Skandinaviska Enskilda Banken AB publ Buys 43,000 Shares of Tenet Healthcare Co. (NYSE:THC)

Skandinaviska Enskilda Banken AB publ grew its position in shares of Tenet Healthcare Co. (NYSE:THC - Free Report) by 120.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 78,800 shares of the company's stock after acquiring an additional 43,000 shares during the quarter. Skandinaviska Enskilda Banken AB publ owned 0.08% of Tenet Healthcare worth $9,883,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of THC. Plato Investment Management Ltd bought a new stake in shares of Tenet Healthcare during the 3rd quarter worth $28,000. True Wealth Design LLC bought a new stake in shares of Tenet Healthcare during the 3rd quarter worth $38,000. WR Wealth Planners LLC raised its stake in shares of Tenet Healthcare by 2,836.4% during the 4th quarter. WR Wealth Planners LLC now owns 323 shares of the company's stock worth $41,000 after purchasing an additional 312 shares during the period. Smartleaf Asset Management LLC raised its stake in shares of Tenet Healthcare by 30.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 471 shares of the company's stock worth $59,000 after purchasing an additional 110 shares during the period. Finally, Kestra Investment Management LLC bought a new stake in Tenet Healthcare in the 4th quarter valued at about $60,000. 95.44% of the stock is owned by hedge funds and other institutional investors.

Tenet Healthcare Trading Up 1.9 %

Shares of Tenet Healthcare stock traded up $2.36 on Wednesday, hitting $127.69. The stock had a trading volume of 838,275 shares, compared to its average volume of 1,419,386. The stock's 50-day simple moving average is $132.44 and its two-hundred day simple moving average is $143.95. Tenet Healthcare Co. has a one year low of $90.03 and a one year high of $171.20. The stock has a market cap of $12.15 billion, a price-to-earnings ratio of 3.96, a PEG ratio of 1.02 and a beta of 2.06. The company has a quick ratio of 1.70, a current ratio of 1.78 and a debt-to-equity ratio of 2.25.

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Tenet Healthcare (NYSE:THC - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $3.44 EPS for the quarter, topping 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, sell-side analysts predict that Tenet Healthcare Co. will post 12.24 EPS for the current year.

Analyst Upgrades and Downgrades

THC has been the topic of a number of research reports. Truist Financial lowered their price objective on Tenet Healthcare from $190.00 to $175.00 and set a "buy" rating on the stock in a research note on Monday, January 6th. Raymond James cut Tenet Healthcare from a "strong-buy" rating to an "outperform" rating and set a $195.00 price objective on the stock. in a research note on Friday, November 22nd. KeyCorp lowered their price objective on Tenet Healthcare from $200.00 to $185.00 and set an "overweight" rating on the stock in a research note on Tuesday, January 7th. TD Cowen initiated coverage on Tenet Healthcare in a research note on Wednesday, February 26th. They issued a "buy" rating and a $175.00 price objective on the stock. Finally, Barclays decreased 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 equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $163.88.

Insider Buying and Selling at Tenet Healthcare

In other Tenet Healthcare news, Director J Robert Kerrey sold 9,525 shares of the firm'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 of the company's stock, valued at approximately $3,434,022.54. This trade represents a 25.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.93% of the company's stock.

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.