MetLife Investment Management LLC Increases Stake in Tenet Healthcare Co. (NYSE:THC)

MetLife Investment Management LLC grew its holdings in shares of Tenet Healthcare Co. (NYSE:THC - Free Report) by 8.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 53,607 shares of the company's stock after purchasing an additional 4,093 shares during the quarter. MetLife Investment Management LLC owned about 0.06% of Tenet Healthcare worth $6,767,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. BI Asset Management Fondsmaeglerselskab A S boosted its holdings in shares of Tenet Healthcare by 41.6% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 171,676 shares of the company's stock worth $21,671,000 after acquiring an additional 50,421 shares during the period. Dimensional Fund Advisors LP boosted its stake in Tenet Healthcare by 22.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,493,532 shares of the company's stock worth $188,524,000 after purchasing an additional 272,906 shares during the period. First Trust Advisors LP grew its holdings in Tenet Healthcare by 11.6% during the 4th quarter. First Trust Advisors LP now owns 305,858 shares of the company's stock valued at $38,608,000 after buying an additional 31,815 shares in the last quarter. Forum Financial Management LP lifted its holdings in shares of Tenet Healthcare by 43.5% in the fourth quarter. Forum Financial Management LP now owns 2,469 shares of the company's stock worth $312,000 after buying an additional 749 shares in the last quarter. Finally, GeoWealth Management LLC grew its stake in Tenet Healthcare by 39.8% during the fourth quarter. GeoWealth Management LLC now owns 295 shares of the company's stock valued at $37,000 after acquiring an additional 84 shares in the last quarter. Institutional investors own 95.44% of the company's stock.

Tenet Healthcare Trading Up 3.8 %

NYSE:THC opened at $114.57 on Wednesday. The firm has a market capitalization of $10.81 billion, a P/E ratio of 3.55, a P/E/G ratio of 1.02 and a beta of 1.77. Tenet Healthcare Co. has a 52 week low of $92.01 and a 52 week high of $171.20. The company has a quick ratio of 1.70, a current ratio of 1.78 and a debt-to-equity ratio of 2.25. The company has a fifty day moving average of $127.20 and a 200 day moving average of $137.53.

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, topping analysts' consensus estimates of $2.95 by $0.49. Tenet Healthcare had a net margin of 15.48% and a return on equity of 21.88%. On average, research analysts predict that Tenet Healthcare Co. will post 12.24 earnings per share for the current year.

Analyst Upgrades and Downgrades

THC has been the subject of several analyst reports. TD Cowen started coverage on shares of Tenet Healthcare in a report on Wednesday, February 26th. They issued a "buy" rating and a $175.00 price target for the company. KeyCorp reduced their target price on Tenet Healthcare from $200.00 to $185.00 and set an "overweight" rating for the company in a research report on Tuesday, January 7th. Truist Financial dropped their price target 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. Cantor Fitzgerald restated an "overweight" rating and issued a $177.00 price objective on shares of Tenet Healthcare in a research report on Thursday, February 13th. Finally, StockNews.com raised shares of Tenet Healthcare from a "hold" rating to a "buy" rating in a report on Thursday, March 13th. Five analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $165.44.

Insider Activity at Tenet Healthcare

In other news, Director J Robert Kerrey sold 9,525 shares of the firm's stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $125.43, for a total value 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. This trade represents a 25.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.93% of the stock is owned by corporate insiders.

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.

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