Tenet Healthcare Co. (NYSE:THC) Shares Acquired by Blue Trust Inc.

Blue Trust Inc. increased its stake in shares of Tenet Healthcare Co. (NYSE:THC) by 172.3% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 689 shares of the company’s stock after buying an additional 436 shares during the quarter. Blue Trust Inc.’s holdings in Tenet Healthcare were worth $87,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of THC. Plato Investment Management Ltd acquired a new stake in Tenet Healthcare during the third quarter worth about $28,000. ORG Wealth Partners LLC acquired a new stake in shares of Tenet Healthcare during the 3rd quarter worth approximately $30,000. Financial Management Professionals Inc. increased its stake in shares of Tenet Healthcare by 2,222.2% in the 3rd quarter. Financial Management Professionals Inc. now owns 209 shares of the company’s stock valued at $35,000 after purchasing an additional 200 shares in the last quarter. True Wealth Design LLC purchased a new position in Tenet Healthcare during the third quarter worth approximately $38,000. Finally, Hantz Financial Services Inc. purchased a new stake in shares of Tenet Healthcare in the third quarter valued at approximately $83,000. Institutional investors and hedge funds own 95.44% of the company’s stock.

Tenet Healthcare Price Performance

THC opened at $140.63 on Friday. The company has a current ratio of 1.58, a quick ratio of 1.52 and a debt-to-equity ratio of 2.35. The firm has a market cap of $13.37 billion, a price-to-earnings ratio of 4.51, a PEG ratio of 0.63 and a beta of 2.05. The stock’s 50-day moving average price is $133.96 and its 200 day moving average price is $148.59. Tenet Healthcare Co. has a 12-month low of $86.70 and a 12-month high of $171.20.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on THC. 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 lowered their price target 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, January 6th. Wells Fargo & Company lowered shares of Tenet Healthcare from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $205.00 to $150.00 in a research note on Monday, November 25th. KeyCorp cut their price target on Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Finally, UBS Group upped their target price on Tenet Healthcare from $197.00 to $217.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Three research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Tenet Healthcare presently has a consensus rating of “Moderate Buy” and an average 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.