Thrivent Financial for Lutherans Purchases 20,754 Shares of Tenet Healthcare Corporation $THC

Thrivent Financial for Lutherans increased its position in shares of Tenet Healthcare Corporation (NYSE:THC) by 28.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 94,439 shares of the company’s stock after buying an additional 20,754 shares during the period. Thrivent Financial for Lutherans owned 0.11% of Tenet Healthcare worth $19,175,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new position in Tenet Healthcare in the second quarter valued at approximately $206,981,000. Boston Partners lifted its position in shares of Tenet Healthcare by 95.0% during the 2nd quarter. Boston Partners now owns 2,267,142 shares of the company’s stock valued at $398,949,000 after acquiring an additional 1,104,500 shares during the period. Alliancebernstein L.P. boosted its stake in Tenet Healthcare by 375.7% during the second quarter. Alliancebernstein L.P. now owns 790,254 shares of the company’s stock worth $139,085,000 after acquiring an additional 624,125 shares in the last quarter. Holocene Advisors LP bought a new position in shares of Tenet Healthcare during the 2nd quarter worth about $102,855,000. Finally, Assenagon Asset Management S.A. boosted its holdings in Tenet Healthcare by 331.1% in the third quarter. Assenagon Asset Management S.A. now owns 363,754 shares of the company’s stock worth $73,857,000 after acquiring an additional 279,377 shares in the last quarter. Institutional investors own 95.44% of the company’s stock.

Insider Activity

In related news, Director Nadja West sold 2,178 shares of the company’s stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $197.47, for a total transaction of $430,089.66. Following the sale, the director directly owned 28,480 shares in the company, valued at approximately $5,623,945.60. This represents a 7.10% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider R. Scott Ramsey sold 13,322 shares of the business’s stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $205.11, for a total transaction of $2,732,475.42. The SEC filing for this sale provides additional information. 0.81% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently commented on THC. The Goldman Sachs Group began coverage on Tenet Healthcare in a report on Tuesday, October 14th. They set a “buy” rating and a $224.00 price objective for the company. Cantor Fitzgerald raised their price target on shares of Tenet Healthcare from $190.00 to $245.00 and gave the company an “overweight” rating in a research report on Wednesday, October 29th. Wall Street Zen raised Tenet Healthcare from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Guggenheim upped their price target on Tenet Healthcare from $238.00 to $257.00 and gave the stock a “buy” rating in a report on Tuesday, December 2nd. Finally, Weiss Ratings upgraded shares of Tenet Healthcare from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $233.88.

Tenet Healthcare Stock Performance

Shares of THC opened at $193.32 on Wednesday. Tenet Healthcare Corporation has a 1 year low of $109.82 and a 1 year high of $222.82. The company has a debt-to-equity ratio of 2.27, a current ratio of 1.71 and a quick ratio of 1.64. The stock’s fifty day moving average price is $199.86 and its two-hundred day moving average price is $192.38. The firm has a market cap of $16.99 billion, a PE ratio of 13.25, a PEG ratio of 0.80 and a beta of 1.44.

About Tenet Healthcare

Tenet Healthcare Corporation (NYSE: THC) is a diversified American healthcare services company that owns and operates acute care hospitals and a broad range of outpatient facilities. Its portfolio includes general acute-care hospitals, specialty hospitals, ambulatory surgery centers, urgent care and diagnostic imaging centers, and other ancillary service locations. Tenet’s operations are oriented around delivering inpatient and outpatient clinical care across multiple medical specialties, with an emphasis on surgical services, emergency care, and advanced diagnostics.

In addition to facility-based care, Tenet provides integrated services designed to support clinical operations and improve patient access and care coordination.