Oliver Luxxe Assets LLC increased its stake in Tenet Healthcare Co. (NYSE:THC – Free Report) by 12.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,628 shares of the company’s stock after acquiring an additional 643 shares during the quarter. Oliver Luxxe Assets LLC’s holdings in Tenet Healthcare were worth $710,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in THC. CIBC Asset Management Inc increased its position in shares of Tenet Healthcare by 7.8% during the second quarter. CIBC Asset Management Inc now owns 2,793 shares of the company’s stock worth $372,000 after buying an additional 202 shares during the period. TD Asset Management Inc grew its holdings in Tenet Healthcare by 22.6% during the 2nd quarter. TD Asset Management Inc now owns 144,654 shares of the company’s stock worth $19,243,000 after acquiring an additional 26,698 shares during the period. Savant Capital LLC raised its position in shares of Tenet Healthcare by 65.6% in the 2nd quarter. Savant Capital LLC now owns 7,522 shares of the company’s stock worth $1,001,000 after acquiring an additional 2,979 shares in the last quarter. Acadian Asset Management LLC boosted its position in shares of Tenet Healthcare by 7,223.1% during the 2nd quarter. Acadian Asset Management LLC now owns 326,244 shares of the company’s stock valued at $43,385,000 after purchasing an additional 321,789 shares in the last quarter. Finally, Caprock Group LLC bought a new stake in Tenet Healthcare in the second quarter worth approximately $477,000. 95.44% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Several analysts have recently commented on the stock. UBS Group raised their price objective on shares of Tenet Healthcare from $197.00 to $217.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. 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 research note on Wednesday, October 30th. Truist Financial cut their price objective on shares of Tenet Healthcare from $190.00 to $175.00 and set a “buy” rating on the stock in a research report on Monday. KeyCorp assumed coverage on Tenet Healthcare in a research note on Friday, October 11th. They set an “overweight” rating and a $200.00 price target on the stock. Finally, JPMorgan Chase & Co. restated an “overweight” rating and set a $175.00 price objective on shares of Tenet Healthcare in a report on Tuesday, December 17th. Three analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $165.94.
Tenet Healthcare Stock Performance
Shares of THC opened at $125.69 on Tuesday. The stock has a 50 day moving average of $143.47 and a 200 day moving average of $148.45. The company has a current ratio of 1.58, a quick ratio of 1.52 and a debt-to-equity ratio of 2.35. Tenet Healthcare Co. has a 12 month low of $75.83 and a 12 month high of $171.20. The company has a market capitalization of $11.95 billion, a price-to-earnings ratio of 4.03, a PEG ratio of 0.61 and a beta of 2.06.
Tenet Healthcare (NYSE:THC – Get Free Report) last issued its quarterly earnings results 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. The company had revenue of $5.12 billion for the quarter, compared to the consensus estimate of $5.05 billion. Tenet Healthcare had a net margin of 14.91% and a return on equity of 24.05%. The firm’s quarterly revenue was up 1.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.44 EPS. As a group, sell-side analysts forecast that Tenet Healthcare Co. will post 11.38 earnings per share for the current year.
Insider Buying and Selling at Tenet Healthcare
In other Tenet Healthcare news, EVP Lisa Y. Foo sold 4,000 shares of the company’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $155.94, for a total transaction of $623,760.00. Following the sale, the executive vice president now directly owns 15,566 shares of the company’s stock, valued at $2,427,362.04. This represents a 20.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.93% of the stock is owned by corporate insiders.
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.
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