Bellevue Group AG Acquires 104,605 Shares of Tenet Healthcare Co. (NYSE:THC)

Bellevue Group AG grew its holdings in shares of Tenet Healthcare Co. (NYSE:THC) by 1,859.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 110,230 shares of the company’s stock after buying an additional 104,605 shares during the period. Bellevue Group AG’s holdings in Tenet Healthcare were worth $13,914,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in THC. Franklin Resources Inc. lifted its position 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 worth $71,077,000 after purchasing an additional 48,580 shares during the period. B. Riley Wealth Advisors Inc. boosted its position in Tenet Healthcare by 101.3% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 7,894 shares of the company’s stock valued at $1,281,000 after acquiring an additional 3,973 shares in the last quarter. Nordea Investment Management AB lifted its stake in shares of Tenet Healthcare by 13.5% in the 4th quarter. Nordea Investment Management AB now owns 83,793 shares of the company’s stock valued at $10,577,000 after purchasing an additional 9,946 shares during the period. CWA Asset Management Group LLC bought a new stake in shares of Tenet Healthcare during the fourth quarter valued at approximately $1,758,000. Finally, Oliver Luxxe Assets LLC grew its stake in Tenet Healthcare by 12.9% in the fourth quarter. Oliver Luxxe Assets LLC now owns 5,628 shares of the company’s stock worth $710,000 after purchasing an additional 643 shares during the period. Hedge funds and other institutional investors own 95.44% of the company’s stock.

Tenet Healthcare Stock Performance

THC stock opened at $148.21 on Friday. The company has a market cap of $13.99 billion, a P/E ratio of 4.60, a price-to-earnings-growth ratio of 1.02 and a beta of 1.77. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.78 and a quick ratio of 1.70. Tenet Healthcare Co. has a 1 year low of $109.82 and a 1 year high of $171.20. The stock’s fifty day moving average price is $127.09 and its 200-day moving average price is $136.28.

Tenet Healthcare (NYSE:THC) last released its quarterly earnings results on Tuesday, April 29th. The company reported $4.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.11 by $1.25. The business had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $5.15 billion. Tenet Healthcare had a return on equity of 21.88% and a net margin of 15.48%. The business’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same period in the previous year, the company posted $3.22 EPS. On average, equities analysts forecast that Tenet Healthcare Co. will post 12.24 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director J Robert Kerrey sold 9,525 shares of Tenet Healthcare stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $125.43, for a total transaction of $1,194,720.75. Following the transaction, the director now directly owns 27,378 shares in the company, valued at approximately $3,434,022.54. The trade was a 25.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.81% of the company’s stock.

Analyst Ratings Changes

THC has been the topic of a number of recent research reports. Baird R W downgraded shares of Tenet Healthcare from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 15th. KeyCorp lowered their target price on shares of Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Truist Financial cut 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. Cantor Fitzgerald reissued an “overweight” rating and issued a $177.00 target price on shares of Tenet Healthcare in a report on Thursday, February 13th. Finally, Morgan Stanley initiated coverage on Tenet Healthcare in a research report on Wednesday, March 26th. They issued an “overweight” rating and a $165.00 price target for the company. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $172.19.

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.