Huber Capital Management LLC reduced its position in Tenet Healthcare Co. (NYSE:THC – Free Report) by 8.7% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 20,901 shares of the company’s stock after selling 2,000 shares during the period. Huber Capital Management LLC’s holdings in Tenet Healthcare were worth $1,242,000 at the end of the most recent quarter.
A number of other hedge funds also recently added to or reduced their stakes in the stock. BlackRock Inc. grew its stake in shares of Tenet Healthcare by 14.7% in the 1st quarter. BlackRock Inc. now owns 11,639,373 shares of the company’s stock valued at $691,612,000 after purchasing an additional 1,491,799 shares during the last quarter. Vanguard Group Inc. raised its position in Tenet Healthcare by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 10,932,708 shares of the company’s stock worth $939,775,000 after buying an additional 77,543 shares during the last quarter. Glenview Capital Management LLC raised its position in Tenet Healthcare by 9.8% during the 4th quarter. Glenview Capital Management LLC now owns 8,896,111 shares of the company’s stock worth $434,041,000 after buying an additional 796,463 shares during the last quarter. State Street Corp raised its position in Tenet Healthcare by 2.4% during the 1st quarter. State Street Corp now owns 3,377,944 shares of the company’s stock worth $290,368,000 after buying an additional 78,687 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its position in Tenet Healthcare by 23.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,180,627 shares of the company’s stock worth $187,446,000 after buying an additional 415,945 shares during the last quarter. 93.56% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of equities analysts have commented on the stock. Royal Bank of Canada upped their price objective on shares of Tenet Healthcare from $84.00 to $87.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 1st. Truist Financial increased their price target on shares of Tenet Healthcare from $84.00 to $92.00 in a report on Tuesday, June 20th. Raymond James increased their price target on shares of Tenet Healthcare from $85.00 to $95.00 and gave the company a “strong-buy” rating in a report on Wednesday, August 2nd. StockNews.com started coverage on shares of Tenet Healthcare in a report on Thursday, August 17th. They issued a “buy” rating for the company. Finally, Stephens increased their price objective on shares of Tenet Healthcare from $87.00 to $89.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 1st. One analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Tenet Healthcare presently has a consensus rating of “Buy” and a consensus price target of $82.94.
Get Our Latest Stock Analysis on Tenet Healthcare
Tenet Healthcare Trading Up 2.4 %
NYSE THC traded up $1.73 during mid-day trading on Friday, hitting $75.11. The company’s stock had a trading volume of 385,616 shares, compared to its average volume of 1,422,277. Tenet Healthcare Co. has a 52-week low of $36.69 and a 52-week high of $85.40. The stock’s fifty day simple moving average is $76.82 and its two-hundred day simple moving average is $70.12. The company has a debt-to-equity ratio of 5.47, a current ratio of 1.44 and a quick ratio of 1.35. The firm has a market capitalization of $7.63 billion, a P/E ratio of 16.59, a price-to-earnings-growth ratio of 2.07 and a beta of 2.13.
Tenet Healthcare (NYSE:THC – Get Free Report) last posted its quarterly earnings results on Monday, July 31st. The company reported $1.44 EPS for the quarter, beating the consensus estimate of $1.26 by $0.18. The firm had revenue of $5.08 billion for the quarter, compared to analyst estimates of $4.91 billion. Tenet Healthcare had a net margin of 2.51% and a return on equity of 26.60%. Tenet Healthcare’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.50 earnings per share. Research analysts expect that Tenet Healthcare Co. will post 5.73 EPS for the current year.
About Tenet Healthcare
(Free Report)Tenet Healthcare Corporation operates as a diversified healthcare services company. The company operates through three segments: Hospital Operations, Ambulatory Care, and Conifer. Its general hospitals offer acute care services, operating and recovery rooms, radiology and respiratory therapy services, clinical laboratories, and pharmacies.
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