Tenet Healthcare Co. (NYSE:THC) Shares Bought by Inspire Investing LLC

Inspire Investing LLC boosted its stake in shares of Tenet Healthcare Co. (NYSE:THC) by 25.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,496 shares of the company’s stock after acquiring an additional 1,326 shares during the quarter. Inspire Investing LLC’s holdings in Tenet Healthcare were worth $820,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in THC. Legacy Capital Group California Inc. acquired a new stake in shares of Tenet Healthcare in the 3rd quarter valued at approximately $1,055,000. Signet Financial Management LLC acquired a new stake in shares of Tenet Healthcare in the 4th quarter valued at approximately $1,526,000. Intech Investment Management LLC lifted its holdings in shares of Tenet Healthcare by 44.4% in the 3rd quarter. Intech Investment Management LLC now owns 79,266 shares of the company’s stock valued at $13,174,000 after buying an additional 24,385 shares during the period. Swiss National Bank lifted its holdings in shares of Tenet Healthcare by 8.7% in the 3rd quarter. Swiss National Bank now owns 190,800 shares of the company’s stock valued at $31,711,000 after buying an additional 15,200 shares during the period. Finally, Estate Counselors LLC acquired a new stake in shares of Tenet Healthcare in the 3rd quarter valued at approximately $1,792,000. 95.44% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently commented on THC shares. Cantor Fitzgerald raised their price target on Tenet Healthcare from $168.00 to $177.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Wells Fargo & Company downgraded Tenet Healthcare from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $205.00 to $150.00 in a research note on Monday, November 25th. Truist Financial dropped their price objective 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. Barclays raised their price objective on Tenet Healthcare from $171.00 to $190.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Finally, KeyCorp dropped their price objective on Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Three equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $165.00.

Insider Activity at Tenet Healthcare

In related news, EVP Lisa Y. Foo sold 4,000 shares of Tenet Healthcare stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $155.94, for a total value of $623,760.00. Following the transaction, the executive vice president now owns 15,566 shares in the company, valued at approximately $2,427,362.04. This trade represents a 20.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.93% of the stock is owned by insiders.

Tenet Healthcare Price Performance

Shares of NYSE:THC opened at $135.50 on Friday. The company has a market cap of $12.89 billion, a P/E ratio of 4.34, a P/E/G ratio of 0.60 and a beta of 2.06. The company has a quick ratio of 1.52, a current ratio of 1.58 and a debt-to-equity ratio of 2.35. Tenet Healthcare Co. has a 52 week low of $80.53 and a 52 week high of $171.20. The business has a fifty day simple moving average of $134.94 and a 200-day simple moving average of $147.98.

Tenet Healthcare (NYSE:THC) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $2.93 EPS for the quarter, beating analysts’ consensus estimates of $2.33 by $0.60. The business had revenue of $5.12 billion during the quarter, compared to the consensus estimate of $5.05 billion. Tenet Healthcare had a return on equity of 24.05% and a net margin of 14.91%. The business’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.44 earnings per share. Equities research analysts forecast that Tenet Healthcare Co. will post 11.37 EPS for the current year.

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.