Allianz Asset Management GmbH Purchases 75,688 Shares of Tenet Healthcare Co. (NYSE:THC)

Allianz Asset Management GmbH boosted its position in shares of Tenet Healthcare Co. (NYSE:THC) by 15.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 577,143 shares of the company’s stock after acquiring an additional 75,688 shares during the period. Allianz Asset Management GmbH owned 0.61% of Tenet Healthcare worth $72,853,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in the business. Plato Investment Management Ltd acquired a new position in Tenet Healthcare during the 3rd quarter valued at about $28,000. Financial Management Professionals Inc. increased its holdings in shares of Tenet Healthcare by 2,222.2% during the third quarter. Financial Management Professionals Inc. now owns 209 shares of the company’s stock valued at $35,000 after acquiring an additional 200 shares in the last quarter. True Wealth Design LLC purchased a new position in shares of Tenet Healthcare in the 3rd quarter valued at approximately $38,000. Kestra Investment Management LLC purchased a new stake in Tenet Healthcare during the 4th quarter worth approximately $60,000. Finally, Hantz Financial Services Inc. acquired a new position in Tenet Healthcare during the 3rd quarter valued at approximately $83,000. 95.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

THC has been the topic of a number of research analyst reports. The Goldman Sachs Group lowered shares of Tenet Healthcare from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $196.00 to $140.00 in a report on Monday, December 16th. Royal Bank of Canada increased their price objective on Tenet Healthcare from $174.00 to $183.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Barclays decreased their target price on Tenet Healthcare from $190.00 to $161.00 and set an “overweight” rating for the company in a report on Thursday, February 13th. Truist Financial reduced 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, Wells Fargo & Company downgraded shares of Tenet Healthcare from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $205.00 to $150.00 in a report on Monday, November 25th. Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $163.19.

Tenet Healthcare Stock Performance

NYSE THC opened at $129.57 on Friday. 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 Co. has a twelve month low of $88.98 and a twelve month high of $171.20. The stock has a 50-day moving average of $132.90 and a 200 day moving average of $147.69. The stock has a market capitalization of $12.32 billion, a price-to-earnings ratio of 4.02, a PEG ratio of 1.01 and a beta of 2.05.

Tenet Healthcare (NYSE:THC) last released its quarterly earnings results on Wednesday, February 12th. The company reported $3.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.95 by $0.49. Tenet Healthcare had a net margin of 15.48% and a return on equity of 21.88%. Sell-side analysts anticipate 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.