CIBC Private Wealth Group LLC Boosts Holdings in Tenet Healthcare Co. (NYSE:THC)

CIBC Private Wealth Group LLC increased its stake in shares of Tenet Healthcare Co. (NYSE:THC) by 1.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,619 shares of the company’s stock after purchasing an additional 92 shares during the period. CIBC Private Wealth Group LLC’s holdings in Tenet Healthcare were worth $732,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Tenet Healthcare in the fourth quarter worth approximately $190,819,000. Wealthfront Advisers LLC acquired a new stake in Tenet Healthcare during the 4th quarter worth $69,059,000. Geode Capital Management LLC raised its position in shares of Tenet Healthcare by 23.6% in the third quarter. Geode Capital Management LLC now owns 2,044,667 shares of the company’s stock valued at $339,893,000 after buying an additional 390,316 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Tenet Healthcare in the fourth quarter worth about $49,001,000. Finally, Victory Capital Management Inc. grew its stake in Tenet Healthcare by 68.9% during the 4th quarter. Victory Capital Management Inc. now owns 507,055 shares of the company’s stock valued at $64,006,000 after acquiring an additional 206,907 shares in the last quarter. 95.44% of the stock is currently owned by institutional investors and hedge funds.

Tenet Healthcare Trading Down 9.5 %

Shares of THC stock opened at $120.23 on Friday. The stock has a market capitalization of $11.44 billion, a P/E ratio of 3.73, a price-to-earnings-growth ratio of 1.02 and a beta of 1.77. Tenet Healthcare Co. has a fifty-two week low of $90.03 and a fifty-two week high of $171.20. The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.70 and a current ratio of 1.78. The company has a 50 day moving average price of $132.13 and a 200 day moving average price of $141.54.

Tenet Healthcare (NYSE:THC) last released its earnings results 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%. Equities research analysts predict that Tenet Healthcare Co. will post 12.24 EPS for the current fiscal year.

Insider Transactions at Tenet Healthcare

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

Wall Street Analyst Weigh In

THC has been the subject of a number of analyst reports. The Goldman Sachs Group lowered Tenet Healthcare from a “buy” rating to a “neutral” rating and dropped their price target for the company from $196.00 to $140.00 in a research report on Monday, December 16th. Cantor Fitzgerald restated an “overweight” rating and issued a $177.00 target price on shares of Tenet Healthcare in a report on Thursday, February 13th. Barclays lowered their price target on shares of Tenet Healthcare from $190.00 to $161.00 and set an “overweight” rating on the stock in a research report on Thursday, February 13th. Truist Financial cut 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. Finally, Morgan Stanley began coverage on shares of Tenet Healthcare in a research note on Wednesday, March 26th. They issued an “overweight” rating and a $165.00 price target for the company. Three analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $166.41.

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.