Tenet Healthcare Co. (NYSE:THC) Shares Bought by Nordea Investment Management AB

Nordea Investment Management AB increased its stake in shares of Tenet Healthcare Co. (NYSE:THC - Free Report) by 13.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 83,793 shares of the company's stock after purchasing an additional 9,946 shares during the period. Nordea Investment Management AB owned approximately 0.09% of Tenet Healthcare worth $10,577,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in THC. Plato Investment Management Ltd bought a new stake in shares of Tenet Healthcare in the third quarter worth $28,000. ORG Wealth Partners LLC bought a new stake in shares of Tenet Healthcare during the 3rd quarter valued at about $30,000. Kayne Anderson Rudnick Investment Management LLC bought a new position in shares of Tenet Healthcare in the 2nd quarter worth approximately $34,000. Financial Management Professionals Inc. grew its position in Tenet Healthcare by 2,222.2% during the third quarter. Financial Management Professionals Inc. now owns 209 shares of the company's stock valued at $35,000 after buying an additional 200 shares during the period. Finally, True Wealth Design LLC bought a new position in Tenet Healthcare in the third quarter worth approximately $38,000. Hedge funds and other institutional investors own 95.44% of the company's stock.

Insider Buying and Selling at Tenet Healthcare

In other news, EVP Lisa Y. Foo sold 4,000 shares of the stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $155.94, for a total value of $623,760.00. Following the transaction, the executive vice president now directly owns 15,566 shares of the company's stock, valued at approximately $2,427,362.04. This represents a 20.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.93% of the stock is currently owned by company insiders.

Tenet Healthcare Stock Up 1.0 %

THC stock traded up $1.28 during trading on Thursday, reaching $130.08. 1,162,975 shares of the company traded hands, compared to its average volume of 1,173,395. 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 capitalization of $12.37 billion, a price-to-earnings ratio of 4.17, a price-to-earnings-growth ratio of 0.61 and a beta of 2.06. The business has a 50 day simple moving average of $141.73 and a 200 day simple moving average of $148.16. Tenet Healthcare Co. has a 12 month low of $78.00 and a 12 month high of $171.20.

Tenet Healthcare (NYSE:THC - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $2.93 earnings per share for the quarter, topping analysts' consensus estimates of $2.33 by $0.60. Tenet Healthcare had a return on equity of 24.05% and a net margin of 14.91%. The firm had revenue of $5.12 billion during the quarter, compared to analysts' expectations of $5.05 billion. During the same quarter last year, the firm earned $1.44 EPS. The business's quarterly revenue was up 1.1% on a year-over-year basis. On average, equities research analysts anticipate that Tenet Healthcare Co. will post 11.38 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

THC has been the topic of several analyst reports. Truist Financial lowered 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. KeyCorp cut their price objective on Tenet Healthcare from $200.00 to $185.00 and set an "overweight" rating for the company in a research note on Tuesday. Royal Bank of Canada lifted their price target on shares of Tenet Healthcare from $174.00 to $183.00 and gave the company an "outperform" rating in a report on Wednesday, October 30th. Barclays raised their price target on Tenet Healthcare from $171.00 to $190.00 and gave the company an "overweight" rating in a report on Friday, November 8th. Finally, Wells Fargo & Company downgraded shares of Tenet Healthcare from an "overweight" rating to an "equal weight" rating and lowered their target price for the stock from $205.00 to $150.00 in a report on Monday, November 25th. Three research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $165.00.

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.