Prudential Financial Inc. Grows Stock Holdings in Tenet Healthcare Co. (NYSE:THC)

Prudential Financial Inc. lifted its holdings in shares of Tenet Healthcare Co. (NYSE:THC) by 8.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 121,509 shares of the company’s stock after purchasing an additional 9,602 shares during the quarter. Prudential Financial Inc. owned about 0.13% of Tenet Healthcare worth $15,338,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Coldstream Capital Management Inc. grew its holdings in Tenet Healthcare by 2.2% in the 3rd quarter. Coldstream Capital Management Inc. now owns 3,406 shares of the company’s stock valued at $566,000 after buying an additional 74 shares during the period. EverSource Wealth Advisors LLC increased its position in Tenet Healthcare by 9.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 940 shares of the company’s stock worth $119,000 after purchasing an additional 80 shares during the last quarter. Spire Wealth Management raised its stake in Tenet Healthcare by 19.5% during the fourth quarter. Spire Wealth Management now owns 558 shares of the company’s stock worth $70,000 after purchasing an additional 91 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in shares of Tenet Healthcare by 1.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 8,109 shares of the company’s stock valued at $1,024,000 after buying an additional 100 shares during the period. Finally, Smartleaf Asset Management LLC increased its holdings in shares of Tenet Healthcare by 30.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 471 shares of the company’s stock worth $59,000 after buying an additional 110 shares during the last quarter. 95.44% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

THC has been the subject of a number of research reports. Truist Financial lowered their price target on Tenet Healthcare from $190.00 to $175.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Morgan Stanley began coverage on shares of Tenet Healthcare in a research report on Wednesday. They set an “overweight” rating and a $165.00 target price for the company. The Goldman Sachs Group downgraded shares of Tenet Healthcare from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $196.00 to $140.00 in a research note on Monday, December 16th. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $175.00 target price on shares of Tenet Healthcare in a research note on Tuesday, December 17th. Finally, KeyCorp lowered their price target on Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Three research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $166.41.

Tenet Healthcare Stock Up 1.0 %

Shares of NYSE:THC opened at $134.41 on Friday. Tenet Healthcare Co. has a 12-month low of $90.03 and a 12-month high of $171.20. The company has a current ratio of 1.78, a quick ratio of 1.70 and a debt-to-equity ratio of 2.25. The firm has a market cap of $12.79 billion, a PE ratio of 4.17, a price-to-earnings-growth ratio of 1.02 and a beta of 2.06. The company has a fifty day simple moving average of $132.38 and a 200 day simple moving average of $142.64.

Tenet Healthcare (NYSE:THC) last issued its earnings results on Wednesday, February 12th. The company reported $3.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.95 by $0.49. Tenet Healthcare had a net margin of 15.48% and a return on equity of 21.88%. On average, equities research analysts anticipate that Tenet Healthcare Co. will post 12.24 EPS for the current fiscal year.

Insider Transactions at Tenet Healthcare

In other Tenet Healthcare news, Director J Robert Kerrey sold 9,525 shares of the firm’s stock in a transaction dated 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 transaction, the director now owns 27,378 shares of the company’s stock, valued at $3,434,022.54. This trade represents a 25.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.93% of the company’s stock.

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.