Tenet Healthcare Co. (NYSE:THC) Shares Acquired by Treasurer of the State of North Carolina

Treasurer of the State of North Carolina boosted its stake in Tenet Healthcare Co. (NYSE:THC) by 2.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 58,019 shares of the company’s stock after buying an additional 1,345 shares during the quarter. Treasurer of the State of North Carolina’s holdings in Tenet Healthcare were worth $7,324,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of THC. Norges Bank acquired a new stake in shares of Tenet Healthcare during the fourth quarter valued at $190,819,000. Wealthfront Advisers LLC acquired a new stake in shares of Tenet Healthcare during the 4th quarter worth about $69,059,000. Raymond James Financial Inc. acquired a new position in shares of Tenet Healthcare in the fourth quarter valued at approximately $49,001,000. Renaissance Technologies LLC lifted its stake in shares of Tenet Healthcare by 579.2% during the fourth quarter. Renaissance Technologies LLC now owns 438,563 shares of the company’s stock valued at $55,360,000 after buying an additional 373,988 shares during the period. Finally, Victory Capital Management Inc. grew its stake in Tenet Healthcare by 68.9% in the 4th quarter. Victory Capital Management Inc. now owns 507,055 shares of the company’s stock worth $64,006,000 after acquiring an additional 206,907 shares during the period. Hedge funds and other institutional investors own 95.44% of the company’s stock.

Analyst Upgrades and Downgrades

THC has been the topic of several analyst reports. StockNews.com upgraded Tenet Healthcare from a “hold” rating to a “buy” rating in a report on Thursday, March 13th. Barclays lowered their price target on Tenet Healthcare from $190.00 to $161.00 and set an “overweight” rating for the company in a report on Thursday, February 13th. KeyCorp cut their price objective on shares of Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Truist Financial dropped their price target on shares of Tenet Healthcare from $190.00 to $175.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Finally, TD Cowen began coverage on shares of Tenet Healthcare in a research note on Wednesday, February 26th. They set a “buy” rating and a $175.00 price objective for the company. Three research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Tenet Healthcare has an average rating of “Moderate Buy” and an average target price of $166.33.

Insiders Place Their Bets

In related news, Director J Robert Kerrey sold 9,525 shares of Tenet Healthcare stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $125.43, for a total value of $1,194,720.75. Following the completion of the sale, the director now owns 27,378 shares in the company, valued at approximately $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 Securities & Exchange Commission, which is accessible through this link. 0.93% of the stock is owned by company insiders.

Tenet Healthcare Trading Down 3.0 %

NYSE THC opened at $123.70 on Monday. The company’s fifty day simple moving average is $129.77 and its 200-day simple moving average is $139.42. The stock has a market cap of $11.77 billion, a P/E ratio of 3.84, a PEG ratio of 1.02 and a beta of 1.77. Tenet Healthcare Co. has a 52 week low of $90.03 and a 52 week high of $171.20. The company has a current ratio of 1.78, a quick ratio of 1.70 and a debt-to-equity ratio of 2.25.

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

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.