Tenet Healthcare Corporation $THC Shares Bought by Candriam S.C.A.

Candriam S.C.A. lifted its holdings in shares of Tenet Healthcare Corporation (NYSE:THC) by 42.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,816 shares of the company’s stock after buying an additional 10,310 shares during the quarter. Candriam S.C.A.’s holdings in Tenet Healthcare were worth $7,069,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. William B. Walkup & Associates Inc. acquired a new stake in shares of Tenet Healthcare in the third quarter valued at about $32,000. Canada Pension Plan Investment Board purchased a new position in Tenet Healthcare in the 2nd quarter valued at about $35,000. Westside Investment Management Inc. increased its stake in Tenet Healthcare by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 192 shares of the company’s stock worth $39,000 after buying an additional 96 shares in the last quarter. Trust Co. of Vermont acquired a new position in shares of Tenet Healthcare during the third quarter valued at approximately $41,000. Finally, Caitong International Asset Management Co. Ltd lifted its position in shares of Tenet Healthcare by 2,227.3% in the second quarter. Caitong International Asset Management Co. Ltd now owns 256 shares of the company’s stock valued at $45,000 after acquiring an additional 245 shares in the last quarter. Institutional investors and hedge funds own 95.44% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on the company. Morgan Stanley reissued an “overweight” rating and issued a $247.00 price objective on shares of Tenet Healthcare in a research note on Thursday, December 18th. Truist Financial reiterated a “buy” rating and issued a $240.00 target price (up from $225.00) on shares of Tenet Healthcare in a research report on Monday, November 3rd. UBS Group restated a “buy” rating on shares of Tenet Healthcare in a research report on Tuesday, February 3rd. Wells Fargo & Company cut their price objective on shares of Tenet Healthcare from $252.00 to $229.00 and set an “overweight” rating for the company in a report on Wednesday, January 7th. Finally, Mizuho raised their target price on shares of Tenet Healthcare from $194.00 to $225.00 and gave the stock an “outperform” rating in a research note on Friday, October 17th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Tenet Healthcare has an average rating of “Moderate Buy” and an average price target of $233.88.

Insiders Place Their Bets

In other Tenet Healthcare news, Director Nadja West sold 2,178 shares of the firm’s stock in a transaction on Monday, December 15th. The stock was sold at an average price of $197.47, for a total transaction of $430,089.66. Following the completion of the sale, the director owned 28,480 shares of the company’s stock, valued at $5,623,945.60. This trade represents a 7.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.81% of the company’s stock.

Tenet Healthcare Stock Performance

NYSE:THC opened at $192.64 on Wednesday. The company’s 50-day moving average is $197.70 and its two-hundred day moving average is $193.68. The firm has a market capitalization of $16.93 billion, a price-to-earnings ratio of 13.20, a PEG ratio of 0.82 and a beta of 1.44. The company has a debt-to-equity ratio of 2.27, a current ratio of 1.71 and a quick ratio of 1.64. Tenet Healthcare Corporation has a 1-year low of $109.82 and a 1-year high of $222.82.

Tenet Healthcare Company Profile

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.