Allspring Global Investments Holdings LLC Decreases Position in Tenet Healthcare Co. (NYSE:THC)

Allspring Global Investments Holdings LLC trimmed its position in shares of Tenet Healthcare Co. (NYSE:THC) by 5.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 300,779 shares of the company’s stock after selling 16,419 shares during the period. Allspring Global Investments Holdings LLC owned 0.32% of Tenet Healthcare worth $37,689,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in THC. Plato Investment Management Ltd purchased a new stake in Tenet Healthcare in the 3rd quarter worth about $28,000. Financial Management Professionals Inc. increased its stake in shares of Tenet Healthcare by 2,222.2% in the third quarter. Financial Management Professionals Inc. now owns 209 shares of the company’s stock worth $35,000 after purchasing an additional 200 shares in the last quarter. True Wealth Design LLC bought a new stake in shares of Tenet Healthcare in the third quarter valued at approximately $38,000. Wilmington Savings Fund Society FSB boosted its holdings in Tenet Healthcare by 1,352.8% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 523 shares of the company’s stock worth $66,000 after buying an additional 487 shares during the period. Finally, Spire Wealth Management raised its holdings in Tenet Healthcare by 19.5% during the 4th quarter. Spire Wealth Management now owns 558 shares of the company’s stock valued at $70,000 after acquiring an additional 91 shares during the period. 95.44% of the stock is currently owned by institutional investors.

Tenet Healthcare Stock Performance

NYSE THC opened at $133.40 on Friday. Tenet Healthcare Co. has a 12-month low of $88.57 and a 12-month high of $171.20. 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 50-day simple moving average of $133.32 and a two-hundred day simple moving average of $148.13. The firm has a market cap of $12.69 billion, a price-to-earnings ratio of 4.27, a PEG ratio of 0.63 and a beta of 2.05.

Tenet Healthcare (NYSE:THC) last announced its quarterly earnings data 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 24.05% and a net margin of 14.91%. On average, equities analysts forecast that Tenet Healthcare Co. will post 11.37 EPS for the current year.

Analyst Ratings Changes

THC has been the subject of several recent research reports. KeyCorp reduced their price target on Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Truist Financial lowered their price target on shares of Tenet Healthcare from $190.00 to $175.00 and set a “buy” rating on the stock in a report on Monday, January 6th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $175.00 target price on shares of Tenet Healthcare in a report on Tuesday, December 17th. UBS Group boosted their price target 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. Finally, Barclays dropped their price objective on Tenet Healthcare from $190.00 to $161.00 and set an “overweight” rating for the company in a research note on Thursday. Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Tenet Healthcare has a consensus rating of “Moderate Buy” and an average target price of $163.19.

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.