51,402 Shares in Tenet Healthcare Co. (NYSE:THC) Acquired by DnB Asset Management AS

DnB Asset Management AS bought a new stake in Tenet Healthcare Co. (NYSE:THC) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 51,402 shares of the company’s stock, valued at approximately $6,488,000.

Several other large investors have also made changes to their positions in the company. Townsquare Capital LLC acquired a new position in Tenet Healthcare during the 3rd quarter valued at about $384,000. Freedom Investment Management Inc. bought a new position in Tenet Healthcare in the third quarter valued at approximately $405,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Tenet Healthcare by 57.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,714 shares of the company’s stock valued at $5,105,000 after acquiring an additional 11,214 shares during the last quarter. Hantz Financial Services Inc. bought a new position in shares of Tenet Healthcare in the 3rd quarter worth $83,000. Finally, Captrust Financial Advisors increased its holdings in Tenet Healthcare by 80.7% in the third quarter. Captrust Financial Advisors now owns 2,747 shares of the company’s stock valued at $456,000 after purchasing an additional 1,227 shares during the last quarter. Institutional investors and hedge funds own 95.44% of the company’s stock.

Insider Buying and Selling at Tenet Healthcare

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

Analyst Ratings Changes

Several equities analysts have recently issued reports on THC shares. Truist Financial decreased their target price 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. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $175.00 target price on shares of Tenet Healthcare in a research note on Tuesday, December 17th. KeyCorp decreased their price target on shares of Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. StockNews.com raised Tenet Healthcare from a “hold” rating to a “buy” rating in a research note on Thursday, March 13th. Finally, The Goldman Sachs Group downgraded Tenet Healthcare from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $196.00 to $140.00 in a report on Monday, December 16th. Three analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $166.41.

Tenet Healthcare Trading Down 0.9 %

Tenet Healthcare stock opened at $133.17 on Monday. 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 firm has a 50-day moving average of $132.43 and a 200-day moving average of $142.31. The company has a market cap of $12.67 billion, a price-to-earnings ratio of 4.13, a P/E/G ratio of 1.02 and a beta of 2.06. Tenet Healthcare Co. has a one year low of $90.03 and a one year high of $171.20.

Tenet Healthcare (NYSE:THC) last posted its quarterly 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%. On average, equities analysts expect that Tenet Healthcare Co. will post 12.24 earnings per share for the current fiscal 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.