Worldquant Millennium Advisors LLC Grows Stock Position in Tenet Healthcare Co. (NYSE:THC)

Worldquant Millennium Advisors LLC boosted its holdings in shares of Tenet Healthcare Co. (NYSE:THC - Free Report) by 149.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 27,318 shares of the company's stock after buying an additional 16,364 shares during the quarter. Worldquant Millennium Advisors LLC's holdings in Tenet Healthcare were worth $3,448,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Geode Capital Management LLC increased its holdings in Tenet Healthcare by 3.5% in the 4th quarter. Geode Capital Management LLC now owns 2,116,121 shares of the company's stock worth $268,591,000 after acquiring an additional 71,454 shares in the last quarter. Norges Bank bought a new position in Tenet Healthcare in the 4th quarter worth $190,819,000. Dimensional Fund Advisors LP raised 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 valued at $188,524,000 after acquiring an additional 272,906 shares during the period. AQR Capital Management LLC lifted its position in shares of Tenet Healthcare by 20.8% in the fourth quarter. AQR Capital Management LLC now owns 872,117 shares of the company's stock valued at $110,087,000 after acquiring an additional 150,361 shares in the last quarter. Finally, Northern Trust Corp grew its position in shares of Tenet Healthcare by 22.0% during the fourth quarter. Northern Trust Corp now owns 848,049 shares of the company's stock worth $107,049,000 after purchasing an additional 152,671 shares in the last quarter. 95.44% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

THC has been the topic of several research analyst reports. Baird R W downgraded shares of Tenet Healthcare from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 15th. Bank of America increased their price objective on shares of Tenet Healthcare from $165.00 to $180.00 and gave the company a "buy" rating in a report on Wednesday, May 14th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $177.00 target price on shares of Tenet Healthcare in a report on Thursday, February 13th. Truist Financial increased their price target on Tenet Healthcare from $175.00 to $190.00 and gave the company a "buy" rating in a research note on Monday, May 12th. Finally, UBS Group lifted their price objective on Tenet Healthcare from $217.00 to $230.00 and gave the stock a "buy" rating in a research note on Wednesday, April 30th. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $174.94.

Tenet Healthcare Stock Performance

Tenet Healthcare stock opened at $161.10 on Friday. 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 market capitalization of $14.96 billion, a P/E ratio of 5.00, a price-to-earnings-growth ratio of 1.02 and a beta of 1.63. Tenet Healthcare Co. has a 1-year low of $109.82 and a 1-year high of $171.20. The company's 50-day moving average is $136.15 and its 200 day moving average is $136.63.

Tenet Healthcare (NYSE:THC - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $4.36 earnings per share for the quarter, topping the consensus estimate of $3.11 by $1.25. The firm had revenue of $5.22 billion for 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 company's revenue for the quarter was down 2.5% on a year-over-year basis. During the same period in the prior year, the business posted $3.22 earnings per share. Research analysts forecast that Tenet Healthcare Co. will post 12.24 EPS for the current year.

Insider Activity

In related news, EVP Paola M. Arbour sold 6,461 shares of the business's stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $160.20, for a total value of $1,035,052.20. Following the completion of the sale, the executive vice president now owns 27,848 shares in the company, valued at approximately $4,461,249.60. The trade was a 18.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director J Robert Kerrey sold 9,525 shares of Tenet Healthcare stock in a transaction on 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 approximately $3,434,022.54. This trade represents a 25.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,987 shares of company stock valued at $2,972,421. 0.81% of the stock is currently owned by company insiders.

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.

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