First Citizens Bank & Trust Co. Raises Stock Holdings in Tenet Healthcare Co. (NYSE:THC)

First Citizens Bank & Trust Co. increased its holdings in shares of Tenet Healthcare Co. (NYSE:THC) by 17.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,613 shares of the company’s stock after buying an additional 387 shares during the period. First Citizens Bank & Trust Co.’s holdings in Tenet Healthcare were worth $330,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company increased its stake in shares of Tenet Healthcare by 7.0% during the second quarter. The Manufacturers Life Insurance Company now owns 146,558 shares of the company’s stock worth $19,497,000 after purchasing an additional 9,527 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in shares of Tenet Healthcare during the second quarter valued at approximately $891,000. Creative Planning boosted its stake in shares of Tenet Healthcare by 8.1% in the second quarter. Creative Planning now owns 15,638 shares of the company’s stock worth $2,080,000 after acquiring an additional 1,170 shares during the last quarter. Quarry LP increased its position in shares of Tenet Healthcare by 37.3% during the second quarter. Quarry LP now owns 626 shares of the company’s stock worth $83,000 after purchasing an additional 170 shares in the last quarter. Finally, Truist Financial Corp lifted its holdings in Tenet Healthcare by 155.2% in the 2nd quarter. Truist Financial Corp now owns 24,175 shares of the company’s stock valued at $3,216,000 after purchasing an additional 14,703 shares in the last quarter. Institutional investors and hedge funds own 95.44% of the company’s stock.

Analyst Ratings Changes

THC has been the subject of a number of recent research reports. UBS Group increased their target price on shares of Tenet Healthcare from $197.00 to $217.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Cantor Fitzgerald boosted their target price on Tenet Healthcare from $168.00 to $177.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Truist Financial reduced their price objective on Tenet Healthcare from $190.00 to $175.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. KeyCorp cut their target price 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. Finally, Barclays upped their price objective on shares of Tenet Healthcare from $171.00 to $190.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Three research 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 stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $165.00.

Tenet Healthcare Price Performance

Shares of NYSE THC opened at $139.93 on Wednesday. The stock’s 50-day moving average is $134.38 and its two-hundred day moving average is $148.30. The company has a debt-to-equity ratio of 2.35, a current ratio of 1.58 and a quick ratio of 1.52. The company has a market cap of $13.31 billion, a price-to-earnings ratio of 4.48, a price-to-earnings-growth ratio of 0.60 and a beta of 2.06. Tenet Healthcare Co. has a 1-year low of $82.15 and a 1-year high of $171.20.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $2.93 EPS for the quarter, topping the consensus estimate of $2.33 by $0.60. The company had revenue of $5.12 billion during the quarter, compared to analysts’ expectations of $5.05 billion. Tenet Healthcare had a net margin of 14.91% and a return on equity of 24.05%. The firm’s revenue was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.44 EPS. Analysts forecast that Tenet Healthcare Co. will post 11.37 EPS for the current fiscal year.

Insider Activity

In other Tenet Healthcare news, EVP Lisa Y. Foo sold 4,000 shares of the company’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $155.94, for a total value of $623,760.00. Following the completion of the transaction, the executive vice president now owns 15,566 shares in the company, valued at $2,427,362.04. This represents a 20.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.93% of the company’s stock.

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.