Vontobel Holding Ltd. acquired a new stake in Tenet Healthcare Co. (NYSE:THC – Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 2,662 shares of the company’s stock, valued at approximately $217,000.
A number of other institutional investors also recently added to or reduced their stakes in the business. Global Retirement Partners LLC lifted its holdings in Tenet Healthcare by 434.4% in the second quarter. Global Retirement Partners LLC now owns 326 shares of the company’s stock valued at $27,000 after acquiring an additional 265 shares during the period. Nvwm LLC acquired a new stake in Tenet Healthcare in the first quarter valued at $30,000. Householder Group Estate & Retirement Specialist LLC purchased a new position in Tenet Healthcare in the first quarter valued at about $31,000. Northwestern Mutual Wealth Management Co. increased its holdings in Tenet Healthcare by 46.3% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 629 shares of the company’s stock valued at $31,000 after buying an additional 199 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in Tenet Healthcare by 236.7% in the first quarter. EverSource Wealth Advisors LLC now owns 559 shares of the company’s stock valued at $33,000 after buying an additional 393 shares in the last quarter. Hedge funds and other institutional investors own 93.56% of the company’s stock.
Analysts Set New Price Targets
Several analysts have weighed in on the company. Royal Bank of Canada upped their target price on Tenet Healthcare from $84.00 to $87.00 and gave the company an “outperform” rating in a report on Tuesday, August 1st. Citigroup upped their price target on shares of Tenet Healthcare from $83.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, August 1st. Raymond James upped their price target on shares of Tenet Healthcare from $85.00 to $95.00 and gave the company a “strong-buy” rating in a report on Wednesday, August 2nd. Cantor Fitzgerald upped their price target on shares of Tenet Healthcare from $76.00 to $94.00 and gave the company an “overweight” rating in a report on Thursday, September 14th. Finally, Truist Financial boosted their price target on Tenet Healthcare from $84.00 to $92.00 in a report on Tuesday, June 20th. One equities research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Tenet Healthcare currently has an average rating of “Buy” and a consensus target price of $84.18.
Tenet Healthcare Trading Up 2.4 %
THC stock opened at $54.09 on Monday. The company has a market cap of $5.49 billion, a price-to-earnings ratio of 11.89, a PEG ratio of 1.64 and a beta of 2.15. The company has a quick ratio of 1.35, a current ratio of 1.44 and a debt-to-equity ratio of 5.47. The business has a fifty day simple moving average of $70.09 and a 200-day simple moving average of $71.80. Tenet Healthcare Co. has a 52 week low of $36.69 and a 52 week high of $85.40.
Tenet Healthcare (NYSE:THC – Get Free Report) last announced its quarterly earnings results on Monday, July 31st. The company reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.18. The firm had revenue of $5.08 billion during the quarter, compared to the consensus estimate of $4.91 billion. Tenet Healthcare had a return on equity of 26.60% and a net margin of 2.51%. The firm’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.50 EPS. On average, equities research analysts expect that Tenet Healthcare Co. will post 5.73 EPS for the current year.
About Tenet Healthcare
Tenet Healthcare Corporation operates as a diversified healthcare services company. The company operates through three segments: Hospital Operations, Ambulatory Care, and Conifer. Its general hospitals offer acute care services, operating and recovery rooms, radiology and respiratory therapy services, clinical laboratories, and pharmacies.
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