16,423 Shares in Tenet Healthcare Co. (NYSE:THC) Bought by LGT Fund Management Co Ltd.

LGT Fund Management Co Ltd. purchased a new position in Tenet Healthcare Co. (NYSE:THC) in the fourth quarter, Holdings Channel.com reports. The fund purchased 16,423 shares of the company’s stock, valued at approximately $2,073,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Coldstream Capital Management Inc. lifted its stake in Tenet Healthcare by 2.2% in the third quarter. Coldstream Capital Management Inc. now owns 3,406 shares of the company’s stock worth $566,000 after acquiring an additional 74 shares during the period. Spire Wealth Management lifted its stake in Tenet Healthcare by 19.5% in the fourth quarter. Spire Wealth Management now owns 558 shares of the company’s stock worth $70,000 after acquiring an additional 91 shares during the period. CIBC Asset Management Inc lifted its stake in Tenet Healthcare by 3.4% in the third quarter. CIBC Asset Management Inc now owns 2,887 shares of the company’s stock worth $480,000 after acquiring an additional 94 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in Tenet Healthcare by 1.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 8,109 shares of the company’s stock worth $1,024,000 after acquiring an additional 100 shares during the period. Finally, Smartleaf Asset Management LLC lifted its position in Tenet Healthcare by 30.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 471 shares of the company’s stock valued at $59,000 after buying an additional 110 shares during the period. Hedge funds and other institutional investors own 95.44% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on THC. KeyCorp lowered their price objective on Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Truist Financial lowered their price objective on Tenet Healthcare from $190.00 to $175.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Wells Fargo & Company lowered Tenet Healthcare from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $205.00 to $150.00 in a research report on Monday, November 25th. StockNews.com raised Tenet Healthcare from a “hold” rating to a “buy” rating in a research report on Tuesday, February 25th. Finally, TD Cowen initiated coverage on Tenet Healthcare in a research report on Wednesday, February 26th. They set a “buy” rating and a $175.00 price objective for the company. Three research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $163.88.

Tenet Healthcare Price Performance

NYSE THC opened at $124.48 on Tuesday. Tenet Healthcare Co. has a one year low of $90.03 and a one year high of $171.20. The stock has a 50-day moving average of $132.92 and a 200 day moving average of $146.77. The company has a market capitalization of $11.84 billion, a price-to-earnings ratio of 3.86, a PEG ratio of 1.02 and a beta of 2.05. The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.70 and a current ratio of 1.78.

Tenet Healthcare (NYSE:THC) last released 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 return on equity of 21.88% and a net margin of 15.48%. On average, sell-side analysts forecast that Tenet Healthcare Co. will post 12.24 EPS for the current year.

About Tenet Healthcare

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.