Pinebridge Investments L.P. Acquires 5,933 Shares of Tenet Healthcare Co. (NYSE:THC)

Pinebridge Investments L.P. raised its holdings in shares of Tenet Healthcare Co. (NYSE:THC - Free Report) by 10.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 61,626 shares of the company's stock after purchasing an additional 5,933 shares during the period. Pinebridge Investments L.P. owned about 0.06% of Tenet Healthcare worth $7,779,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. GeoWealth Management LLC boosted its stake in Tenet Healthcare by 39.8% in the fourth quarter. GeoWealth Management LLC now owns 295 shares of the company's stock valued at $37,000 after acquiring an additional 84 shares during the period. WR Wealth Planners LLC increased its position in Tenet Healthcare by 2,836.4% in the fourth quarter. WR Wealth Planners LLC now owns 323 shares of the company's stock worth $41,000 after buying an additional 312 shares during the period. Smartleaf Asset Management LLC boosted its holdings in shares of Tenet Healthcare by 30.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 471 shares of the company's stock valued at $59,000 after acquiring an additional 110 shares during the period. Kestra Investment Management LLC acquired a new stake in shares of Tenet Healthcare in the 4th quarter worth about $60,000. Finally, Wilmington Savings Fund Society FSB grew its position in Tenet Healthcare by 1,352.8% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 523 shares of the company's stock worth $66,000 after purchasing an additional 487 shares during the last quarter. 95.44% of the stock is currently owned by institutional investors.

Tenet Healthcare Stock Up 1.2 %

Shares of NYSE THC traded up $1.70 during trading hours on Wednesday, hitting $140.05. The stock had a trading volume of 765,818 shares, compared to its average volume of 1,532,155. 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 company has a market capitalization of $13.22 billion, a P/E ratio of 4.35, a P/E/G ratio of 1.02 and a beta of 1.77. Tenet Healthcare Co. has a 52 week low of $109.82 and a 52 week high of $171.20. The firm's 50-day moving average price is $126.28 and its two-hundred day moving average price is $136.58.

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

Wall Street Analyst Weigh In

THC has been the subject of a number of recent analyst reports. Barclays decreased their price objective on Tenet Healthcare from $190.00 to $161.00 and set an "overweight" rating for the company in a report on Thursday, February 13th. Guggenheim began coverage on shares of Tenet Healthcare in a research note on Wednesday, April 9th. They set a "buy" rating and a $165.00 price objective on the stock. Truist Financial lowered their target price on shares of Tenet Healthcare from $190.00 to $175.00 and set a "buy" rating on the stock in a research note on Monday, January 6th. KeyCorp cut their target price on Tenet Healthcare from $200.00 to $185.00 and set an "overweight" rating for the company in a research report on Tuesday, January 7th. Finally, StockNews.com raised Tenet Healthcare from a "hold" rating to a "buy" rating in a research note on Thursday, March 13th. Five equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $166.17.

Insider Buying and Selling

In related 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 completion of the sale, the director now owns 27,378 shares in the company, valued at $3,434,022.54. This represents a 25.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.81% of the stock is owned by 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.