Tenet Healthcare Co. (NYSE:THC) Position Lessened by Swiss National Bank

Swiss National Bank cut its stake in shares of Tenet Healthcare Co. (NYSE:THCFree Report) by 0.5% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 201,700 shares of the company’s stock after selling 1,000 shares during the quarter. Swiss National Bank’s holdings in Tenet Healthcare were worth $13,290,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. BlackRock Inc. boosted its position in shares of Tenet Healthcare by 14.7% in the first quarter. BlackRock Inc. now owns 11,639,373 shares of the company’s stock worth $691,612,000 after buying an additional 1,491,799 shares during the period. Vanguard Group Inc. boosted its position in shares of Tenet Healthcare by 0.7% in the first quarter. Vanguard Group Inc. now owns 10,932,708 shares of the company’s stock worth $939,775,000 after buying an additional 77,543 shares during the period. State Street Corp boosted its position in shares of Tenet Healthcare by 2.4% in the first quarter. State Street Corp now owns 3,377,944 shares of the company’s stock worth $290,368,000 after buying an additional 78,687 shares during the period. Marshall Wace LLP boosted its position in shares of Tenet Healthcare by 259.1% in the second quarter. Marshall Wace LLP now owns 2,281,465 shares of the company’s stock worth $185,666,000 after buying an additional 1,646,137 shares during the period. Finally, Goldman Sachs Group Inc. boosted its position in shares of Tenet Healthcare by 23.6% in the first quarter. Goldman Sachs Group Inc. now owns 2,180,627 shares of the company’s stock worth $187,446,000 after buying an additional 415,945 shares during the period. 93.56% of the stock is owned by institutional investors.

Tenet Healthcare Trading Down 1.0 %

Tenet Healthcare stock opened at $88.09 on Monday. The company has a debt-to-equity ratio of 4.77, a quick ratio of 1.34 and a current ratio of 1.51. The business’s 50-day simple moving average is $78.75 and its 200-day simple moving average is $70.57. The firm has a market capitalization of $8.95 billion, a PE ratio of 15.43, a PEG ratio of 4.61 and a beta of 2.10. Tenet Healthcare Co. has a 52 week low of $49.76 and a 52 week high of $91.85.

Tenet Healthcare (NYSE:THCGet Free Report) last posted its quarterly earnings data on Thursday, February 8th. The company reported $2.68 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $1.10. The business had revenue of $5.38 billion for the quarter, compared to analyst estimates of $5.28 billion. Tenet Healthcare had a return on equity of 26.34% and a net margin of 2.97%. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.96 earnings per share. Equities research analysts forecast that Tenet Healthcare Co. will post 6.22 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on THC shares. Jefferies Financial Group reduced their price objective on Tenet Healthcare from $95.00 to $85.00 and set a “buy” rating for the company in a research report on Tuesday, November 14th. The Goldman Sachs Group reduced their price objective on Tenet Healthcare from $98.00 to $85.00 and set a “buy” rating for the company in a research report on Thursday, November 9th. Royal Bank of Canada lifted their price objective on Tenet Healthcare from $97.00 to $109.00 and gave the company an “outperform” rating in a research report on Friday. Mizuho lifted their price objective on Tenet Healthcare from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Friday. Finally, Truist Financial lifted their price objective on Tenet Healthcare from $92.00 to $105.00 and gave the company a “buy” rating in a research report on Friday. One equities research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $92.47.

Check Out Our Latest Stock Report on THC

Insider Buying and Selling at Tenet Healthcare

In other Tenet Healthcare news, Director Richard W. Fisher sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $66.33, for a total value of $331,650.00. Following the completion of the transaction, the director now owns 23,227 shares of the company’s stock, valued at approximately $1,540,646.91. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.30% of the company’s stock.

About Tenet Healthcare

(Free Report)

Tenet Healthcare Corporation operates as a diversified healthcare services company. The company operates through three segments: Hospital Operations, Ambulatory Care, and Conifer. Its general hospitals offer acute care services, operating and recovery rooms, radiology and respiratory therapy services, clinical laboratories, and pharmacies.

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Institutional Ownership by Quarter for Tenet Healthcare (NYSE:THC)

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