KLP Kapitalforvaltning AS Takes $2.78 Million Position in Tenet Healthcare Co. (NYSE:THC)

KLP Kapitalforvaltning AS acquired a new stake in shares of Tenet Healthcare Co. (NYSE:THC - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 22,000 shares of the company's stock, valued at approximately $2,777,000.

Several other large investors also recently modified their holdings of the business. Hillsdale Investment Management Inc. grew its position in shares of Tenet Healthcare by 21.7% in the 4th quarter. Hillsdale Investment Management Inc. now owns 5,600 shares of the company's stock worth $707,000 after buying an additional 1,000 shares during the last quarter. Sei Investments Co. lifted its position in Tenet Healthcare by 8.0% during the fourth quarter. Sei Investments Co. now owns 243,425 shares of the company's stock valued at $30,726,000 after buying an additional 18,077 shares during the period. American Century Companies Inc. grew its position in shares of Tenet Healthcare by 16.5% in the 4th quarter. American Century Companies Inc. now owns 34,866 shares of the company's stock worth $4,401,000 after buying an additional 4,947 shares during the period. Quantbot Technologies LP lifted its position in Tenet Healthcare by 23.8% during the 4th quarter. Quantbot Technologies LP now owns 28,624 shares of the company's stock valued at $3,613,000 after acquiring an additional 5,504 shares during the period. Finally, Oxford Financial Group LTD. LLC bought a new stake in Tenet Healthcare during the fourth quarter worth about $542,000. 95.44% of the stock is owned by institutional investors.

Tenet Healthcare Price Performance

Shares of NYSE:THC traded down $1.27 on Friday, reaching $133.17. The company's stock had a trading volume of 864,471 shares, compared to its average volume of 1,506,396. The company has a 50-day simple moving average of $132.43 and a 200 day simple moving average of $142.31. The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.70 and a current ratio of 1.78. The company has a market cap of $12.67 billion, a P/E ratio of 4.13, a PEG ratio of 1.02 and a beta of 2.06. Tenet Healthcare Co. has a 52-week low of $90.03 and a 52-week high of $171.20.

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Tenet Healthcare (NYSE:THC - Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $3.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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, equities research analysts anticipate that Tenet Healthcare Co. will post 12.24 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on THC. StockNews.com raised Tenet Healthcare from a "hold" rating to a "buy" rating in a research report on Thursday, March 13th. Truist Financial dropped their price target on shares of Tenet Healthcare from $190.00 to $175.00 and set a "buy" rating on the stock in a research note on Monday, January 6th. TD Cowen assumed coverage on Tenet Healthcare in a report on Wednesday, February 26th. They issued a "buy" rating and a $175.00 target price for the company. The Goldman Sachs Group cut Tenet Healthcare from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $196.00 to $140.00 in a research report on Monday, December 16th. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $177.00 target price on shares of Tenet Healthcare in a research note on Thursday, February 13th. Three equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $166.41.

Insider Buying and Selling

In related news, Director J Robert Kerrey sold 9,525 shares of the business's stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $125.43, for a total transaction 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.93% of the stock is currently owned by corporate insiders.

About Tenet Healthcare

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.