Swedbank AB Purchases 20,000 Shares of Tenet Healthcare Co. (NYSE:THC)

Swedbank AB raised its holdings in Tenet Healthcare Co. (NYSE:THC) by 100.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 40,000 shares of the company’s stock after buying an additional 20,000 shares during the quarter. Swedbank AB’s holdings in Tenet Healthcare were worth $5,049,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Plato Investment Management Ltd acquired a new position in Tenet Healthcare in the third quarter worth about $28,000. ORG Wealth Partners LLC bought a new position in shares of Tenet Healthcare during the 3rd quarter worth approximately $30,000. Financial Management Professionals Inc. boosted its stake in Tenet Healthcare by 2,222.2% in the 3rd quarter. Financial Management Professionals Inc. now owns 209 shares of the company’s stock valued at $35,000 after buying an additional 200 shares in the last quarter. True Wealth Design LLC acquired a new position in Tenet Healthcare during the third quarter worth $38,000. Finally, Hantz Financial Services Inc. acquired a new stake in shares of Tenet Healthcare in the 3rd quarter valued at $83,000. 95.44% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on THC. Barclays lifted their price target on shares of Tenet Healthcare from $171.00 to $190.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Wells Fargo & Company lowered Tenet Healthcare from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $205.00 to $150.00 in a research report on Monday, November 25th. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $175.00 price objective on shares of Tenet Healthcare in a research note on Tuesday, December 17th. Truist Financial lowered their target price on Tenet Healthcare from $190.00 to $175.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Finally, KeyCorp decreased their price objective on shares of Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Three equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $165.00.

Tenet Healthcare Trading Down 1.7 %

NYSE:THC opened at $140.73 on Friday. The firm has a market capitalization of $13.38 billion, a price-to-earnings ratio of 4.51, a PEG ratio of 0.63 and a beta of 2.06. Tenet Healthcare Co. has a 1-year low of $82.15 and a 1-year high of $171.20. The business’s 50-day moving average price is $133.98 and its two-hundred day moving average price is $148.37. The company has a current ratio of 1.58, a quick ratio of 1.52 and a debt-to-equity ratio of 2.35.

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.