Wilmington Savings Fund Society FSB Grows Stock Position in Tenet Healthcare Co. (NYSE:THC)

Wilmington Savings Fund Society FSB increased its stake in shares of Tenet Healthcare Co. (NYSE:THC) by 1,352.8% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 523 shares of the company’s stock after acquiring an additional 487 shares during the period. Wilmington Savings Fund Society FSB’s holdings in Tenet Healthcare were worth $66,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in THC. Plato Investment Management Ltd acquired a new position in shares of Tenet Healthcare during the third quarter valued at $28,000. Financial Management Professionals Inc. boosted its position in shares of Tenet Healthcare by 2,222.2% during the 3rd quarter. Financial Management Professionals Inc. now owns 209 shares of the company’s stock valued at $35,000 after purchasing an additional 200 shares in the last quarter. True Wealth Design LLC purchased a new position in Tenet Healthcare in the 3rd quarter worth about $38,000. Hantz Financial Services Inc. purchased a new stake in shares of Tenet Healthcare in the 3rd quarter valued at approximately $83,000. Finally, Venturi Wealth Management LLC lifted its position in shares of Tenet Healthcare by 36.0% in the third quarter. Venturi Wealth Management LLC now owns 521 shares of the company’s stock worth $87,000 after purchasing an additional 138 shares in the last quarter. Hedge funds and other institutional investors own 95.44% of the company’s stock.

Tenet Healthcare Price Performance

Shares of THC opened at $133.02 on Friday. The company has a market capitalization of $12.65 billion, a price-to-earnings ratio of 4.26, a price-to-earnings-growth ratio of 0.63 and a beta of 2.05. Tenet Healthcare Co. has a 1 year low of $87.06 and a 1 year high of $171.20. The company has a debt-to-equity ratio of 2.35, a current ratio of 1.58 and a quick ratio of 1.52. The business has a 50-day moving average of $133.43 and a 200-day moving average of $148.26.

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, topping the consensus estimate of $2.95 by $0.49. Tenet Healthcare had a net margin of 14.91% and a return on equity of 24.05%. As a group, equities research analysts anticipate that Tenet Healthcare Co. will post 11.37 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on THC shares. StockNews.com lowered shares of Tenet Healthcare from a “buy” rating to a “hold” rating in a research note on Thursday. UBS Group raised their price target on shares of Tenet Healthcare from $197.00 to $217.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Wells Fargo & Company downgraded shares of Tenet Healthcare from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $205.00 to $150.00 in a report on Monday, November 25th. Truist Financial decreased their price target on Tenet Healthcare from $190.00 to $175.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Finally, Barclays dropped their price objective on shares of Tenet Healthcare from $190.00 to $161.00 and set an “overweight” rating for the company in a report on Thursday. Four research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $163.19.

About Tenet Healthcare

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.