Assenagon Asset Management S.A. Raises Stock Position in Tenet Healthcare Co. (NYSE:THC)

Assenagon Asset Management S.A. grew its holdings in Tenet Healthcare Co. (NYSE:THC) by 30.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 247,649 shares of the company’s stock after buying an additional 58,390 shares during the period. Assenagon Asset Management S.A. owned approximately 0.24% of Tenet Healthcare worth $18,715,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Nordea Investment Management AB grew its stake in shares of Tenet Healthcare by 324.3% in the 4th quarter. Nordea Investment Management AB now owns 40,066 shares of the company’s stock worth $3,030,000 after buying an additional 30,623 shares in the last quarter. First Eagle Investment Management LLC lifted its holdings in shares of Tenet Healthcare by 37.3% in the 3rd quarter. First Eagle Investment Management LLC now owns 176,404 shares of the company’s stock worth $11,623,000 after acquiring an additional 47,952 shares during the last quarter. Simplicity Solutions LLC bought a new stake in shares of Tenet Healthcare in the 3rd quarter worth about $5,664,000. TD Asset Management Inc bought a new stake in shares of Tenet Healthcare in the 3rd quarter worth about $1,146,000. Finally, Vanguard Group Inc. lifted its holdings in shares of Tenet Healthcare by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 10,937,483 shares of the company’s stock worth $720,671,000 after acquiring an additional 63,253 shares during the last quarter. 95.44% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Paola M. Arbour sold 18,168 shares of the company’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $96.96, for a total value of $1,761,569.28. Following the sale, the executive vice president now directly owns 29,803 shares of the company’s stock, valued at approximately $2,889,698.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Paola M. Arbour sold 18,168 shares of the company’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $96.96, for a total value of $1,761,569.28. Following the sale, the executive vice president now directly owns 29,803 shares of the company’s stock, valued at approximately $2,889,698.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard W. Fisher sold 2,100 shares of the business’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $88.21, for a total transaction of $185,241.00. Following the completion of the transaction, the director now owns 20,127 shares of the company’s stock, valued at $1,775,402.67. The disclosure for this sale can be found here. Insiders have sold 51,268 shares of company stock valued at $4,944,810 in the last ninety days. Insiders own 1.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on THC shares. Wells Fargo & Company lifted their price objective on shares of Tenet Healthcare from $98.00 to $105.00 and gave the company an “overweight” rating in a report on Thursday, February 15th. Truist Financial lifted their price objective on shares of Tenet Healthcare from $92.00 to $105.00 and gave the company a “buy” rating in a report on Friday, February 9th. StockNews.com upgraded shares of Tenet Healthcare from a “hold” rating to a “buy” rating in a report on Saturday, December 16th. Wolfe Research upgraded shares of Tenet Healthcare from a “peer perform” rating to an “outperform” rating and set a $122.00 price objective for the company in a report on Wednesday. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $104.00 price target on shares of Tenet Healthcare in a report on Tuesday, March 5th. One investment analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $96.94.

Tenet Healthcare Stock Up 2.5 %

NYSE:THC opened at $104.84 on Thursday. The company has a market cap of $10.48 billion, a PE ratio of 18.36, a P/E/G ratio of 3.21 and a beta of 2.07. Tenet Healthcare Co. has a twelve month low of $51.04 and a twelve month high of $107.80. The company has a current ratio of 1.51, a quick ratio of 1.42 and a debt-to-equity ratio of 4.77. The company’s 50 day moving average is $92.12 and its two-hundred day moving average is $75.50.

Tenet Healthcare (NYSE:THC) last released its earnings results on Thursday, February 8th. The company reported $2.68 earnings per share for the quarter, topping the consensus estimate of $1.58 by $1.10. The company had revenue of $5.38 billion for the quarter, compared to the consensus estimate of $5.28 billion. Tenet Healthcare had a net margin of 2.97% and a return on equity of 26.34%. Tenet Healthcare’s revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.96 EPS. Analysts anticipate that Tenet Healthcare Co. will post 6.09 EPS for the current year.

Tenet Healthcare Company Profile

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.