Thrivent Financial for Lutherans Has $6.43 Million Stock Position in Tenet Healthcare Co. (NYSE:THC)

Thrivent Financial for Lutherans increased its holdings in Tenet Healthcare Co. (NYSE:THC) by 31.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 48,982 shares of the company’s stock after purchasing an additional 11,825 shares during the period. Thrivent Financial for Lutherans’ holdings in Tenet Healthcare were worth $6,433,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. FMR LLC increased its holdings in shares of Tenet Healthcare by 88.0% during the 3rd quarter. FMR LLC now owns 7,700,693 shares of the company’s stock valued at $1,279,855,000 after acquiring an additional 3,604,161 shares during the last quarter. Wealthfront Advisers LLC acquired a new position in Tenet Healthcare during the fourth quarter valued at approximately $69,059,000. Geode Capital Management LLC raised its position in shares of Tenet Healthcare by 23.6% in the third quarter. Geode Capital Management LLC now owns 2,044,667 shares of the company’s stock valued at $339,893,000 after purchasing an additional 390,316 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Tenet Healthcare during the 4th quarter worth $49,001,000. Finally, Iron Triangle Partners LP acquired a new position in Tenet Healthcare in the 3rd quarter valued at $51,346,000. 95.44% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Truist Financial decreased their price target on shares of Tenet Healthcare from $190.00 to $175.00 and set a “buy” rating for the company in a report on Monday, January 6th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $175.00 price target on shares of Tenet Healthcare in a research report on Tuesday, December 17th. Barclays reduced their price objective on Tenet Healthcare from $190.00 to $161.00 and set an “overweight” rating for the company in a research report on Thursday, February 13th. KeyCorp cut their target price on shares of Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Finally, TD Cowen initiated coverage on shares of Tenet Healthcare in a report on Wednesday, February 26th. They set a “buy” rating and a $175.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Tenet Healthcare currently has an average rating of “Moderate Buy” and a consensus target price of $163.88.

Tenet Healthcare Price Performance

Tenet Healthcare stock opened at $122.87 on Monday. The business has a 50 day simple moving average of $132.20 and a 200 day simple moving average of $143.15. Tenet Healthcare Co. has a one year low of $90.03 and a one year high of $171.20. The company has a market capitalization of $11.69 billion, a PE ratio of 3.81, a price-to-earnings-growth ratio of 1.02 and a beta of 2.06. 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 (NYSE:THC) last posted its earnings results on Wednesday, February 12th. The company reported $3.44 earnings per share for the quarter, topping the consensus estimate of $2.95 by $0.49. Tenet Healthcare had a net margin of 15.48% and a return on equity of 21.88%. On average, sell-side analysts forecast that Tenet Healthcare Co. will post 12.24 EPS for the current fiscal year.

Insider Transactions at Tenet Healthcare

In other Tenet Healthcare news, Director J Robert Kerrey sold 9,525 shares of the business’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $125.43, for a total value of $1,194,720.75. Following the transaction, the director now owns 27,378 shares of the company’s stock, 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 can be accessed through this hyperlink. 0.93% of the stock is owned by company insiders.

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.