Nisa Investment Advisors LLC Has $453,000 Stock Position in Tenet Healthcare Co. (NYSE:THC)

Nisa Investment Advisors LLC cut its position in Tenet Healthcare Co. (NYSE:THC) by 77.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,589 shares of the company’s stock after selling 12,501 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Tenet Healthcare were worth $453,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in THC. The Manufacturers Life Insurance Company raised its holdings in shares of Tenet Healthcare by 7.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 146,558 shares of the company’s stock valued at $19,497,000 after purchasing an additional 9,527 shares during the period. Susquehanna Fundamental Investments LLC bought a new stake in Tenet Healthcare in the second quarter valued at approximately $891,000. Creative Planning lifted its position in shares of Tenet Healthcare by 8.1% in the second quarter. Creative Planning now owns 15,638 shares of the company’s stock valued at $2,080,000 after buying an additional 1,170 shares during the last quarter. Quarry LP increased its holdings in shares of Tenet Healthcare by 37.3% during the 2nd quarter. Quarry LP now owns 626 shares of the company’s stock worth $83,000 after acquiring an additional 170 shares during the last quarter. Finally, Truist Financial Corp raised its stake in Tenet Healthcare by 155.2% in the 2nd quarter. Truist Financial Corp now owns 24,175 shares of the company’s stock valued at $3,216,000 after acquiring an additional 14,703 shares during the period. 95.44% of the stock is owned by institutional investors.

Insider Activity 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 stock was sold at an average price of $155.94, for a total value of $623,760.00. Following the completion of the transaction, the executive vice president now owns 15,566 shares of the company’s stock, valued at $2,427,362.04. This represents a 20.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.93% of the stock is currently owned by insiders.

Tenet Healthcare Stock Up 0.7 %

NYSE THC opened at $139.93 on Wednesday. Tenet Healthcare Co. has a fifty-two week low of $82.15 and a fifty-two week high of $171.20. The business has a fifty day moving average price of $134.38 and a two-hundred day moving average price of $148.30. The company has a debt-to-equity ratio of 2.35, a current ratio of 1.58 and a quick ratio of 1.52. The stock has a market capitalization of $13.31 billion, a PE ratio of 4.48, a PEG ratio of 0.60 and a beta of 2.06.

Tenet Healthcare (NYSE:THC) last released its earnings results on Tuesday, October 29th. The company reported $2.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.33 by $0.60. The firm had revenue of $5.12 billion for the quarter, compared to analysts’ expectations of $5.05 billion. Tenet Healthcare had a return on equity of 24.05% and a net margin of 14.91%. The business’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.44 earnings per share. Equities analysts expect that Tenet Healthcare Co. will post 11.37 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Truist Financial decreased their price objective on shares of Tenet Healthcare from $190.00 to $175.00 and set a “buy” rating on the stock in a report on Monday, January 6th. StockNews.com cut shares of Tenet Healthcare from a “strong-buy” rating to a “buy” rating in a report on Tuesday, December 17th. Royal Bank of Canada upped their target price on Tenet Healthcare from $174.00 to $183.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. reissued an “overweight” rating and set a $175.00 price target on shares of Tenet Healthcare in a report on Tuesday, December 17th. Finally, Cantor Fitzgerald increased their price objective on Tenet Healthcare from $168.00 to $177.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Three research 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, Tenet Healthcare currently has a consensus rating of “Moderate Buy” and an average target price of $165.00.

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.