South Dakota Investment Council Has $6.71 Million Position in Tenet Healthcare Corporation (NYSE:THC)

South Dakota Investment Council boosted its holdings in shares of Tenet Healthcare Corporation (NYSE:THC - Free Report) by 39.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,914 shares of the company's stock after purchasing an additional 14,224 shares during the period. South Dakota Investment Council owned 0.05% of Tenet Healthcare worth $6,713,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank bought a new position in shares of Tenet Healthcare in the 4th quarter worth $190,819,000. Raymond James Financial Inc. bought a new position in shares of Tenet Healthcare in the 4th quarter worth $49,001,000. Renaissance Technologies LLC lifted its holdings in Tenet Healthcare by 579.2% during the fourth quarter. Renaissance Technologies LLC now owns 438,563 shares of the company's stock worth $55,360,000 after acquiring an additional 373,988 shares in the last quarter. Bridgewater Associates LP lifted its holdings in Tenet Healthcare by 225.4% during the fourth quarter. Bridgewater Associates LP now owns 407,194 shares of the company's stock worth $51,400,000 after acquiring an additional 282,071 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Tenet Healthcare by 22.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,493,532 shares of the company's stock worth $188,524,000 after acquiring an additional 272,906 shares in the last quarter. 95.44% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have weighed in on THC. Baird R W lowered Tenet Healthcare from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 15th. Mizuho lifted their target price on Tenet Healthcare from $184.00 to $194.00 and gave the stock an "outperform" rating in a report on Friday, July 11th. UBS Group lifted their target price on Tenet Healthcare from $217.00 to $230.00 and gave the stock a "buy" rating in a report on Wednesday, April 30th. Bank of America boosted their price target on Tenet Healthcare from $165.00 to $180.00 and gave the company a "buy" rating in a report on Wednesday, May 14th. Finally, Truist Financial set a $205.00 price target on Tenet Healthcare and gave the company a "buy" rating in a report on Wednesday, July 16th. Four investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Tenet Healthcare currently has an average rating of "Moderate Buy" and an average price target of $185.41.

Tenet Healthcare Stock Performance

NYSE THC traded down $0.34 during trading on Monday, reaching $174.72. 2,589,103 shares of the company's stock were exchanged, compared to its average volume of 1,553,065. The business has a 50 day moving average price of $168.41 and a 200-day moving average price of $144.34. The stock has a market capitalization of $16.23 billion, a P/E ratio of 11.56, a PEG ratio of 1.35 and a beta of 1.64. The company has a debt-to-equity ratio of 2.23, a current ratio of 1.78 and a quick ratio of 1.70. Tenet Healthcare Corporation has a fifty-two week low of $109.82 and a fifty-two week high of $179.91.

Tenet Healthcare (NYSE:THC - Get Free Report) last posted its earnings results on Tuesday, April 29th. The company reported $4.36 EPS for the quarter, beating the consensus estimate of $3.11 by $1.25. Tenet Healthcare had a return on equity of 22.58% and a net margin of 7.09%. The company had revenue of $5.22 billion for the quarter, compared to the consensus estimate of $5.15 billion. During the same quarter in the prior year, the business earned $3.22 earnings per share. The firm's revenue for the quarter was down 2.5% on a year-over-year basis. Sell-side analysts forecast that Tenet Healthcare Corporation will post 12.24 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Richard W. Fisher sold 836 shares of the business's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $173.16, for a total value of $144,761.76. Following the completion of the sale, the director directly owned 11,292 shares in the company, valued at approximately $1,955,322.72. The trade was a 6.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director J Robert Kerrey sold 1,222 shares of the firm's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $164.96, for a total value of $201,581.12. Following the completion of the sale, the director directly owned 22,377 shares in the company, valued at approximately $3,691,309.92. This represents a 5.18% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 54,121 shares of company stock valued at $8,846,305 in the last quarter. Company insiders own 0.81% of the company's stock.

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.