Thrivent Financial for Lutherans Boosts Stake in Tenet Healthcare Corporation $THC

Thrivent Financial for Lutherans increased its stake in Tenet Healthcare Corporation (NYSE:THC) by 28.2% in the 3rd quarter, Holdings Channel reports. The fund owned 94,439 shares of the company’s stock after buying an additional 20,754 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Tenet Healthcare were worth $19,175,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. William B. Walkup & Associates Inc. purchased a new position in shares of Tenet Healthcare during the 3rd quarter valued at about $32,000. Chung Wu Investment Group LLC purchased a new position in shares of Tenet Healthcare during the second quarter worth approximately $35,000. Canada Pension Plan Investment Board bought a new stake in shares of Tenet Healthcare in the 2nd quarter worth approximately $35,000. Trust Co. of Vermont bought a new position in shares of Tenet Healthcare during the 3rd quarter valued at $41,000. Finally, Caitong International Asset Management Co. Ltd raised its position in Tenet Healthcare by 2,227.3% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 256 shares of the company’s stock worth $45,000 after purchasing an additional 245 shares during the period. 95.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Tenet Healthcare

In other Tenet Healthcare news, Director Nadja West sold 2,178 shares of the stock in a transaction on Monday, December 15th. The stock was sold at an average price of $197.47, for a total value of $430,089.66. Following the completion of the transaction, the director owned 28,480 shares in the company, valued at approximately $5,623,945.60. This represents a 7.10% 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 link. Also, insider R. Scott Ramsey sold 13,322 shares of the business’s stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $205.11, for a total transaction of $2,732,475.42. The disclosure for this sale is available in the SEC filing. 0.81% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on THC shares. Weiss Ratings upgraded Tenet Healthcare from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, December 29th. Royal Bank Of Canada boosted their price objective on Tenet Healthcare from $252.00 to $253.00 and gave the company an “outperform” rating in a research report on Tuesday. Truist Financial restated a “buy” rating and issued a $240.00 target price (up previously from $225.00) on shares of Tenet Healthcare in a report on Monday, November 3rd. Wells Fargo & Company dropped their price target on shares of Tenet Healthcare from $252.00 to $229.00 and set an “overweight” rating for the company in a research report on Wednesday, January 7th. Finally, Barclays boosted their price objective on shares of Tenet Healthcare from $229.00 to $240.00 and gave the company an “overweight” rating in a research report on Friday, November 21st. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $233.88.

Tenet Healthcare Stock Performance

Shares of THC opened at $193.32 on Wednesday. The company has a 50-day simple moving average of $199.86 and a two-hundred day simple moving average of $192.38. The company has a debt-to-equity ratio of 2.27, a current ratio of 1.71 and a quick ratio of 1.64. The firm has a market capitalization of $16.99 billion, a PE ratio of 13.25, a price-to-earnings-growth ratio of 0.80 and a beta of 1.44. Tenet Healthcare Corporation has a one year low of $109.82 and a one year high of $222.82.

About Tenet Healthcare

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.