Tenet Healthcare Co. (NYSE:THC) Holdings Raised by LPL Financial LLC

LPL Financial LLC lifted its stake in Tenet Healthcare Co. (NYSE:THC) by 40.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 67,136 shares of the company’s stock after acquiring an additional 19,389 shares during the quarter. LPL Financial LLC owned approximately 0.07% of Tenet Healthcare worth $8,475,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Captrust Financial Advisors lifted its holdings in shares of Tenet Healthcare by 80.7% during the 3rd quarter. Captrust Financial Advisors now owns 2,747 shares of the company’s stock valued at $456,000 after buying an additional 1,227 shares during the last quarter. HighTower Advisors LLC lifted its stake in Tenet Healthcare by 12.1% in the third quarter. HighTower Advisors LLC now owns 7,036 shares of the company’s stock valued at $1,161,000 after acquiring an additional 758 shares during the last quarter. Janus Henderson Group PLC grew its position in Tenet Healthcare by 7.6% in the third quarter. Janus Henderson Group PLC now owns 44,102 shares of the company’s stock worth $7,329,000 after acquiring an additional 3,100 shares in the last quarter. Quantinno Capital Management LP raised its holdings in shares of Tenet Healthcare by 40.6% during the 3rd quarter. Quantinno Capital Management LP now owns 40,672 shares of the company’s stock valued at $6,760,000 after purchasing an additional 11,749 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC acquired a new stake in shares of Tenet Healthcare in the 3rd quarter valued at $1,821,000. Institutional investors and hedge funds own 95.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. KeyCorp cut their target price on Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Morgan Stanley initiated coverage on Tenet Healthcare in a report on Wednesday, March 26th. They issued an “overweight” rating and a $165.00 target price for the company. Barclays dropped their price target on shares of Tenet Healthcare from $190.00 to $161.00 and set an “overweight” rating on the stock in a research report on Thursday, February 13th. Truist Financial lowered their target price on shares of Tenet Healthcare from $190.00 to $175.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Finally, StockNews.com raised shares of Tenet Healthcare from a “hold” rating to a “buy” rating in a research report on Thursday, March 13th. Three research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $166.41.

Insider Buying and Selling at Tenet Healthcare

In related news, Director J Robert Kerrey sold 9,525 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $125.43, for a total transaction of $1,194,720.75. Following the completion of the transaction, the director now owns 27,378 shares in the company, valued at $3,434,022.54. This trade represents a 25.81 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.93% of the company’s stock.

Tenet Healthcare Price Performance

Shares of NYSE:THC opened at $120.23 on Friday. The business’s 50 day moving average is $132.13 and its 200-day moving average is $141.43. The company has a current ratio of 1.78, a quick ratio of 1.70 and a debt-to-equity ratio of 2.25. The firm has a market capitalization of $11.44 billion, a PE ratio of 3.73, a PEG ratio of 1.02 and a beta of 1.77. Tenet Healthcare Co. has a 1-year low of $90.03 and a 1-year high of $171.20.

Tenet Healthcare (NYSE:THC) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $3.44 earnings per share (EPS) 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%. Sell-side analysts predict that Tenet Healthcare Co. will post 12.24 earnings per share for the current year.

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.