Tenet Healthcare Co. (NYSE:THC) Shares Bought by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans raised its position in shares of Tenet Healthcare Co. (NYSE:THC) by 31.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 48,982 shares of the company’s stock after purchasing an additional 11,825 shares during the period. Thrivent Financial for Lutherans owned 0.05% of Tenet Healthcare worth $6,433,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of THC. FMR LLC grew its holdings in Tenet Healthcare by 88.0% in the 3rd quarter. FMR LLC now owns 7,700,693 shares of the company’s stock worth $1,279,855,000 after buying an additional 3,604,161 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Tenet Healthcare by 23.6% in the third quarter. Geode Capital Management LLC now owns 2,044,667 shares of the company’s stock worth $339,893,000 after purchasing an additional 390,316 shares in the last quarter. Allianz Asset Management GmbH raised its stake in shares of Tenet Healthcare by 15.1% during the fourth quarter. Allianz Asset Management GmbH now owns 577,143 shares of the company’s stock valued at $72,853,000 after purchasing an additional 75,688 shares in the last quarter. Wealthfront Advisers LLC acquired a new stake in Tenet Healthcare in the fourth quarter worth about $69,059,000. Finally, Victory Capital Management Inc. increased its stake in Tenet Healthcare by 68.9% during the 4th quarter. Victory Capital Management Inc. now owns 507,055 shares of the company’s stock valued at $64,006,000 after buying an additional 206,907 shares during the period. Institutional investors own 95.44% of the company’s stock.

Tenet Healthcare Price Performance

Shares of NYSE:THC opened at $122.87 on Monday. The company has a market cap of $11.69 billion, a P/E ratio of 3.81, a price-to-earnings-growth ratio of 1.02 and a beta of 2.06. The company’s fifty day moving average is $132.20 and its two-hundred day moving average is $143.15. The company has a quick ratio of 1.70, a current ratio of 1.78 and a debt-to-equity ratio of 2.25. Tenet Healthcare Co. has a 12-month low of $90.03 and a 12-month high of $171.20.

Tenet Healthcare (NYSE:THC) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $3.44 EPS for the quarter, topping analysts’ consensus estimates of $2.95 by $0.49. Tenet Healthcare had a return on equity of 21.88% and a net margin of 15.48%. Equities analysts expect that Tenet Healthcare Co. will post 12.24 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director J Robert Kerrey sold 9,525 shares of the company’s stock in a transaction on 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 directly owns 27,378 shares of the company’s stock, valued at approximately $3,434,022.54. This represents a 25.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.93% of the company’s stock.

Analyst Ratings Changes

THC has been the subject of a number of research analyst reports. Wells Fargo & Company lowered shares of Tenet Healthcare from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $205.00 to $150.00 in a research note on Monday, November 25th. Barclays decreased their price target on Tenet Healthcare from $190.00 to $161.00 and set an “overweight” rating for the company in a research note on Thursday, February 13th. The Goldman Sachs Group downgraded Tenet Healthcare from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $196.00 to $140.00 in a research note on Monday, December 16th. Truist Financial decreased 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 dropped their price target on shares of Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Three analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Tenet Healthcare presently has a consensus rating of “Moderate Buy” and an average target price of $163.88.

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.