Los Angeles Capital Management LLC Raises Stock Holdings in Tenet Healthcare Co. (NYSE:THC)

Los Angeles Capital Management LLC increased its position in Tenet Healthcare Co. (NYSE:THC) by 396.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 111,781 shares of the company’s stock after buying an additional 89,287 shares during the quarter. Los Angeles Capital Management LLC owned 0.12% of Tenet Healthcare worth $14,110,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in THC. Plato Investment Management Ltd bought a new stake in Tenet Healthcare in the third quarter valued at $28,000. True Wealth Design LLC bought a new stake in Tenet Healthcare in the third quarter valued at $38,000. Kestra Investment Management LLC bought a new stake in Tenet Healthcare in the fourth quarter valued at $60,000. Wilmington Savings Fund Society FSB boosted its holdings in Tenet Healthcare by 1,352.8% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 523 shares of the company’s stock valued at $66,000 after acquiring an additional 487 shares in the last quarter. Finally, Spire Wealth Management boosted its holdings in Tenet Healthcare by 19.5% in the fourth quarter. Spire Wealth Management now owns 558 shares of the company’s stock valued at $70,000 after acquiring an additional 91 shares in the last quarter. 95.44% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on THC shares. Barclays cut their price target on shares of Tenet Healthcare from $190.00 to $161.00 and set an “overweight” rating on the stock in a report on Thursday, February 13th. JPMorgan Chase & Co. restated an “overweight” rating and set a $175.00 target price on shares of Tenet Healthcare in a report on Tuesday, December 17th. Truist Financial dropped their target price 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. The Goldman Sachs Group cut shares of Tenet Healthcare from a “buy” rating to a “neutral” rating and dropped their target price for the company from $196.00 to $140.00 in a report on Monday, December 16th. Finally, StockNews.com upgraded shares of Tenet Healthcare from a “hold” rating to a “buy” rating in a report on Tuesday. Three investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus 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. Tenet Healthcare Co. has a fifty-two week low of $88.98 and a fifty-two week high of $171.20. The business has a 50-day simple moving average of $132.90 and a two-hundred day simple moving average of $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. The firm has a market cap of $12.82 billion, a price-to-earnings ratio of 4.18, a price-to-earnings-growth ratio of 1.02 and a beta of 2.05.

Tenet Healthcare (NYSE:THC) last issued its earnings results on Wednesday, February 12th. The company reported $3.44 earnings per share 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%. On average, analysts expect that Tenet Healthcare Co. will post 12.24 earnings per share for the current year.

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.