Nordea Investment Management AB Acquires 9,946 Shares of Tenet Healthcare Co. (NYSE:THC)

Nordea Investment Management AB grew its holdings in shares of Tenet Healthcare Co. (NYSE:THC) by 13.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 83,793 shares of the company’s stock after purchasing an additional 9,946 shares during the quarter. Nordea Investment Management AB’s holdings in Tenet Healthcare were worth $10,577,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in THC. Plato Investment Management Ltd purchased a new position in Tenet Healthcare in the third quarter valued at about $28,000. ORG Wealth Partners LLC bought a new position in Tenet Healthcare during the third quarter valued at $30,000. Kayne Anderson Rudnick Investment Management LLC bought a new stake in shares of Tenet Healthcare in the second quarter valued at $34,000. Financial Management Professionals Inc. increased its holdings in Tenet Healthcare by 2,222.2% in the 3rd quarter. Financial Management Professionals Inc. now owns 209 shares of the company’s stock worth $35,000 after acquiring an additional 200 shares during the last quarter. Finally, True Wealth Design LLC bought a new stake in Tenet Healthcare in the 3rd quarter valued at about $38,000. 95.44% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Tenet Healthcare

In other Tenet Healthcare news, EVP Lisa Y. Foo sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $155.94, for a total value of $623,760.00. Following the completion of the sale, the executive vice president now owns 15,566 shares in the company, valued at approximately $2,427,362.04. The trade was a 20.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.93% of the company’s stock.

Tenet Healthcare Price Performance

THC opened at $130.08 on Thursday. The stock has a market capitalization of $12.37 billion, a P/E ratio of 4.17, a PEG ratio of 0.61 and a beta of 2.06. 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 $78.00 and a 12-month high of $171.20. The stock has a 50-day moving average price of $142.23 and a 200-day moving average price of $148.29.

Tenet Healthcare (NYSE:THC) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $2.93 EPS for the quarter, beating analysts’ consensus estimates of $2.33 by $0.60. Tenet Healthcare had a net margin of 14.91% and a return on equity of 24.05%. The business had revenue of $5.12 billion for the quarter, compared to analysts’ expectations of $5.05 billion. During the same period last year, the business earned $1.44 earnings per share. The business’s quarterly revenue was up 1.1% on a year-over-year basis. Equities analysts predict that Tenet Healthcare Co. will post 11.38 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on THC. StockNews.com lowered shares of Tenet Healthcare from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, December 17th. Cantor Fitzgerald increased their target price on Tenet Healthcare from $168.00 to $177.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Barclays lifted their price target on Tenet Healthcare from $171.00 to $190.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. KeyCorp reduced their target price on Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating for the company in a report on Tuesday. Finally, Truist Financial cut their price objective on shares of Tenet Healthcare from $190.00 to $175.00 and set a “buy” rating for the company in a research report on Monday. Three analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $165.00.

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.