Thornburg Investment Management Inc. Has $9.54 Million Stock Position in Tenet Healthcare Co. (NYSE:THC)

Thornburg Investment Management Inc. grew its stake in Tenet Healthcare Co. (NYSE:THC) by 44.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 75,569 shares of the company’s stock after acquiring an additional 23,391 shares during the period. Thornburg Investment Management Inc. owned 0.08% of Tenet Healthcare worth $9,539,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Geode Capital Management LLC boosted its position in Tenet Healthcare by 3.5% in the 4th quarter. Geode Capital Management LLC now owns 2,116,121 shares of the company’s stock valued at $268,591,000 after buying an additional 71,454 shares during the last quarter. Norges Bank acquired a new stake in Tenet Healthcare in the fourth quarter worth about $190,819,000. Dimensional Fund Advisors LP raised its holdings in Tenet Healthcare by 22.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,493,532 shares of the company’s stock worth $188,524,000 after purchasing an additional 272,906 shares during the last quarter. AQR Capital Management LLC lifted its position in Tenet Healthcare by 20.8% during the 4th quarter. AQR Capital Management LLC now owns 872,117 shares of the company’s stock valued at $110,087,000 after purchasing an additional 150,361 shares during the period. Finally, Northern Trust Corp grew its position in shares of Tenet Healthcare by 22.0% during the 4th quarter. Northern Trust Corp now owns 848,049 shares of the company’s stock worth $107,049,000 after buying an additional 152,671 shares during the period. 95.44% of the stock is owned by institutional investors.

Insider Activity

In other Tenet Healthcare news, EVP Paola M. Arbour sold 6,461 shares of the business’s stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $160.20, for a total transaction of $1,035,052.20. Following the completion of the sale, the executive vice president now owns 27,848 shares in the company, valued at approximately $4,461,249.60. The trade was a 18.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director J Robert Kerrey sold 9,525 shares of Tenet Healthcare stock in a transaction dated 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 owns 27,378 shares of the company’s stock, valued at $3,434,022.54. This represents a 25.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,987 shares of company stock worth $2,972,421 in the last three months. Company insiders own 0.81% of the company’s stock.

Wall Street Analysts Forecast Growth

THC has been the topic of a number of recent research reports. Barclays raised their price objective on shares of Tenet Healthcare from $161.00 to $171.00 and gave the company an “overweight” rating in a research note on Wednesday, April 30th. Truist Financial lifted their price objective on Tenet Healthcare from $175.00 to $190.00 and gave the stock a “buy” rating in a research note on Monday, May 12th. Cantor Fitzgerald restated an “overweight” rating and set a $177.00 target price on shares of Tenet Healthcare in a report on Thursday, February 13th. Bank of America increased their price target on shares of Tenet Healthcare from $165.00 to $180.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Morgan Stanley upped their target price on shares of Tenet Healthcare from $165.00 to $175.00 and gave the company an “overweight” rating in a research note on Monday, May 5th. Four analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, Tenet Healthcare currently has an average rating of “Moderate Buy” and an average price target of $174.94.

Tenet Healthcare Stock Up 0.9%

NYSE:THC opened at $165.55 on Friday. The company has a market cap of $15.38 billion, a PE ratio of 5.14, a PEG ratio of 1.02 and a beta of 1.63. The stock has a 50-day simple moving average of $132.78 and a 200 day simple moving average of $136.29. The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.70 and a current ratio of 1.78. Tenet Healthcare Co. has a 52-week low of $109.82 and a 52-week high of $171.20.

Tenet Healthcare (NYSE:THC) last posted its earnings results on Tuesday, April 29th. The company reported $4.36 EPS for the quarter, topping the consensus estimate of $3.11 by $1.25. The business had revenue of $5.22 billion for the quarter, compared to the consensus estimate of $5.15 billion. Tenet Healthcare had a net margin of 15.48% and a return on equity of 21.88%. The firm’s revenue was down 2.5% compared to the same quarter last year. During the same period last year, the company earned $3.22 EPS. On average, sell-side analysts expect that Tenet Healthcare Co. will post 12.24 EPS for the current fiscal year.

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.