Renaissance Group LLC Boosts Holdings in Tenet Healthcare Corporation $THC

Renaissance Group LLC lifted its stake in shares of Tenet Healthcare Corporation (NYSE:THC) by 200.9% in the third quarter, Holdings Channel reports. The firm owned 5,648 shares of the company’s stock after buying an additional 3,771 shares during the period. Renaissance Group LLC’s holdings in Tenet Healthcare were worth $1,147,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of THC. AlphaQuest LLC increased its position in Tenet Healthcare by 230.8% during the second quarter. AlphaQuest LLC now owns 1,763 shares of the company’s stock worth $310,000 after purchasing an additional 1,230 shares during the last quarter. WCM Investment Management LLC lifted its holdings in Tenet Healthcare by 244.4% in the third quarter. WCM Investment Management LLC now owns 510,224 shares of the company’s stock valued at $102,657,000 after acquiring an additional 362,083 shares during the last quarter. Winnow Wealth LLC purchased a new stake in Tenet Healthcare in the third quarter valued at $1,129,000. Cerity Partners LLC increased its position in shares of Tenet Healthcare by 10.4% during the 2nd quarter. Cerity Partners LLC now owns 120,623 shares of the company’s stock worth $21,230,000 after purchasing an additional 11,395 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC purchased a new position in Tenet Healthcare during the third quarter worth about $1,648,000. 95.44% of the stock is currently owned by institutional investors and hedge funds.

Tenet Healthcare Price Performance

Shares of THC opened at $201.60 on Friday. The firm has a market capitalization of $17.72 billion, a price-to-earnings ratio of 13.82, a PEG ratio of 0.85 and a beta of 1.44. The firm’s fifty day simple moving average is $198.59 and its 200-day simple moving average is $192.83. The company has a current ratio of 1.71, a quick ratio of 1.64 and a debt-to-equity ratio of 2.27. Tenet Healthcare Corporation has a twelve month low of $109.82 and a twelve month high of $222.82.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on THC. Raymond James Financial set a $245.00 price objective on shares of Tenet Healthcare in a research report on Wednesday, October 29th. The Goldman Sachs Group initiated coverage on Tenet Healthcare in a research note on Tuesday, October 14th. They set a “buy” rating and a $224.00 target price on the stock. Truist Financial reissued a “buy” rating and set a $240.00 price target (up previously from $225.00) on shares of Tenet Healthcare in a research report on Monday, November 3rd. Weiss Ratings raised shares of Tenet Healthcare from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, December 29th. Finally, JPMorgan Chase & Co. upped their price objective on Tenet Healthcare from $200.00 to $230.00 and gave the stock an “overweight” rating in a research report on Thursday, November 13th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $233.88.

Insider Activity at Tenet Healthcare

In other news, Director Nadja West sold 2,178 shares of the firm’s stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $197.47, for a total transaction of $430,089.66. Following the sale, the director owned 28,480 shares of the company’s stock, valued at approximately $5,623,945.60. This trade represents a 7.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.81% of the company’s stock.

Tenet Healthcare Profile

Tenet Healthcare Corporation (NYSE: THC) is a diversified American healthcare services company that owns and operates acute care hospitals and a broad range of outpatient facilities. Its portfolio includes general acute-care hospitals, specialty hospitals, ambulatory surgery centers, urgent care and diagnostic imaging centers, and other ancillary service locations. Tenet’s operations are oriented around delivering inpatient and outpatient clinical care across multiple medical specialties, with an emphasis on surgical services, emergency care, and advanced diagnostics.

In addition to facility-based care, Tenet provides integrated services designed to support clinical operations and improve patient access and care coordination.