Barclays PLC Acquires 69,867 Shares of Tenet Healthcare Co. (NYSE:THC)

Barclays PLC lifted its position in Tenet Healthcare Co. (NYSE:THC - Free Report) by 50.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 208,733 shares of the company's stock after purchasing an additional 69,867 shares during the quarter. Barclays PLC owned 0.22% of Tenet Healthcare worth $26,348,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Sterling Capital Management LLC lifted its stake in Tenet Healthcare by 10.7% in the fourth quarter. Sterling Capital Management LLC now owns 16,129 shares of the company's stock valued at $2,036,000 after acquiring an additional 1,562 shares during the last quarter. Quinn Opportunity Partners LLC acquired a new stake in Tenet Healthcare during the fourth quarter worth approximately $379,000. Jaffetilchin Investment Partners LLC lifted its stake in Tenet Healthcare by 51.1% during the fourth quarter. Jaffetilchin Investment Partners LLC now owns 1,695 shares of the company's stock worth $214,000 after purchasing an additional 573 shares during the last quarter. Treasurer of the State of North Carolina lifted its stake in Tenet Healthcare by 2.4% during the fourth quarter. Treasurer of the State of North Carolina now owns 58,019 shares of the company's stock worth $7,324,000 after purchasing an additional 1,345 shares during the last quarter. Finally, LSV Asset Management lifted its stake in shares of Tenet Healthcare by 45.6% in the 4th quarter. LSV Asset Management now owns 136,240 shares of the company's stock valued at $17,198,000 after acquiring an additional 42,640 shares during the last quarter. 95.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

THC has been the topic of several recent research reports. Barclays cut their price target on Tenet Healthcare from $190.00 to $161.00 and set an "overweight" rating on the stock in a report on Thursday, February 13th. Robert W. Baird reissued a "neutral" rating and issued a $137.00 price objective (down previously from $153.00) on shares of Tenet Healthcare in a report on Tuesday, April 15th. Truist Financial reduced their target price on Tenet Healthcare from $190.00 to $175.00 and set a "buy" rating for the company in a report on Monday, January 6th. StockNews.com raised shares of Tenet Healthcare from a "hold" rating to a "buy" rating in a research note on Thursday, March 13th. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $177.00 price target on shares of Tenet Healthcare in a research report on Thursday, February 13th. Five investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $165.44.

Insider Buying and Selling

In other 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 transaction, the director now owns 27,378 shares in the company, valued at approximately $3,434,022.54. This trade represents a 25.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.93% of the stock is currently owned by company insiders.

Tenet Healthcare Price Performance

Shares of THC stock traded up $2.37 during mid-day trading on Thursday, hitting $123.42. 220,189 shares of the stock traded hands, compared to its average volume of 1,506,726. 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 firm has a market cap of $11.65 billion, a price-to-earnings ratio of 3.83, a price-to-earnings-growth ratio of 1.02 and a beta of 1.77. The company's 50-day simple moving average is $126.95 and its 200-day simple moving average is $137.42. Tenet Healthcare Co. has a twelve month low of $92.01 and a twelve month high of $171.20.

Tenet Healthcare (NYSE:THC - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $3.44 earnings per share (EPS) for the quarter, topping 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%. As a group, equities research analysts expect that Tenet Healthcare Co. will post 12.24 earnings per share 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.