Tenet Healthcare Co. (NYSE:THC)

Empowered Funds LLC grew its position in Tenet Healthcare Co. (NYSE:THC - Free Report) by 55.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 129,431 shares of the company's stock after acquiring an additional 46,270 shares during the quarter. Empowered Funds LLC owned approximately 0.14% of Tenet Healthcare worth $16,338,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Coldstream Capital Management Inc. lifted its holdings in shares of Tenet Healthcare by 2.2% in the third quarter. Coldstream Capital Management Inc. now owns 3,406 shares of the company's stock valued at $566,000 after buying an additional 74 shares during the period. Spire Wealth Management increased its position in Tenet Healthcare by 19.5% in the 4th quarter. Spire Wealth Management now owns 558 shares of the company's stock worth $70,000 after purchasing an additional 91 shares during the last quarter. Optas LLC increased its holdings in shares of Tenet Healthcare by 3.4% during the 3rd quarter. Optas LLC now owns 2,821 shares of the company's stock valued at $469,000 after acquiring an additional 93 shares during the last quarter. Signaturefd LLC boosted its stake in Tenet Healthcare by 17.6% during the 3rd quarter. Signaturefd LLC now owns 628 shares of the company's stock valued at $104,000 after purchasing an additional 94 shares during the period. Finally, CIBC Asset Management Inc lifted its position in shares of Tenet Healthcare by 3.4% in the 3rd quarter. CIBC Asset Management Inc now owns 2,887 shares of the company's stock worth $480,000 after acquiring an additional 94 shares during the period. 95.44% of the stock is currently owned by institutional investors.

Tenet Healthcare Trading Down 9.0 %

Shares of THC stock traded down $12.54 during mid-day trading on Wednesday, hitting $126.29. The company's stock had a trading volume of 4,550,880 shares, compared to its average volume of 1,172,753. The company's fifty day simple moving average is $133.55 and its 200-day simple moving average is $148.37. Tenet Healthcare Co. has a 52 week low of $86.90 and a 52 week high of $171.20. The company has a debt-to-equity ratio of 2.35, a quick ratio of 1.52 and a current ratio of 1.58. The company has a market cap of $12.01 billion, a PE ratio of 4.05, a P/E/G ratio of 0.63 and a beta of 2.05.

Tenet Healthcare (NYSE:THC - Get Free Report) last issued its earnings results on Wednesday, February 12th. The company reported $3.44 EPS for the quarter, beating the consensus estimate of $2.95 by $0.49. Tenet Healthcare had a return on equity of 24.05% and a net margin of 14.91%. As a group, equities research analysts expect that Tenet Healthcare Co. will post 11.37 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently commented on THC. Truist Financial cut their target price on Tenet Healthcare from $190.00 to $175.00 and set a "buy" rating for the company in a research report on Monday, January 6th. UBS Group lifted their target price on Tenet Healthcare from $197.00 to $217.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. restated an "overweight" rating and issued a $175.00 price target on shares of Tenet Healthcare in a report on Tuesday, December 17th. Cantor Fitzgerald boosted their price target on Tenet Healthcare from $168.00 to $177.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 30th. Finally, The Goldman Sachs Group downgraded Tenet Healthcare from a "buy" rating to a "neutral" rating and decreased their target price for the company from $196.00 to $140.00 in a research report on Monday, December 16th. Three analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Tenet Healthcare currently has an average rating of "Moderate Buy" and a consensus price target of $165.00.

Tenet Healthcare Company 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.