Quantbot Technologies LP Buys 5,504 Shares of Tenet Healthcare Co. (NYSE:THC)

Quantbot Technologies LP raised its holdings in Tenet Healthcare Co. (NYSE:THC) by 23.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 28,624 shares of the company’s stock after buying an additional 5,504 shares during the period. Quantbot Technologies LP’s holdings in Tenet Healthcare were worth $3,613,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. New Wave Wealth Advisors LLC bought a new stake in shares of Tenet Healthcare during the 4th quarter valued at $343,000. Swedbank AB boosted its holdings in Tenet Healthcare by 100.0% during the 4th quarter. Swedbank AB now owns 40,000 shares of the company’s stock valued at $5,049,000 after acquiring an additional 20,000 shares during the period. Signet Financial Management LLC bought a new stake in Tenet Healthcare in the fourth quarter valued at approximately $1,526,000. China Universal Asset Management Co. Ltd. purchased a new stake in shares of Tenet Healthcare during the fourth quarter worth about $410,000. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in Tenet Healthcare during the 4th quarter valued at $5,892,000. 95.44% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on THC. The Goldman Sachs Group downgraded Tenet Healthcare from a “buy” rating to a “neutral” rating and lowered their price target for the company from $196.00 to $140.00 in a report on Monday, December 16th. Truist Financial lowered their price objective on shares of Tenet Healthcare from $190.00 to $175.00 and set a “buy” rating for the company in a research report on Monday, January 6th. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $175.00 price objective on shares of Tenet Healthcare in a research report on Tuesday, December 17th. Raymond James cut shares of Tenet Healthcare from a “strong-buy” rating to an “outperform” rating and set a $195.00 price objective for the company. in a research report on Friday, November 22nd. Finally, KeyCorp decreased their price objective on Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Three research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $163.88.

Insider Buying and Selling at Tenet Healthcare

In other news, Director J Robert Kerrey sold 9,525 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $125.43, for a total transaction of $1,194,720.75. Following the completion of the transaction, the director now directly owns 27,378 shares of the company’s stock, valued at $3,434,022.54. This trade represents a 25.81 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.93% of the company’s stock.

Tenet Healthcare Stock Down 2.7 %

Shares of Tenet Healthcare stock opened at $122.87 on Friday. The stock’s fifty day moving average is $132.20 and its 200-day moving average is $143.41. The company has a quick ratio of 1.70, a current ratio of 1.78 and a debt-to-equity ratio of 2.25. Tenet Healthcare Co. has a 12-month low of $90.03 and a 12-month high of $171.20. The firm has a market capitalization of $11.69 billion, a PE ratio of 3.81, a price-to-earnings-growth ratio of 1.02 and a beta of 2.06.

Tenet Healthcare (NYSE:THC) last posted its earnings results on Wednesday, February 12th. The company reported $3.44 earnings per share for the quarter, topping the consensus estimate of $2.95 by $0.49. Tenet Healthcare had a return on equity of 21.88% and a net margin of 15.48%. Equities analysts anticipate 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.