6,023 Shares in Tenet Healthcare Co. (NYSE:THC) Acquired by Nebula Research & Development LLC

Nebula Research & Development LLC acquired a new position in Tenet Healthcare Co. (NYSE:THC - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 6,023 shares of the company's stock, valued at approximately $760,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its position in shares of Tenet Healthcare by 3.5% during the fourth quarter. Geode Capital Management LLC now owns 2,116,121 shares of the company's stock valued at $268,591,000 after acquiring an additional 71,454 shares during the last quarter. Norges Bank purchased a new stake in shares of Tenet Healthcare during the 4th quarter valued at $190,819,000. Dimensional Fund Advisors LP raised its stake in shares of Tenet Healthcare by 22.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,493,532 shares of the company's stock worth $188,524,000 after purchasing an additional 272,906 shares during the period. Allianz Asset Management GmbH boosted its holdings in shares of Tenet Healthcare by 15.1% in the 4th quarter. Allianz Asset Management GmbH now owns 577,143 shares of the company's stock worth $72,853,000 after buying an additional 75,688 shares during the last quarter. Finally, Wealthfront Advisers LLC purchased a new stake in Tenet Healthcare during the fourth quarter worth about $69,059,000. Hedge funds and other institutional investors own 95.44% of the company's stock.

Insiders Place Their Bets

In other news, Director J Robert Kerrey sold 9,525 shares of the stock in a transaction on Tuesday, March 11th. The stock was 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 represents a 25.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.81% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on THC shares. UBS Group increased their target price on shares of Tenet Healthcare from $217.00 to $230.00 and gave the company a "buy" rating in a research report on Wednesday. Royal Bank of Canada increased their price target on shares of Tenet Healthcare from $183.00 to $189.00 and gave the stock an "outperform" rating in a report on Wednesday. Baird R W lowered Tenet Healthcare from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 15th. Truist Financial cut their target price on shares of Tenet Healthcare from $190.00 to $175.00 and set a "buy" rating for the company in a research report on Monday, January 6th. Finally, Robert W. Baird reaffirmed a "neutral" rating and issued a $137.00 target price (down previously from $153.00) on shares of Tenet Healthcare in a research note on Tuesday, April 15th. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $172.19.

Tenet Healthcare Trading Up 2.0 %

THC stock traded up $2.92 on Friday, reaching $148.21. The company's stock had a trading volume of 1,467,131 shares, compared to its average volume of 1,559,298. 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 business has a fifty day simple moving average of $127.09 and a two-hundred day simple moving average of $136.28. The firm has a market cap of $13.99 billion, a PE ratio of 4.60, a PEG ratio of 1.02 and a beta of 1.77. Tenet Healthcare Co. has a 12-month low of $109.82 and a 12-month high of $171.20.

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

Tenet Healthcare Company 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.