Castellan Group Has $5 Million Holdings in Tenet Healthcare Co. (NYSE:THC)

Castellan Group boosted its stake in Tenet Healthcare Co. (NYSE:THC) by 4.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 39,588 shares of the company’s stock after purchasing an additional 1,663 shares during the quarter. Tenet Healthcare comprises about 2.2% of Castellan Group’s holdings, making the stock its 22nd biggest position. Castellan Group’s holdings in Tenet Healthcare were worth $4,997,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of THC. Plato Investment Management Ltd acquired a new stake in Tenet Healthcare in the third quarter worth $28,000. ORG Wealth Partners LLC acquired a new stake in Tenet Healthcare in the third quarter worth $30,000. Financial Management Professionals Inc. grew its holdings in 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 during the period. True Wealth Design LLC acquired a new stake in Tenet Healthcare in the third quarter worth $38,000. Finally, Wilmington Savings Fund Society FSB grew 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 worth $66,000 after purchasing an additional 487 shares during the period. 95.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Truist Financial dropped their price objective on shares of Tenet Healthcare from $190.00 to $175.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. The Goldman Sachs Group lowered shares of Tenet Healthcare from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $196.00 to $140.00 in a research note on Monday, December 16th. KeyCorp dropped their price objective on shares of Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. UBS Group raised their price objective on shares of Tenet Healthcare from $197.00 to $217.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, Barclays raised their price target 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 investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Tenet Healthcare presently has a consensus rating of “Moderate Buy” and an average target price of $165.00.

Tenet Healthcare Stock Performance

Shares of THC stock opened at $126.29 on Thursday. The firm has a market cap of $12.01 billion, a price-to-earnings ratio of 4.05, a P/E/G ratio of 0.63 and a beta of 2.05. The company has a debt-to-equity ratio of 2.35, a quick ratio of 1.52 and a current ratio of 1.58. Tenet Healthcare Co. has a 52 week low of $86.90 and a 52 week high of $171.20. The firm’s 50-day simple moving average is $133.55 and its two-hundred day simple moving average is $148.37.

Tenet Healthcare (NYSE:THC) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $3.44 EPS for the quarter, topping the consensus estimate of $2.95 by $0.49. Tenet Healthcare had a net margin of 14.91% and a return on equity of 24.05%. As a group, equities analysts forecast that Tenet Healthcare Co. will post 11.37 earnings per share 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.