Tenet Healthcare Co. (NYSE:THC) Shares Purchased by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC boosted its stake in Tenet Healthcare Co. (NYSE:THC) by 19.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 3,507 shares of the company’s stock after purchasing an additional 574 shares during the period. Concurrent Investment Advisors LLC’s holdings in Tenet Healthcare were worth $443,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of THC. FMR LLC grew its stake in shares of Tenet Healthcare by 88.0% in 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 in the last quarter. Geode Capital Management LLC grew its stake in shares of Tenet Healthcare by 23.6% in the third quarter. Geode Capital Management LLC now owns 2,044,667 shares of the company’s stock worth $339,893,000 after acquiring an additional 390,316 shares in the last quarter. Iron Triangle Partners LP acquired a new position in shares of Tenet Healthcare in the third quarter worth $51,346,000. Point72 Asset Management L.P. grew its stake in shares of Tenet Healthcare by 32.0% in the third quarter. Point72 Asset Management L.P. now owns 442,949 shares of the company’s stock worth $73,618,000 after acquiring an additional 107,290 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in shares of Tenet Healthcare by 60.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 253,931 shares of the company’s stock worth $32,054,000 after acquiring an additional 96,106 shares in the last quarter. Institutional investors and hedge funds own 95.44% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on THC. Cantor Fitzgerald reiterated an “overweight” rating and set a $177.00 target price on shares of Tenet Healthcare in a research note on Thursday, February 13th. Truist Financial lowered their target price on shares of Tenet Healthcare from $190.00 to $175.00 and set a “buy” rating for the company in a research note on Monday, January 6th. The Goldman Sachs Group downgraded shares of Tenet Healthcare from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $196.00 to $140.00 in a research note on Monday, December 16th. StockNews.com downgraded shares of Tenet Healthcare from a “buy” rating to a “hold” rating in a research note on Thursday, February 13th. Finally, Barclays lowered their target price on shares of Tenet Healthcare from $190.00 to $161.00 and set an “overweight” rating for the company in a research note on Thursday, February 13th. Four equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $163.19.

Tenet Healthcare Price Performance

Shares of NYSE:THC opened at $131.55 on Tuesday. The company has a 50-day simple moving average of $132.86 and a 200-day simple moving average of $147.58. Tenet Healthcare Co. has a one year low of $88.98 and a one year high of $171.20. 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 stock has a market capitalization of $12.51 billion, a price-to-earnings ratio of 4.08, a PEG ratio of 1.02 and a beta of 2.05.

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

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.