Tenet Healthcare Co. (NYSE:THC) Holdings Lessened by Sivik Global Healthcare LLC

Sivik Global Healthcare LLC lowered its position in Tenet Healthcare Co. (NYSE:THC) by 15.4% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 55,000 shares of the company’s stock after selling 10,000 shares during the quarter. Tenet Healthcare makes up 3.7% of Sivik Global Healthcare LLC’s investment portfolio, making the stock its 6th biggest position. Sivik Global Healthcare LLC’s holdings in Tenet Healthcare were worth $6,943,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of THC. The Manufacturers Life Insurance Company boosted its holdings in shares of Tenet Healthcare by 7.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 146,558 shares of the company’s stock valued at $19,497,000 after buying an additional 9,527 shares during the period. Susquehanna Fundamental Investments LLC bought a new stake in Tenet Healthcare in the second quarter valued at $891,000. Creative Planning raised its holdings in shares of Tenet Healthcare by 8.1% during the second quarter. Creative Planning now owns 15,638 shares of the company’s stock valued at $2,080,000 after buying an additional 1,170 shares during the last quarter. Quarry LP grew its stake in shares of Tenet Healthcare by 37.3% in the 2nd quarter. Quarry LP now owns 626 shares of the company’s stock worth $83,000 after purchasing an additional 170 shares during the last quarter. Finally, Truist Financial Corp boosted its holdings in Tenet Healthcare by 155.2% during the second quarter. Truist Financial Corp now owns 24,175 shares of the company’s stock worth $3,216,000 after buying an additional 14,703 shares in the last quarter. Institutional investors and hedge funds own 95.44% of the company’s stock.

Tenet Healthcare Stock Performance

Shares of THC opened at $139.43 on Thursday. The company has a debt-to-equity ratio of 2.35, a current ratio of 1.58 and a quick ratio of 1.52. The company has a market cap of $13.26 billion, a PE ratio of 4.47, a price-to-earnings-growth ratio of 0.60 and a beta of 2.06. Tenet Healthcare Co. has a one year low of $82.15 and a one year high of $171.20. The firm has a 50-day moving average of $134.13 and a 200-day moving average of $148.23.

Tenet Healthcare (NYSE:THC) last released its earnings results on Tuesday, October 29th. The company reported $2.93 earnings per share for the quarter, beating analysts’ consensus estimates of $2.33 by $0.60. Tenet Healthcare had a return on equity of 24.05% and a net margin of 14.91%. The firm had revenue of $5.12 billion during the quarter, compared to the consensus estimate of $5.05 billion. During the same period in the prior year, the company posted $1.44 EPS. The company’s revenue was up 1.1% compared to the same quarter last year. As a group, equities analysts forecast that Tenet Healthcare Co. will post 11.37 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on THC shares. Cantor Fitzgerald upped their target price on Tenet Healthcare from $168.00 to $177.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Royal Bank of Canada upped their price objective on shares of Tenet Healthcare from $174.00 to $183.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Wells Fargo & Company cut Tenet Healthcare from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $205.00 to $150.00 in a research report on Monday, November 25th. StockNews.com downgraded shares of Tenet Healthcare from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, December 17th. Finally, Barclays upped their price objective on shares of Tenet Healthcare from $171.00 to $190.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Three research 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’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $165.00.

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.