Quinn Opportunity Partners LLC bought a new stake in shares of Tenet Healthcare Co. (NYSE:THC – Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 8,000 shares of the company’s stock, valued at approximately $475,000.
A number of other large investors have also recently modified their holdings of the stock. Fifth Third Bancorp boosted its stake in shares of Tenet Healthcare by 33.9% during the 1st quarter. Fifth Third Bancorp now owns 624 shares of the company’s stock valued at $37,000 after purchasing an additional 158 shares in the last quarter. US Bancorp DE lifted its position in Tenet Healthcare by 14.6% during the 1st quarter. US Bancorp DE now owns 1,428 shares of the company’s stock valued at $123,000 after acquiring an additional 182 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in Tenet Healthcare by 46.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 629 shares of the company’s stock valued at $31,000 after acquiring an additional 199 shares during the period. Thrivent Financial for Lutherans lifted its position in Tenet Healthcare by 0.9% during the 4th quarter. Thrivent Financial for Lutherans now owns 28,800 shares of the company’s stock valued at $1,405,000 after acquiring an additional 245 shares during the period. Finally, Envestnet Asset Management Inc. lifted its position in Tenet Healthcare by 1.5% during the 4th quarter. Envestnet Asset Management Inc. now owns 17,262 shares of the company’s stock valued at $842,000 after acquiring an additional 252 shares during the period. Institutional investors own 93.56% of the company’s stock.
Analyst Upgrades and Downgrades
THC has been the subject of a number of recent research reports. Truist Financial lifted their price target on shares of Tenet Healthcare from $84.00 to $92.00 in a research report on Tuesday, June 20th. Mizuho lifted their target price on shares of Tenet Healthcare from $81.00 to $94.00 in a report on Tuesday, July 11th. The Goldman Sachs Group lifted their target price on shares of Tenet Healthcare from $89.00 to $98.00 and gave the stock a “buy” rating in a report on Monday, August 14th. Credit Suisse Group lifted their target price on shares of Tenet Healthcare from $92.00 to $98.00 and gave the stock an “outperform” rating in a report on Wednesday, August 2nd. Finally, Citigroup lifted their target price on shares of Tenet Healthcare from $83.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, August 1st. One research analyst has 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 data from MarketBeat.com, Tenet Healthcare presently has an average rating of “Buy” and an average price target of $82.94.
Read Our Latest Analysis on Tenet Healthcare
Tenet Healthcare Stock Performance
Shares of NYSE THC opened at $74.73 on Friday. The firm has a market capitalization of $7.59 billion, a price-to-earnings ratio of 16.42, a price-to-earnings-growth ratio of 1.96 and a beta of 2.13. Tenet Healthcare Co. has a 12-month low of $36.69 and a 12-month high of $85.40. The firm has a 50 day moving average of $76.69 and a 200 day moving average of $70.29. The company has a current ratio of 1.44, a quick ratio of 1.35 and a debt-to-equity ratio of 5.47.
Tenet Healthcare (NYSE:THC – Get Free Report) last posted its quarterly earnings results on Monday, July 31st. The company reported $1.44 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.18. The business had revenue of $5.08 billion during 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%. The company’s revenue was up 9.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.50 earnings per share. On average, research analysts anticipate that Tenet Healthcare Co. will post 5.73 earnings per share 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.
See Also
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