Tenet Healthcare Co. (NYSE:THC) Shares Bought by abrdn plc

abrdn plc lifted its position in shares of Tenet Healthcare Co. (NYSE:THC) by 29.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 98,229 shares of the company’s stock after purchasing an additional 22,066 shares during the period. abrdn plc’s holdings in Tenet Healthcare were worth $12,320,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the business. FMR LLC boosted its holdings in shares of Tenet Healthcare by 88.0% in the 3rd quarter. FMR LLC now owns 7,700,693 shares of the company’s stock valued at $1,279,855,000 after buying an additional 3,604,161 shares in the last quarter. Geode Capital Management LLC boosted its stake in Tenet Healthcare by 23.6% in the third quarter. Geode Capital Management LLC now owns 2,044,667 shares of the company’s stock valued at $339,893,000 after acquiring an additional 390,316 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of Tenet Healthcare by 11.9% in the 3rd quarter. Franklin Resources Inc. now owns 457,704 shares of the company’s stock valued at $71,077,000 after purchasing an additional 48,580 shares during the last quarter. Point72 Asset Management L.P. grew its stake in Tenet Healthcare by 32.0% during the 3rd quarter. Point72 Asset Management L.P. now owns 442,949 shares of the company’s stock worth $73,618,000 after buying an additional 107,290 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in Tenet Healthcare by 344.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 317,198 shares of the company’s stock valued at $52,718,000 after buying an additional 245,875 shares during the last quarter. Hedge funds and other institutional investors own 95.44% of the company’s stock.

Tenet Healthcare Price Performance

THC stock opened at $140.63 on Friday. The company has a market cap of $13.37 billion, a price-to-earnings ratio of 4.51, a PEG ratio of 0.63 and a beta of 2.05. The company has a current ratio of 1.58, a quick ratio of 1.52 and a debt-to-equity ratio of 2.35. The firm has a 50 day moving average of $133.96 and a 200-day moving average of $148.59. Tenet Healthcare Co. has a 12-month low of $86.70 and a 12-month high of $171.20.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Barclays lifted their target price 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. StockNews.com downgraded shares of Tenet Healthcare from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, December 17th. UBS Group boosted their price target on Tenet Healthcare from $197.00 to $217.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Wells Fargo & Company downgraded Tenet Healthcare from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $205.00 to $150.00 in a research note on Monday, November 25th. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $175.00 price target on shares of Tenet Healthcare in a report on Tuesday, December 17th. 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 company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $165.00.

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.