National Bank of Canada FI Has $12.68 Million Holdings in Tenet Healthcare Co. (NYSE:THC)

National Bank of Canada FI trimmed its position in shares of Tenet Healthcare Co. (NYSE:THC) by 3.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 100,441 shares of the company’s stock after selling 3,590 shares during the period. National Bank of Canada FI’s holdings in Tenet Healthcare were worth $12,679,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Tenet Healthcare in the 4th quarter valued at about $190,819,000. Wealthfront Advisers LLC bought a new position in shares of Tenet Healthcare during the 4th quarter worth approximately $69,059,000. Geode Capital Management LLC raised its stake in Tenet Healthcare by 23.6% in the 3rd quarter. Geode Capital Management LLC now owns 2,044,667 shares of the company’s stock valued at $339,893,000 after acquiring an additional 390,316 shares during the period. Raymond James Financial Inc. bought a new position in Tenet Healthcare during the fourth quarter worth $49,001,000. Finally, Victory Capital Management Inc. raised its position in shares of Tenet Healthcare by 68.9% in the fourth quarter. Victory Capital Management Inc. now owns 507,055 shares of the company’s stock valued at $64,006,000 after purchasing an additional 206,907 shares during the period. Institutional investors and hedge funds own 95.44% of the company’s stock.

Wall Street Analysts Forecast Growth

THC has been the topic of a number of research reports. Truist Financial decreased 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 note on Monday, January 6th. 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. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $177.00 price objective on shares of Tenet Healthcare in a report on Thursday, February 13th. KeyCorp reduced their target price on shares of Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Finally, Morgan Stanley started coverage on shares of Tenet Healthcare in a research note on Wednesday, March 26th. They issued an “overweight” rating and a $165.00 price objective for the company. Three investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $166.41.

Insider Activity

In other Tenet Healthcare news, Director J Robert Kerrey sold 9,525 shares of the stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $125.43, for a total value of $1,194,720.75. Following the completion of the transaction, the director now directly owns 27,378 shares in the company, valued at approximately $3,434,022.54. This trade represents a 25.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.93% of the stock is owned by corporate insiders.

Tenet Healthcare Price Performance

Shares of THC stock opened at $120.23 on Friday. Tenet Healthcare Co. has a twelve month low of $90.03 and a twelve month high of $171.20. The company has a quick ratio of 1.70, a current ratio of 1.78 and a debt-to-equity ratio of 2.25. The business has a fifty day simple moving average of $132.13 and a 200 day simple moving average of $141.54. The company has a market cap of $11.44 billion, a P/E ratio of 3.73, a P/E/G ratio of 1.02 and a beta of 1.77.

Tenet Healthcare (NYSE:THC) last announced its quarterly earnings results 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%. On average, sell-side analysts forecast that Tenet Healthcare Co. will post 12.24 EPS for the current fiscal year.

Tenet Healthcare 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.