Xponance Inc. Buys 497 Shares of Tenet Healthcare Co. (NYSE:THC)

Xponance Inc. raised its stake in shares of Tenet Healthcare Co. (NYSE:THC) by 4.8% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 10,929 shares of the company’s stock after acquiring an additional 497 shares during the period. Xponance Inc.’s holdings in Tenet Healthcare were worth $1,380,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of THC. FMR LLC lifted its stake in shares of Tenet Healthcare by 88.0% in the 3rd 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 lifted its stake in shares of Tenet Healthcare by 23.6% in the 3rd quarter. Geode Capital Management LLC now owns 2,044,667 shares of the company’s stock worth $339,893,000 after purchasing an additional 390,316 shares during the period. Allianz Asset Management GmbH lifted its stake in shares of Tenet Healthcare by 15.1% in the 4th quarter. Allianz Asset Management GmbH now owns 577,143 shares of the company’s stock worth $72,853,000 after purchasing an additional 75,688 shares during the period. Wealthfront Advisers LLC bought a new position in shares of Tenet Healthcare in the 4th quarter worth approximately $69,059,000. Finally, Victory Capital Management Inc. lifted its stake in shares of Tenet Healthcare by 68.9% in the 4th quarter. Victory Capital Management Inc. now owns 507,055 shares of the company’s stock worth $64,006,000 after purchasing an additional 206,907 shares during the period. Institutional investors own 95.44% of the company’s stock.

Insider Buying and Selling

In related news, Director J Robert Kerrey sold 9,525 shares of the firm’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $125.43, for a total value of $1,194,720.75. Following the completion of the sale, the director now directly owns 27,378 shares in the company, valued at $3,434,022.54. This trade represents a 25.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.93% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on THC. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $175.00 price objective on shares of Tenet Healthcare in a research note on Tuesday, December 17th. StockNews.com raised shares of Tenet Healthcare from a “hold” rating to a “buy” rating in a report on Thursday, March 13th. Truist Financial reduced their target price on shares of Tenet Healthcare from $190.00 to $175.00 and set a “buy” rating for the company in a report on Monday, January 6th. Wells Fargo & Company lowered shares of Tenet Healthcare from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $205.00 to $150.00 in a report on Monday, November 25th. Finally, TD Cowen assumed coverage on shares of Tenet Healthcare in a report on Wednesday, February 26th. They issued a “buy” rating and a $175.00 target price for the company. Three research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $163.88.

Tenet Healthcare Stock Down 2.7 %

NYSE THC opened at $122.87 on Friday. The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.70 and a current ratio of 1.78. The company has a market capitalization of $11.69 billion, a P/E ratio of 3.81, a P/E/G ratio of 1.02 and a beta of 2.06. Tenet Healthcare Co. has a one year low of $90.03 and a one year high of $171.20. The stock has a 50 day moving average price of $132.20 and a 200-day moving average price of $143.28.

Tenet Healthcare (NYSE:THC) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $3.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.95 by $0.49. Tenet Healthcare had a return on equity of 21.88% and a net margin of 15.48%. As a group, equities analysts predict that Tenet Healthcare Co. will post 12.24 EPS for the current fiscal year.

About Tenet Healthcare

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.