Dimensional Fund Advisors LP Increases Stake in Tenet Healthcare Co. (NYSE:THC)

Dimensional Fund Advisors LP grew its holdings in Tenet Healthcare Co. (NYSE:THC - Free Report) by 22.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,493,532 shares of the company's stock after purchasing an additional 272,906 shares during the period. Dimensional Fund Advisors LP owned approximately 1.57% of Tenet Healthcare worth $188,524,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of THC. First Trust Advisors LP lifted its holdings in shares of Tenet Healthcare by 11.6% in the fourth quarter. First Trust Advisors LP now owns 305,858 shares of the company's stock worth $38,608,000 after buying an additional 31,815 shares in the last quarter. Forum Financial Management LP grew its position in shares of Tenet Healthcare by 43.5% during the 4th quarter. Forum Financial Management LP now owns 2,469 shares of the company's stock valued at $312,000 after purchasing an additional 749 shares in the last quarter. GeoWealth Management LLC increased its holdings in shares of Tenet Healthcare by 39.8% in the fourth quarter. GeoWealth Management LLC now owns 295 shares of the company's stock worth $37,000 after purchasing an additional 84 shares during the period. Alpha DNA Investment Management LLC boosted its stake in Tenet Healthcare by 10.1% during the fourth quarter. Alpha DNA Investment Management LLC now owns 3,352 shares of the company's stock valued at $423,000 after buying an additional 307 shares during the period. Finally, Zacks Investment Management grew its position in Tenet Healthcare by 13.9% during the fourth quarter. Zacks Investment Management now owns 22,931 shares of the company's stock worth $2,895,000 after buying an additional 2,804 shares in the last quarter. Institutional investors own 95.44% of the company's stock.

Tenet Healthcare Trading Up 7.9 %

Shares of NYSE THC traded up $9.75 during trading hours on Tuesday, hitting $133.66. The company's stock had a trading volume of 1,147,738 shares, compared to its average volume of 1,511,647. The business has a 50-day simple moving average of $126.27 and a 200-day simple moving average of $136.57. The stock has a market cap of $12.61 billion, a price-to-earnings ratio of 4.15, a P/E/G ratio of 1.02 and a beta of 1.77. 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 Co. has a 12 month low of $104.06 and a 12 month high of $171.20.

Tenet Healthcare (NYSE:THC - Get Free Report) last announced its earnings results on Tuesday, April 29th. The company reported $4.36 EPS for the quarter, beating analysts' consensus estimates of $3.11 by $1.25. The company had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $5.15 billion. Tenet Healthcare had a return on equity of 21.88% and a net margin of 15.48%. The firm's revenue for the quarter was down 2.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.22 earnings per share. On average, analysts anticipate that Tenet Healthcare Co. will post 12.24 earnings per share for the current fiscal year.

Insider Activity at Tenet Healthcare

In other news, Director J Robert Kerrey sold 9,525 shares of the company'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 sale, the director now directly owns 27,378 shares of the company's stock, valued at $3,434,022.54. This represents a 25.81 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.81% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Truist Financial cut their price objective on Tenet Healthcare from $190.00 to $175.00 and set a "buy" rating for the company in a report on Monday, January 6th. KeyCorp decreased their price target on shares of Tenet Healthcare from $200.00 to $185.00 and set an "overweight" rating on the stock in a report on Tuesday, January 7th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $177.00 target price on shares of Tenet Healthcare in a research report on Thursday, February 13th. Barclays lowered their price target on Tenet Healthcare from $190.00 to $161.00 and set an "overweight" rating on the stock in a research report on Thursday, February 13th. Finally, Guggenheim initiated coverage on Tenet Healthcare in a research report on Wednesday, April 9th. They set a "buy" rating and a $165.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $165.44.

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.