Tenet Healthcare Co. (NYSE:THC) Shares Bought by Sei Investments Co.

Sei Investments Co. increased its position in shares of Tenet Healthcare Co. (NYSE:THC) by 8.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 243,425 shares of the company’s stock after acquiring an additional 18,077 shares during the quarter. Sei Investments Co. owned approximately 0.26% of Tenet Healthcare worth $30,726,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the company. True Wealth Design LLC purchased a new stake in Tenet Healthcare in the 3rd quarter valued at about $38,000. WR Wealth Planners LLC increased its holdings in Tenet Healthcare by 2,836.4% in the 4th quarter. WR Wealth Planners LLC now owns 323 shares of the company’s stock valued at $41,000 after purchasing an additional 312 shares during the last quarter. Smartleaf Asset Management LLC lifted its stake in Tenet Healthcare by 30.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 471 shares of the company’s stock worth $59,000 after purchasing an additional 110 shares in the last quarter. Kestra Investment Management LLC acquired a new stake in shares of Tenet Healthcare in the fourth quarter valued at $60,000. Finally, Hantz Financial Services Inc. purchased a new stake in shares of Tenet Healthcare in the 3rd quarter valued at $83,000. Hedge funds and other institutional investors own 95.44% of the company’s stock.

Tenet Healthcare Stock Up 1.0 %

Tenet Healthcare stock opened at $130.80 on Wednesday. The stock has a 50-day simple moving average of $132.29 and a 200-day simple moving average of $142.77. The company has a market capitalization of $12.44 billion, a P/E ratio of 4.06, a PEG ratio of 1.02 and a beta of 2.06. The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.70 and a current ratio of 1.78. Tenet Healthcare Co. has a fifty-two week low of $90.03 and a fifty-two week high of $171.20.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $3.44 earnings per share for the quarter, beating the consensus estimate of $2.95 by $0.49. Tenet Healthcare had a return on equity of 21.88% and a net margin of 15.48%. Equities research analysts expect that Tenet Healthcare Co. will post 12.24 earnings per share for the current year.

Insider Activity

In other Tenet Healthcare news, Director J Robert Kerrey sold 9,525 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the director now directly owns 27,378 shares of the company’s stock, valued at $3,434,022.54. This represents a 25.81 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on THC shares. Truist Financial cut their price target on shares of Tenet Healthcare from $190.00 to $175.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. The Goldman Sachs Group lowered shares of Tenet Healthcare from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $196.00 to $140.00 in a report on Monday, December 16th. Barclays dropped their price target on shares of Tenet Healthcare from $190.00 to $161.00 and set an “overweight” rating for the company in a research note on Thursday, February 13th. TD Cowen initiated coverage on Tenet Healthcare in a report on Wednesday, February 26th. They issued a “buy” rating and a $175.00 target price for the company. Finally, StockNews.com raised Tenet Healthcare from a “hold” rating to a “buy” rating in a research report on Thursday, March 13th. Three analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $163.88.

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.