First Horizon Advisors Inc. Boosts Holdings in Tenet Healthcare Co. (NYSE:THC)

First Horizon Advisors Inc. raised its holdings in Tenet Healthcare Co. (NYSE:THC) by 791.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 428 shares of the company’s stock after purchasing an additional 380 shares during the quarter. First Horizon Advisors Inc.’s holdings in Tenet Healthcare were worth $115,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in Tenet Healthcare by 0.4% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 35,576 shares of the company’s stock valued at $2,383,000 after purchasing an additional 148 shares during the last quarter. Profund Advisors LLC raised its position in shares of Tenet Healthcare by 1.6% during the 2nd quarter. Profund Advisors LLC now owns 10,439 shares of the company’s stock worth $701,000 after purchasing an additional 166 shares during the last quarter. CWM Advisors LLC raised its position in shares of Tenet Healthcare by 3.1% during the 2nd quarter. CWM Advisors LLC now owns 6,402 shares of the company’s stock worth $429,000 after purchasing an additional 194 shares during the last quarter. Hanseatic Management Services Inc. raised its position in shares of Tenet Healthcare by 23.7% during the 3rd quarter. Hanseatic Management Services Inc. now owns 1,500 shares of the company’s stock worth $100,000 after purchasing an additional 287 shares during the last quarter. Finally, Advisor Group Holdings Inc. raised its position in shares of Tenet Healthcare by 8.6% during the 3rd quarter. Advisor Group Holdings Inc. now owns 5,000 shares of the company’s stock worth $333,000 after purchasing an additional 398 shares during the last quarter. 93.38% of the stock is currently owned by institutional investors.

THC has been the subject of several research analyst reports. Citigroup upped their price target on shares of Tenet Healthcare from $88.00 to $91.00 and gave the stock a “buy” rating in a research report on Monday, October 25th. SVB Leerink increased their price objective on shares of Tenet Healthcare from $78.00 to $88.00 and gave the company a “market perform” rating in a report on Friday, January 7th. Barclays increased their price objective on shares of Tenet Healthcare from $81.00 to $87.00 and gave the company an “overweight” rating in a report on Tuesday, December 21st. Stephens increased their price objective on shares of Tenet Healthcare from $77.00 to $92.00 and gave the company an “equal weight” rating in a report on Tuesday, November 9th. Finally, Truist Securities increased their price objective on shares of Tenet Healthcare from $78.00 to $90.00 and gave the company a “hold” rating in a report on Wednesday, January 5th. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $84.71.

NYSE:THC opened at $81.04 on Friday. The company has a debt-to-equity ratio of 8.57, a quick ratio of 1.21 and a current ratio of 1.28. The stock has a market capitalization of $8.68 billion, a P/E ratio of 8.11, a PEG ratio of 8.16 and a beta of 2.56. The company has a 50 day moving average price of $77.30 and a 200 day moving average price of $72.49. Tenet Healthcare Co. has a fifty-two week low of $45.04 and a fifty-two week high of $83.69.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings data on Tuesday, October 19th. The company reported $1.99 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.09 by $0.90. Tenet Healthcare had a net margin of 5.52% and a return on equity of 58.52%. The firm had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $4.84 billion. During the same quarter last year, the company posted $0.64 EPS. The firm’s quarterly revenue was up 7.4% on a year-over-year basis. Research analysts forecast that Tenet Healthcare Co. will post 6.46 earnings per share for the current fiscal year.

In other Tenet Healthcare news, EVP Audrey T. Andrews sold 56,626 shares of Tenet Healthcare stock in a transaction on Friday, November 12th. The shares were sold at an average price of $78.46, for a total value of $4,442,875.96. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Chairman Ronald A. Rittenmeyer sold 5,799 shares of Tenet Healthcare stock in a transaction on Thursday, December 16th. The shares were sold at an average price of $77.86, for a total transaction of $451,510.14. The disclosure for this sale can be found here. Insiders sold a total of 139,564 shares of company stock worth $10,978,279 over the last 90 days. Company insiders own 1.60% of the company’s stock.

Tenet Healthcare Profile

Tenet Healthcare Corp. engages in the provision of health care services. It operates through the following segments: Hospital Operations and Other, Ambulatory Care, and Conifer. The Hospital Operations and Other segment comprises of acute care hospitals, ancillary outpatient facilities, urgent care centers, microhospitals and physician practices.

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Institutional Ownership by Quarter for Tenet Healthcare (NYSE:THC)

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