Zacks Investment Management Buys 2,804 Shares of Tenet Healthcare Co. (NYSE:THC)

Zacks Investment Management increased its stake in shares of Tenet Healthcare Co. (NYSE:THC - Free Report) by 13.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,931 shares of the company's stock after purchasing an additional 2,804 shares during the quarter. Zacks Investment Management's holdings in Tenet Healthcare were worth $2,895,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of THC. Franklin Resources Inc. grew its position in shares of Tenet Healthcare by 11.9% during the 3rd quarter. Franklin Resources Inc. now owns 457,704 shares of the company's stock valued at $71,077,000 after acquiring an additional 48,580 shares during the period. Retirement Systems of Alabama boosted its stake in shares of Tenet Healthcare by 46.6% in the third quarter. Retirement Systems of Alabama now owns 176,757 shares of the company's stock worth $29,377,000 after acquiring an additional 56,193 shares during the last quarter. B. Riley Wealth Advisors Inc. increased its position in shares of Tenet Healthcare by 101.3% during the third quarter. B. Riley Wealth Advisors Inc. now owns 7,894 shares of the company's stock worth $1,281,000 after purchasing an additional 3,973 shares in the last quarter. Nordea Investment Management AB lifted its holdings in Tenet Healthcare by 13.5% in the 4th quarter. Nordea Investment Management AB now owns 83,793 shares of the company's stock valued at $10,577,000 after purchasing an additional 9,946 shares in the last quarter. Finally, CWA Asset Management Group LLC purchased a new stake in shares of Tenet Healthcare during the fourth quarter worth $1,758,000. 95.44% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Cantor Fitzgerald restated an "overweight" rating and set a $177.00 target price on shares of Tenet Healthcare in a report on Thursday, February 13th. Baird R W lowered shares of Tenet Healthcare from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 15th. 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 note on Monday, January 6th. Barclays lowered their price target on Tenet Healthcare from $190.00 to $161.00 and set an "overweight" rating for the company in a report on Thursday, February 13th. Finally, KeyCorp reduced their price target on shares of Tenet Healthcare from $200.00 to $185.00 and set an "overweight" rating on the stock in a research note on Tuesday, January 7th. Five investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $165.44.

Tenet Healthcare Price Performance

NYSE:THC traded up $4.91 during trading hours on Wednesday, reaching $119.59. 507,824 shares of the company's stock were exchanged, compared to its average volume of 1,506,894. The company has a quick ratio of 1.70, a current ratio of 1.78 and a debt-to-equity ratio of 2.25. Tenet Healthcare Co. has a 12 month low of $92.01 and a 12 month high of $171.20. The company has a market capitalization of $11.29 billion, a P/E ratio of 3.71, a price-to-earnings-growth ratio of 1.02 and a beta of 1.77. The business's 50-day simple moving average is $127.20 and its two-hundred day simple moving average is $137.53.

Tenet Healthcare (NYSE:THC - Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $3.44 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%. Sell-side analysts expect that Tenet Healthcare Co. will post 12.24 EPS for the current fiscal year.

Insider Buying and Selling at Tenet Healthcare

In other news, Director J Robert Kerrey sold 9,525 shares of Tenet Healthcare stock in a transaction 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 sale, the director now directly 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.93% of the company's stock.

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.