Tenet Healthcare Co. (NYSE:THC) Stake Raised by Victory Capital Management Inc.

Victory Capital Management Inc. boosted its holdings in Tenet Healthcare Co. (NYSE:THC) by 68.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 507,055 shares of the company’s stock after acquiring an additional 206,907 shares during the quarter. Victory Capital Management Inc. owned about 0.53% of Tenet Healthcare worth $64,006,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Plato Investment Management Ltd acquired a new stake in Tenet Healthcare during the 3rd quarter worth about $28,000. True Wealth Design LLC acquired a new stake in Tenet Healthcare during the 3rd quarter worth about $38,000. WR Wealth Planners LLC raised its holdings in Tenet Healthcare by 2,836.4% during the 4th quarter. WR Wealth Planners LLC now owns 323 shares of the company’s stock worth $41,000 after buying an additional 312 shares during the period. Smartleaf Asset Management LLC raised its holdings in Tenet Healthcare by 30.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 471 shares of the company’s stock worth $59,000 after buying an additional 110 shares during the period. Finally, Kestra Investment Management LLC acquired a new stake in Tenet Healthcare during the 4th quarter worth about $60,000. 95.44% of the stock is currently owned by institutional investors.

Tenet Healthcare Stock Up 1.8 %

Shares of THC stock opened at $127.64 on Friday. Tenet Healthcare Co. has a 12 month low of $90.03 and a 12 month high of $171.20. The firm has a market cap of $12.14 billion, a PE ratio of 3.96, a price-to-earnings-growth ratio of 1.02 and a beta of 2.06. The stock has a 50 day moving average of $132.67 and a 200-day moving average of $146.24. The company has a quick ratio of 1.70, a current ratio of 1.78 and a debt-to-equity ratio of 2.25.

Tenet Healthcare (NYSE:THC) last issued its quarterly 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%. On average, equities analysts predict that Tenet Healthcare Co. will post 12.24 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on THC. Wells Fargo & Company downgraded Tenet Healthcare from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $205.00 to $150.00 in a report on Monday, November 25th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $175.00 target price on shares of Tenet Healthcare in a research note on Tuesday, December 17th. Barclays lowered their target price on Tenet Healthcare from $190.00 to $161.00 and set an “overweight” rating on the stock in a research note on Thursday, February 13th. Raymond James cut Tenet Healthcare from a “strong-buy” rating to an “outperform” rating and set a $195.00 target price on the stock. in a research note on Friday, November 22nd. Finally, Truist Financial lowered their target price on Tenet Healthcare from $190.00 to $175.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Four equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $163.88.

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.