Principal Securities Inc. Cuts Position in Tenet Healthcare Co. (NYSE:THC)

Principal Securities Inc. lowered its stake in shares of Tenet Healthcare Co. (NYSE:THC) by 71.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,387 shares of the company’s stock after selling 3,540 shares during the quarter. Principal Securities Inc.’s holdings in Tenet Healthcare were worth $175,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. FMR LLC grew its position in shares of Tenet Healthcare by 88.0% in the 3rd quarter. FMR LLC now owns 7,700,693 shares of the company’s stock worth $1,279,855,000 after buying an additional 3,604,161 shares during the last quarter. Geode Capital Management LLC grew its holdings in Tenet Healthcare by 23.6% in the third quarter. Geode Capital Management LLC now owns 2,044,667 shares of the company’s stock worth $339,893,000 after purchasing an additional 390,316 shares during the last quarter. Iron Triangle Partners LP acquired a new position in shares of Tenet Healthcare during the third quarter worth $51,346,000. Point72 Asset Management L.P. boosted its position in shares of Tenet Healthcare by 32.0% in the 3rd quarter. Point72 Asset Management L.P. now owns 442,949 shares of the company’s stock worth $73,618,000 after purchasing an additional 107,290 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in Tenet Healthcare by 60.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 253,931 shares of the company’s stock worth $32,054,000 after buying an additional 96,106 shares during the last quarter. 95.44% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

THC has been the subject of several recent analyst reports. Raymond James downgraded Tenet Healthcare from a “strong-buy” rating to an “outperform” rating and set a $195.00 price target for the company. in a report on Friday, November 22nd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $177.00 target price on shares of Tenet Healthcare in a research note on Thursday, February 13th. Truist Financial decreased their price target on shares of Tenet Healthcare from $190.00 to $175.00 and set a “buy” rating for the company in a report on Monday, January 6th. StockNews.com lowered shares of Tenet Healthcare from a “buy” rating to a “hold” rating in a report on Thursday, February 13th. Finally, UBS Group raised their target price on Tenet Healthcare from $197.00 to $217.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $163.19.

Tenet Healthcare Price Performance

Shares of NYSE THC opened at $131.55 on Tuesday. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.78 and a quick ratio of 1.70. The firm’s 50 day simple moving average is $132.86 and its 200-day simple moving average is $147.58. Tenet Healthcare Co. has a 12 month low of $88.98 and a 12 month high of $171.20. The stock has a market capitalization of $12.51 billion, a price-to-earnings ratio of 4.08, a PEG ratio of 1.02 and a beta of 2.05.

Tenet Healthcare (NYSE:THC) last released its quarterly earnings data on Wednesday, February 12th. The company reported $3.44 earnings per share for the quarter, beating analysts’ consensus estimates of $2.95 by $0.49. Tenet Healthcare had a net margin of 15.48% and a return on equity of 21.88%. Analysts expect that Tenet Healthcare Co. will post 12.24 EPS for the current year.

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.