QRG Capital Management Inc. Has $1.03 Million Stake in Tenet Healthcare Co. (NYSE:THC)

QRG Capital Management Inc. cut its position in shares of Tenet Healthcare Co. (NYSE:THC) by 1.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 8,158 shares of the company’s stock after selling 160 shares during the period. QRG Capital Management Inc.’s holdings in Tenet Healthcare were worth $1,030,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of THC. Plato Investment Management Ltd acquired a new stake in shares of Tenet Healthcare in the third quarter valued at approximately $28,000. True Wealth Design LLC bought a new position in Tenet Healthcare in the third quarter valued at $38,000. Kestra Investment Management LLC bought a new stake in Tenet Healthcare during the 4th quarter worth about $60,000. Wilmington Savings Fund Society FSB boosted its stake in shares of Tenet Healthcare by 1,352.8% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 523 shares of the company’s stock worth $66,000 after buying an additional 487 shares during the last quarter. Finally, Spire Wealth Management increased its position in shares of Tenet Healthcare by 19.5% in the fourth quarter. Spire Wealth Management now owns 558 shares of the company’s stock valued at $70,000 after acquiring an additional 91 shares during the last quarter. Institutional investors and hedge funds own 95.44% of the company’s stock.

Tenet Healthcare Stock Down 1.7 %

THC stock opened at $124.48 on Tuesday. The business’s fifty day moving average price is $132.92 and its two-hundred day moving average price is $146.77. The stock has a market capitalization of $11.84 billion, a price-to-earnings ratio of 3.86, a PEG ratio of 1.02 and a beta of 2.05. Tenet Healthcare Co. has a fifty-two week low of $90.03 and a fifty-two week 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.

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

Wall Street Analyst Weigh In

Several brokerages recently commented on THC. Barclays reduced their price target on Tenet Healthcare from $190.00 to $161.00 and set an “overweight” rating for the company in a research report on Thursday, February 13th. Raymond James downgraded shares of Tenet Healthcare from a “strong-buy” rating to an “outperform” rating and set a $195.00 target price on the stock. in a report on Friday, November 22nd. Truist Financial cut their price target on shares of Tenet Healthcare from $190.00 to $175.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Wells Fargo & Company lowered shares of Tenet Healthcare from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $205.00 to $150.00 in a research note on Monday, November 25th. Finally, The Goldman Sachs Group cut Tenet Healthcare from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $196.00 to $140.00 in a report on Monday, December 16th. Three investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Tenet Healthcare has an average rating of “Moderate Buy” and an average price target of $163.88.

Tenet Healthcare Company Profile

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.