Susquehanna Advisors Group Inc. Makes New Investment in Tenet Healthcare Co. (NYSE:THC)

Susquehanna Advisors Group Inc. acquired a new position in shares of Tenet Healthcare Co. (NYSE:THC) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 15,000 shares of the company’s stock, valued at approximately $1,893,000.

Other institutional investors have also recently bought and sold shares of the company. Geode Capital Management LLC boosted its position in Tenet Healthcare by 3.5% during the fourth quarter. Geode Capital Management LLC now owns 2,116,121 shares of the company’s stock worth $268,591,000 after purchasing an additional 71,454 shares during the period. Norges Bank bought a new stake in shares of Tenet Healthcare during the fourth quarter worth approximately $190,819,000. Dimensional Fund Advisors LP boosted its stake in Tenet Healthcare by 22.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,493,532 shares of the company’s stock valued at $188,524,000 after purchasing an additional 272,906 shares during the period. Allianz Asset Management GmbH boosted its position in shares of Tenet Healthcare by 15.1% in the fourth quarter. Allianz Asset Management GmbH now owns 577,143 shares of the company’s stock valued at $72,853,000 after acquiring an additional 75,688 shares during the period. Finally, Wealthfront Advisers LLC bought a new stake in Tenet Healthcare in the 4th quarter valued at about $69,059,000. Institutional investors and hedge funds own 95.44% of the company’s stock.

Insider Activity at Tenet Healthcare

In other Tenet Healthcare news, Director J Robert Kerrey sold 9,525 shares of the business’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 approximately $3,434,022.54. The trade was a 25.81 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.93% of the stock is currently owned by insiders.

Tenet Healthcare Stock Down 9.2 %

Shares of NYSE:THC opened at $110.60 on Tuesday. Tenet Healthcare Co. has a 1 year low of $92.01 and a 1 year high of $171.20. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.78 and a quick ratio of 1.70. The business’s 50-day moving average is $127.57 and its 200-day moving average is $137.69. The company has a market capitalization of $10.44 billion, a price-to-earnings ratio of 3.43, a P/E/G ratio of 1.02 and a beta of 1.77.

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

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Truist Financial cut their target price on Tenet Healthcare from $190.00 to $175.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Morgan Stanley assumed coverage on shares of Tenet Healthcare in a research report on Wednesday, March 26th. They set an “overweight” rating and a $165.00 price target on the stock. Barclays lowered their price target on Tenet Healthcare from $190.00 to $161.00 and set an “overweight” rating for the company in a report on Thursday, February 13th. Baird R W downgraded shares of Tenet Healthcare from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 15th. Finally, Guggenheim started coverage on shares of Tenet Healthcare in a research note on Wednesday, April 9th. They set a “buy” rating and a $165.00 target price on the stock. Five investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Tenet Healthcare presently has a consensus rating of “Moderate Buy” and an average price target of $165.44.

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.