Versor Investments LP Purchases 3,761 Shares of Tenet Healthcare Co. (NYSE:THC)

Versor Investments LP lifted its position in Tenet Healthcare Co. (NYSE:THC) by 69.1% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 9,200 shares of the company’s stock after acquiring an additional 3,761 shares during the period. Versor Investments LP’s holdings in Tenet Healthcare were worth $1,161,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Coldstream Capital Management Inc. grew its position in shares of Tenet Healthcare by 2.2% during the 3rd quarter. Coldstream Capital Management Inc. now owns 3,406 shares of the company’s stock valued at $566,000 after acquiring an additional 74 shares during the period. Spire Wealth Management lifted its position in Tenet Healthcare by 19.5% during the fourth quarter. Spire Wealth Management now owns 558 shares of the company’s stock valued at $70,000 after purchasing an additional 91 shares in the last quarter. Optas LLC grew its holdings in Tenet Healthcare by 3.4% during the third quarter. Optas LLC now owns 2,821 shares of the company’s stock valued at $469,000 after purchasing an additional 93 shares during the period. CIBC Asset Management Inc grew its holdings in Tenet Healthcare by 3.4% during the third quarter. CIBC Asset Management Inc now owns 2,887 shares of the company’s stock valued at $480,000 after purchasing an additional 94 shares during the period. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in Tenet Healthcare by 1.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 8,109 shares of the company’s stock valued at $1,024,000 after purchasing an additional 100 shares during the period. Institutional investors own 95.44% of the company’s stock.

Tenet Healthcare Trading Down 1.0 %

Shares of THC stock opened at $130.48 on Friday. Tenet Healthcare Co. has a 1 year low of $88.98 and a 1 year high of $171.20. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.78 and a quick ratio of 1.70. The stock’s 50 day simple moving average is $133.09 and its two-hundred day simple moving average is $147.25. The company has a market cap of $12.41 billion, a PE ratio of 4.05, a price-to-earnings-growth ratio of 1.02 and a beta of 2.05.

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

Analyst Upgrades and Downgrades

THC has been the subject of several recent research reports. TD Cowen initiated coverage on Tenet Healthcare in a report on Wednesday. They set a “buy” rating and a $175.00 price target for the company. The Goldman Sachs Group lowered Tenet Healthcare from a “buy” rating to a “neutral” rating and cut their price target for the company from $196.00 to $140.00 in a report on Monday, December 16th. KeyCorp dropped 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. Truist Financial dropped their price objective on Tenet Healthcare from $190.00 to $175.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Finally, Wells Fargo & Company lowered Tenet Healthcare from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $205.00 to $150.00 in a research note on Monday, November 25th. Three equities 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. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $163.88.

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.