Tenet Healthcare Co. (NYSE:THC) Shares Bought by South Dakota Investment Council

South Dakota Investment Council boosted its holdings in shares of Tenet Healthcare Co. (NYSE:THC) by 175.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 35,690 shares of the company’s stock after acquiring an additional 22,756 shares during the period. South Dakota Investment Council’s holdings in Tenet Healthcare were worth $4,505,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Coldstream Capital Management Inc. raised its position in Tenet Healthcare by 2.2% during 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 last quarter. Spire Wealth Management raised its position in shares of Tenet Healthcare by 19.5% in the fourth quarter. Spire Wealth Management now owns 558 shares of the company’s stock valued at $70,000 after buying an additional 91 shares during the last quarter. Optas LLC raised its position in shares of Tenet Healthcare by 3.4% in the third quarter. Optas LLC now owns 2,821 shares of the company’s stock valued at $469,000 after buying an additional 93 shares during the last quarter. Signaturefd LLC raised its position in shares of Tenet Healthcare by 17.6% in the third quarter. Signaturefd LLC now owns 628 shares of the company’s stock valued at $104,000 after buying an additional 94 shares during the last quarter. Finally, CIBC Asset Management Inc raised its position in shares of Tenet Healthcare by 3.4% in the third quarter. CIBC Asset Management Inc now owns 2,887 shares of the company’s stock valued at $480,000 after buying an additional 94 shares during the last quarter. Institutional investors and hedge funds own 95.44% of the company’s stock.

Wall Street Analyst Weigh In

THC has been the subject of a number of analyst reports. UBS Group boosted their price objective on shares of Tenet Healthcare from $197.00 to $217.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $175.00 price objective on shares of Tenet Healthcare in a research report on Tuesday, December 17th. Barclays lowered their target price on shares of Tenet Healthcare from $190.00 to $161.00 and set an “overweight” rating for the company in a report on Thursday, February 13th. The Goldman Sachs Group downgraded shares of Tenet Healthcare from a “buy” rating to a “neutral” rating and lowered their target price for the company from $196.00 to $140.00 in a report on Monday, December 16th. Finally, Wells Fargo & Company downgraded shares of Tenet Healthcare from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $205.00 to $150.00 in a report on Monday, November 25th. Four investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $163.19.

Tenet Healthcare Price Performance

THC opened at $129.57 on Monday. The company has a market cap of $12.32 billion, a P/E ratio of 4.02, a P/E/G ratio of 1.02 and a beta of 2.05. The company has a 50 day moving average of $132.90 and a two-hundred day moving average of $147.71. 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 52-week low of $88.98 and a 52-week high of $171.20.

Tenet Healthcare (NYSE:THC) last announced its earnings results on Wednesday, February 12th. The company reported $3.44 earnings per share for the quarter, beating the consensus estimate of $2.95 by $0.49. Tenet Healthcare had a net margin of 15.48% and a return on equity of 21.88%. On average, analysts expect that Tenet Healthcare Co. will post 12.24 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.