Denali Advisors LLC Buys 7,929 Shares of Tenet Healthcare Co. (NYSE:THC)

Denali Advisors LLC boosted its stake in Tenet Healthcare Co. (NYSE:THC) by 31.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 33,515 shares of the company’s stock after buying an additional 7,929 shares during the period. Denali Advisors LLC’s holdings in Tenet Healthcare were worth $4,231,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of THC. FMR LLC increased its stake in shares of Tenet Healthcare by 88.0% during the third quarter. FMR LLC now owns 7,700,693 shares of the company’s stock worth $1,279,855,000 after purchasing an additional 3,604,161 shares during the period. Geode Capital Management LLC increased its position in Tenet Healthcare by 23.6% during the 3rd quarter. Geode Capital Management LLC now owns 2,044,667 shares of the company’s stock worth $339,893,000 after buying an additional 390,316 shares during the period. Allianz Asset Management GmbH lifted its holdings in shares of Tenet Healthcare by 15.1% during the fourth quarter. Allianz Asset Management GmbH now owns 577,143 shares of the company’s stock worth $72,853,000 after buying an additional 75,688 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of Tenet Healthcare by 11.9% in the third quarter. Franklin Resources Inc. now owns 457,704 shares of the company’s stock valued at $71,077,000 after acquiring an additional 48,580 shares in the last quarter. Finally, Point72 Asset Management L.P. grew its position in shares of Tenet Healthcare by 32.0% during the 3rd quarter. Point72 Asset Management L.P. now owns 442,949 shares of the company’s stock worth $73,618,000 after purchasing an additional 107,290 shares in the last quarter. 95.44% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently commented on THC shares. KeyCorp dropped their price target on Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Truist Financial lowered their price objective 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. Barclays decreased their price target on Tenet Healthcare from $190.00 to $161.00 and set an “overweight” rating on the stock in a research note on Thursday, February 13th. StockNews.com raised Tenet Healthcare from a “hold” rating to a “buy” rating in a research note on Tuesday. Finally, UBS Group boosted their target price on Tenet Healthcare from $197.00 to $217.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Three analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $163.19.

Tenet Healthcare Price Performance

Shares of NYSE:THC opened at $134.82 on Wednesday. The firm has a market cap of $12.82 billion, a PE ratio of 4.18, a price-to-earnings-growth ratio of 1.02 and a beta of 2.05. Tenet Healthcare Co. has a 52 week low of $88.98 and a 52 week high of $171.20. The firm’s fifty day moving average is $132.90 and its 200-day moving average is $147.47. 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 (NYSE:THC) last issued its quarterly 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%. Sell-side analysts predict that Tenet Healthcare Co. will post 12.24 earnings per share for the current year.

Tenet Healthcare 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.