Blue Trust Inc. Raises Position in Tenet Healthcare Co. (NYSE:THC)

Blue Trust Inc. grew its stake in shares of Tenet Healthcare Co. (NYSE:THC) by 172.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund 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 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in THC. Vista Investment Partners LLC grew its position in shares of Tenet Healthcare by 1.7% in the 4th quarter. Vista Investment Partners LLC now owns 24,843 shares of the company’s stock worth $3,136,000 after buying an additional 413 shares during the last quarter. First Citizens Bank & Trust Co. boosted its position in shares of Tenet Healthcare by 17.4% during the fourth quarter. First Citizens Bank & Trust Co. now owns 2,613 shares of the company’s stock valued at $330,000 after purchasing an additional 387 shares in the last quarter. Flagship Harbor Advisors LLC grew its holdings in Tenet Healthcare by 20.8% in the fourth quarter. Flagship Harbor Advisors LLC now owns 1,655 shares of the company’s stock worth $209,000 after purchasing an additional 285 shares during the period. Impact Partnership Wealth LLC bought a new stake in Tenet Healthcare in the fourth quarter worth $338,000. Finally, Inspire Investing LLC raised its holdings in Tenet Healthcare by 25.6% in the fourth quarter. Inspire Investing LLC now owns 6,496 shares of the company’s stock worth $820,000 after buying an additional 1,326 shares during the last quarter. Hedge funds and other institutional investors own 95.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on THC shares. Cantor Fitzgerald upped their target price on shares of Tenet Healthcare from $168.00 to $177.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Truist Financial dropped 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 downgraded shares of Tenet Healthcare from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, December 17th. Royal Bank of Canada lifted their price objective on Tenet Healthcare from $174.00 to $183.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Finally, The Goldman Sachs Group lowered Tenet Healthcare from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $196.00 to $140.00 in a research note on Monday, December 16th. Three equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $165.00.

Tenet Healthcare Trading Up 0.6 %

THC opened at $140.63 on Friday. The stock has a 50-day moving average of $133.96 and a 200 day moving average of $148.59. Tenet Healthcare Co. has a 12 month low of $86.70 and a 12 month high of $171.20. The firm has a market cap of $13.37 billion, a P/E ratio of 4.51, a P/E/G ratio of 0.63 and a beta of 2.05. 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 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.