Allspring Global Investments Holdings LLC Sells 16,419 Shares of Tenet Healthcare Co. (NYSE:THC)

Allspring Global Investments Holdings LLC trimmed its position in shares of Tenet Healthcare Co. (NYSE:THC) by 5.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 300,779 shares of the company’s stock after selling 16,419 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Tenet Healthcare were worth $37,689,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Coldstream Capital Management Inc. grew its stake in shares of Tenet Healthcare by 2.2% during the 3rd quarter. Coldstream Capital Management Inc. now owns 3,406 shares of the company’s stock valued at $566,000 after purchasing an additional 74 shares during the period. Spire Wealth Management increased its position in Tenet Healthcare by 19.5% in the fourth quarter. Spire Wealth Management now owns 558 shares of the company’s stock worth $70,000 after buying an additional 91 shares in the last quarter. Optas LLC lifted its position in shares of Tenet Healthcare by 3.4% during the 3rd quarter. Optas LLC now owns 2,821 shares of the company’s stock valued at $469,000 after buying an additional 93 shares in the last quarter. Signaturefd LLC increased its holdings in Tenet Healthcare by 17.6% in the 3rd quarter. Signaturefd LLC now owns 628 shares of the company’s stock worth $104,000 after acquiring an additional 94 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its position in shares of Tenet Healthcare by 3.4% in the third quarter. CIBC Asset Management Inc now owns 2,887 shares of the company’s stock worth $480,000 after purchasing an additional 94 shares during the period. Institutional investors own 95.44% of the company’s stock.

Tenet Healthcare Stock Performance

Shares of Tenet Healthcare stock opened at $133.40 on Friday. The company has a market capitalization of $12.69 billion, a PE ratio of 4.27, a price-to-earnings-growth ratio of 0.63 and a beta of 2.05. Tenet Healthcare Co. has a 52 week low of $88.57 and a 52 week high of $171.20. The company has a quick ratio of 1.52, a current ratio of 1.58 and a debt-to-equity ratio of 2.35. The stock’s fifty day moving average is $133.32 and its two-hundred day moving average is $148.13.

Tenet Healthcare (NYSE:THC) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $3.44 earnings per share for the quarter, beating analysts’ consensus estimates 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, analysts expect that Tenet Healthcare Co. will post 11.37 earnings per share for the current year.

Wall Street Analysts Forecast Growth

THC has been the topic of a number of analyst reports. Wells Fargo & Company cut shares of 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. The Goldman Sachs Group cut shares of Tenet Healthcare from a “buy” rating to a “neutral” rating and cut their target price for the company from $196.00 to $140.00 in a research note on Monday, December 16th. Royal Bank of Canada increased their price objective on shares of Tenet Healthcare from $174.00 to $183.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Truist Financial decreased their target price on Tenet Healthcare from $190.00 to $175.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Finally, Raymond James downgraded Tenet Healthcare from a “strong-buy” rating to an “outperform” rating and set a $195.00 price objective on the stock. in a research note on Friday, November 22nd. Four research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Tenet Healthcare currently has an average rating of “Moderate Buy” and an average price target 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.