Asset Management One Co. Ltd. Raises Stake in Tenet Healthcare Co. (NYSE:THC)

Asset Management One Co. Ltd. raised its holdings in shares of Tenet Healthcare Co. (NYSE:THC) by 541.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,478 shares of the company’s stock after purchasing an additional 8,000 shares during the period. Asset Management One Co. Ltd.’s holdings in Tenet Healthcare were worth $1,213,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Plato Investment Management Ltd purchased a new stake in shares of Tenet Healthcare in the 3rd quarter worth approximately $28,000. Financial Management Professionals Inc. grew 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 worth $35,000 after buying an additional 200 shares during the last quarter. True Wealth Design LLC purchased a new stake in shares of Tenet Healthcare in the 3rd quarter worth approximately $38,000. Wilmington Savings Fund Society FSB grew its stake in shares of Tenet Healthcare by 1,352.8% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 523 shares of the company’s stock worth $66,000 after buying an additional 487 shares during the last quarter. Finally, Spire Wealth Management grew its stake in shares of Tenet Healthcare by 19.5% in the 4th quarter. Spire Wealth Management now owns 558 shares of the company’s stock worth $70,000 after buying an additional 91 shares during the last quarter. 95.44% of the stock is currently owned by hedge funds and other institutional investors.

Tenet Healthcare Price Performance

Shares of Tenet Healthcare stock opened at $137.44 on Friday. Tenet Healthcare Co. has a one year low of $88.98 and a one year high of $171.20. The stock’s fifty day moving average is $133.04 and its 200 day moving average is $147.79. The stock has a market cap of $13.07 billion, a P/E ratio of 4.26, a P/E/G ratio of 1.00 and a beta of 2.05. The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.70 and a current ratio of 1.78.

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

Analyst Upgrades and Downgrades

Several research firms recently weighed in on THC. KeyCorp cut their price target on Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $175.00 target price on shares of Tenet Healthcare in a research note on Tuesday, December 17th. Royal Bank of Canada increased their target price on Tenet Healthcare from $174.00 to $183.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. UBS Group increased their target price on Tenet Healthcare from $197.00 to $217.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, Wells Fargo & Company downgraded Tenet Healthcare from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $205.00 to $150.00 in a research note on Monday, November 25th. Four analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Tenet Healthcare has a consensus rating of “Moderate Buy” and a consensus target price of $163.19.

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.