Xponance Inc. Acquires 147 Shares of Tenet Healthcare Co. (NYSE:THC)

Xponance Inc. boosted its position in Tenet Healthcare Co. (NYSE:THC) by 1.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,337 shares of the company’s stock after buying an additional 147 shares during the period. Xponance Inc.’s holdings in Tenet Healthcare were worth $932,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Tenet Healthcare by 5.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,041 shares of the company’s stock worth $1,514,000 after purchasing an additional 1,075 shares during the period. Phocas Financial Corp. boosted its position in Tenet Healthcare by 1.8% in the 4th quarter. Phocas Financial Corp. now owns 123,456 shares of the company’s stock worth $9,330,000 after purchasing an additional 2,192 shares in the last quarter. Louisiana State Employees Retirement System acquired a new position in shares of Tenet Healthcare in the 4th quarter valued at $2,154,000. Crestwood Advisors Group LLC acquired a new position in shares of Tenet Healthcare in the fourth quarter worth about $201,000. Finally, Simplicity Solutions LLC increased its stake in shares of Tenet Healthcare by 6.0% in the 4th quarter. Simplicity Solutions LLC now owns 91,159 shares of the company’s stock valued at $6,889,000 after purchasing an additional 5,198 shares in the last quarter. 95.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on THC shares. Deutsche Bank Aktiengesellschaft upped their target price on Tenet Healthcare from $100.00 to $126.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. TheStreet upgraded Tenet Healthcare from a “c+” rating to a “b-” rating in a research report on Tuesday, February 6th. Wells Fargo & Company raised their price target on shares of Tenet Healthcare from $105.00 to $115.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Wolfe Research raised Tenet Healthcare from a “peer perform” rating to an “outperform” rating and set a $122.00 price objective for the company in a research report on Wednesday, March 27th. Finally, Truist Financial boosted their target price on Tenet Healthcare from $92.00 to $105.00 and gave the company a “buy” rating in a research report on Friday, February 9th. One equities research analyst has rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $100.38.

Tenet Healthcare Price Performance

THC stock opened at $97.50 on Friday. The stock has a market capitalization of $9.67 billion, a price-to-earnings ratio of 17.08, a price-to-earnings-growth ratio of 3.15 and a beta of 2.08. The stock’s fifty day simple moving average is $98.11 and its 200-day simple moving average is $80.17. The company has a quick ratio of 1.42, a current ratio of 1.51 and a debt-to-equity ratio of 4.77. Tenet Healthcare Co. has a 52-week low of $51.04 and a 52-week high of $107.80.

Tenet Healthcare (NYSE:THC) last released its quarterly earnings results on Thursday, February 8th. The company reported $2.68 EPS for the quarter, topping the consensus estimate of $1.58 by $1.10. The business had revenue of $5.38 billion for the quarter, compared to analysts’ expectations of $5.28 billion. Tenet Healthcare had a return on equity of 26.34% and a net margin of 2.97%. The company’s revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.96 earnings per share. Equities research analysts expect that Tenet Healthcare Co. will post 6.3 EPS for the current year.

Insider Activity at Tenet Healthcare

In other Tenet Healthcare news, Director Richard W. Fisher sold 2,100 shares of the stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $88.21, for a total transaction of $185,241.00. Following the transaction, the director now owns 20,127 shares of the company’s stock, valued at approximately $1,775,402.67. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, Director Richard W. Fisher sold 2,100 shares of the firm’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $88.21, for a total transaction of $185,241.00. Following the transaction, the director now directly owns 20,127 shares in the company, valued at $1,775,402.67. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard J. Mark sold 14,000 shares of Tenet Healthcare stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $98.98, for a total transaction of $1,385,720.00. Following the completion of the transaction, the director now directly owns 33,303 shares of the company’s stock, valued at $3,296,330.94. The disclosure for this sale can be found here. Insiders sold a total of 51,268 shares of company stock valued at $4,944,810 over the last three months. 0.93% 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.