Empirical Finance LLC Has $1.06 Million Stock Holdings in Tenet Healthcare Co. (NYSE:THC)

Empirical Finance LLC increased its holdings in Tenet Healthcare Co. (NYSE:THC) by 69.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 8,360 shares of the company’s stock after buying an additional 3,414 shares during the quarter. Empirical Finance LLC’s holdings in Tenet Healthcare were worth $1,055,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in THC. FMR LLC boosted its position in Tenet Healthcare by 88.0% in the third quarter. FMR LLC now owns 7,700,693 shares of the company’s stock valued at $1,279,855,000 after buying an additional 3,604,161 shares in the last quarter. Geode Capital Management LLC grew its position in Tenet Healthcare by 23.6% during the 3rd quarter. Geode Capital Management LLC now owns 2,044,667 shares of the company’s stock worth $339,893,000 after acquiring an additional 390,316 shares during the last quarter. Iron Triangle Partners LP acquired a new position in Tenet Healthcare in the third quarter worth $51,346,000. Allspring Global Investments Holdings LLC increased its stake in shares of Tenet Healthcare by 344.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 317,198 shares of the company’s stock valued at $52,718,000 after buying an additional 245,875 shares in the last quarter. Finally, Point72 Asset Management L.P. lifted its position in Tenet Healthcare by 32.0% during the 3rd quarter. Point72 Asset Management L.P. now owns 442,949 shares of the company’s stock worth $73,618,000 after buying an additional 107,290 shares in the last quarter. 95.44% of the stock is owned by institutional investors and hedge funds.

Tenet Healthcare Stock Performance

THC stock opened at $139.61 on Tuesday. The firm has a market cap of $13.28 billion, a PE ratio of 4.47, a P/E/G ratio of 0.63 and a beta of 2.05. The company has a current ratio of 1.58, a quick ratio of 1.52 and a debt-to-equity ratio of 2.35. The business’s 50-day moving average price is $133.91 and its two-hundred day moving average price is $148.62. Tenet Healthcare Co. has a 1-year low of $86.90 and a 1-year high of $171.20.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. StockNews.com downgraded shares of Tenet Healthcare from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, December 17th. Royal Bank of Canada increased their price objective on Tenet Healthcare from $174.00 to $183.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $175.00 price target on shares of Tenet Healthcare in a research note on Tuesday, December 17th. Raymond James cut Tenet Healthcare from a “strong-buy” rating to an “outperform” rating and set a $195.00 price objective for the company. in a report on Friday, November 22nd. Finally, Wells Fargo & Company cut shares of Tenet Healthcare from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $205.00 to $150.00 in a research report on Monday, November 25th. Three analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $165.00.

Tenet Healthcare 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.