Tenet Healthcare Co. (NYSE:THC) Shares Sold by Private Management Group Inc.

Private Management Group Inc. cut its holdings in shares of Tenet Healthcare Co. (NYSE:THC) by 1.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 89,082 shares of the company’s stock after selling 1,601 shares during the period. Private Management Group Inc. owned about 0.09% of Tenet Healthcare worth $11,245,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. FMR LLC grew its holdings in 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 acquiring an additional 3,604,161 shares during the period. Geode Capital Management LLC increased its holdings in shares of Tenet Healthcare by 23.6% during the 3rd quarter. Geode Capital Management LLC now owns 2,044,667 shares of the company’s stock valued at $339,893,000 after purchasing an additional 390,316 shares in the last quarter. Franklin Resources Inc. boosted its holdings in Tenet Healthcare by 11.9% during the third quarter. Franklin Resources Inc. now owns 457,704 shares of the company’s stock worth $71,077,000 after buying an additional 48,580 shares in the last quarter. Point72 Asset Management L.P. increased its holdings in Tenet Healthcare by 32.0% in the third quarter. Point72 Asset Management L.P. now owns 442,949 shares of the company’s stock valued at $73,618,000 after buying an additional 107,290 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Tenet Healthcare by 344.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 317,198 shares of the company’s stock worth $52,718,000 after acquiring an additional 245,875 shares in the last quarter. 95.44% of the stock is owned by institutional investors and hedge funds.

Tenet Healthcare Stock Up 0.9 %

Shares of THC opened at $145.00 on Thursday. The stock has a fifty day simple moving average of $134.04 and a two-hundred day simple moving average of $148.62. The company has a quick ratio of 1.52, a current ratio of 1.58 and a debt-to-equity ratio of 2.35. The company has a market capitalization of $13.79 billion, a PE ratio of 4.65, a price-to-earnings-growth ratio of 0.63 and a beta of 2.05. Tenet Healthcare Co. has a 52-week low of $86.70 and a 52-week high of $171.20.

Wall Street Analyst Weigh In

THC has been the subject of a number of analyst reports. Truist Financial reduced their price target on Tenet Healthcare from $190.00 to $175.00 and set a “buy” rating for the company in a report on Monday, January 6th. Barclays lifted their price target on shares of Tenet Healthcare from $171.00 to $190.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. KeyCorp decreased their price objective on shares of Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Wells Fargo & Company downgraded shares of Tenet Healthcare from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $205.00 to $150.00 in a research report on Monday, November 25th. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating and set a $175.00 price objective on shares of Tenet Healthcare in a research note on Tuesday, December 17th. Three analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $165.00.

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.