Los Angeles Capital Management LLC Grows Stock Position in Tenet Healthcare Co. (NYSE:THC)

Los Angeles Capital Management LLC grew its holdings in shares of Tenet Healthcare Co. (NYSE:THC) by 396.9% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 111,781 shares of the company’s stock after purchasing an additional 89,287 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Tenet Healthcare were worth $14,110,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Plato Investment Management Ltd bought a new position in shares of Tenet Healthcare during the 3rd quarter valued at approximately $28,000. True Wealth Design LLC bought a new position in shares of Tenet Healthcare during the 3rd quarter valued at approximately $38,000. Kestra Investment Management LLC bought a new position in shares of Tenet Healthcare during the 4th quarter valued at approximately $60,000. Wilmington Savings Fund Society FSB grew its stake in shares of Tenet Healthcare by 1,352.8% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 523 shares of the company’s stock valued at $66,000 after acquiring an additional 487 shares during the period. Finally, Spire Wealth Management grew its stake in shares of Tenet Healthcare by 19.5% during the 4th quarter. Spire Wealth Management now owns 558 shares of the company’s stock valued at $70,000 after acquiring an additional 91 shares during the period. 95.44% of the stock is currently owned by institutional investors.

Tenet Healthcare Stock Performance

NYSE:THC opened at $134.82 on Wednesday. The stock’s fifty day moving average is $132.90 and its 200 day moving average is $147.47. Tenet Healthcare Co. has a fifty-two week low of $88.98 and a fifty-two week high of $171.20. The firm has a market capitalization of $12.82 billion, a PE ratio of 4.18, a PEG ratio of 1.02 and a beta of 2.05. The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.70 and a current ratio of 1.78.

Tenet Healthcare (NYSE:THC) last released its quarterly earnings results on Wednesday, February 12th. The company reported $3.44 earnings per share for the quarter, beating the consensus estimate of $2.95 by $0.49. Tenet Healthcare had a return on equity of 21.88% and a net margin of 15.48%. On average, sell-side analysts anticipate that Tenet Healthcare Co. will post 12.24 earnings per share for the current year.

Wall Street Analysts Forecast Growth

THC has been the subject of several recent analyst reports. Truist Financial dropped their price target 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. StockNews.com upgraded Tenet Healthcare from a “hold” rating to a “buy” rating in a research note on Tuesday. Royal Bank of Canada upped their price target on Tenet Healthcare from $174.00 to $183.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. UBS Group upped their price target on Tenet Healthcare from $197.00 to $217.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, Raymond James downgraded Tenet Healthcare from a “strong-buy” rating to an “outperform” rating and set a $195.00 price target for the company. in a research note on Friday, November 22nd. Three analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company 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.