Sei Investments Co. Boosts Stock Holdings in Tenet Healthcare Co. (NYSE:THC)

Sei Investments Co. grew its holdings in shares of Tenet Healthcare Co. (NYSE:THC) by 8.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 243,425 shares of the company’s stock after purchasing an additional 18,077 shares during the period. Sei Investments Co.’s holdings in Tenet Healthcare were worth $30,726,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of THC. Coldstream Capital Management Inc. raised its position in Tenet Healthcare by 2.2% in the third quarter. Coldstream Capital Management Inc. now owns 3,406 shares of the company’s stock worth $566,000 after acquiring an additional 74 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Tenet Healthcare by 9.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 940 shares of the company’s stock valued at $119,000 after purchasing an additional 80 shares in the last quarter. Spire Wealth Management lifted its stake in shares of Tenet Healthcare by 19.5% in the fourth quarter. Spire Wealth Management now owns 558 shares of the company’s stock valued at $70,000 after purchasing an additional 91 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in Tenet Healthcare by 1.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 8,109 shares of the company’s stock worth $1,024,000 after buying an additional 100 shares during the period. Finally, Smartleaf Asset Management LLC lifted its position in shares of Tenet Healthcare by 30.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 471 shares of the company’s stock valued at $59,000 after acquiring an additional 110 shares during the period. 95.44% of the stock is owned by institutional investors and hedge funds.

Tenet Healthcare Trading Up 1.0 %

Shares of THC stock opened at $130.80 on Wednesday. Tenet Healthcare Co. has a 1-year low of $90.03 and a 1-year high of $171.20. The firm’s 50-day simple moving average is $132.29 and its 200-day simple moving average is $142.77. The firm has a market cap of $12.44 billion, a P/E ratio of 4.06, a PEG ratio of 1.02 and a beta of 2.06. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.78 and a quick ratio of 1.70.

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 the consensus estimate of $2.95 by $0.49. Tenet Healthcare had a net margin of 15.48% and a return on equity of 21.88%. As a group, equities analysts forecast that Tenet Healthcare Co. will post 12.24 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently weighed in on THC. KeyCorp dropped their price objective on Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. TD Cowen began coverage on Tenet Healthcare in a research note on Wednesday, February 26th. They set a “buy” rating and a $175.00 price target for the company. StockNews.com upgraded shares of Tenet Healthcare from a “hold” rating to a “buy” rating in a report on Thursday, March 13th. Truist Financial lowered their price target on shares of Tenet Healthcare from $190.00 to $175.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Finally, The Goldman Sachs Group downgraded Tenet Healthcare from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $196.00 to $140.00 in a research report on Monday, December 16th. Three research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $163.88.

Insider Activity

In other Tenet Healthcare news, Director J Robert Kerrey sold 9,525 shares of Tenet Healthcare stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $125.43, for a total transaction of $1,194,720.75. Following the transaction, the director now directly owns 27,378 shares of the company’s stock, valued at $3,434,022.54. The trade was a 25.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.93% of the company’s stock.

About Tenet Healthcare

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.