Mutual of America Capital Management LLC Decreases Stock Holdings in Tenet Healthcare Co. (NYSE:THC)

Mutual of America Capital Management LLC cut its position in Tenet Healthcare Co. (NYSE:THC) by 1.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 80,272 shares of the company’s stock after selling 1,581 shares during the quarter. Mutual of America Capital Management LLC owned approximately 0.08% of Tenet Healthcare worth $10,133,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. FMR LLC grew its stake in Tenet Healthcare by 88.0% during the 3rd quarter. FMR LLC now owns 7,700,693 shares of the company’s stock worth $1,279,855,000 after buying an additional 3,604,161 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Tenet Healthcare by 23.6% during the third quarter. Geode Capital Management LLC now owns 2,044,667 shares of the company’s stock worth $339,893,000 after acquiring an additional 390,316 shares during the last quarter. Iron Triangle Partners LP acquired a new position in shares of Tenet Healthcare during the third quarter valued at about $51,346,000. Point72 Asset Management L.P. grew its position in Tenet Healthcare by 32.0% during the 3rd quarter. Point72 Asset Management L.P. now owns 442,949 shares of the company’s stock worth $73,618,000 after purchasing an additional 107,290 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in Tenet Healthcare by 60.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 253,931 shares of the company’s stock valued at $32,054,000 after purchasing an additional 96,106 shares in the last quarter. 95.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Barclays cut their target price on Tenet Healthcare from $190.00 to $161.00 and set an “overweight” rating on the stock in a research report on Thursday, February 13th. Truist Financial cut their price objective on Tenet Healthcare from $190.00 to $175.00 and set a “buy” rating on the stock in a report on Monday, January 6th. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $175.00 target price on shares of Tenet Healthcare in a research report on Tuesday, December 17th. Wells Fargo & Company cut shares of Tenet Healthcare from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $205.00 to $150.00 in a research note on Monday, November 25th. Finally, StockNews.com raised shares of Tenet Healthcare from a “hold” rating to a “buy” rating in a report on Tuesday, February 25th. Three analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Tenet Healthcare has a consensus rating of “Moderate Buy” and a consensus target price of $163.88.

Tenet Healthcare Stock Performance

Shares of THC stock opened at $126.58 on Friday. The company has a market capitalization of $12.04 billion, a P/E ratio of 3.93, a P/E/G ratio of 1.02 and a beta of 2.05. Tenet Healthcare Co. has a 12-month low of $90.03 and a 12-month high of $171.20. The business’s 50 day moving average is $133.03 and its two-hundred day moving average is $147.03. The company has a current ratio of 1.78, a quick ratio of 1.70 and a debt-to-equity ratio of 2.25.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $3.44 earnings per share (EPS) for the quarter, beating 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%. Analysts expect that Tenet Healthcare Co. will post 12.24 EPS for the current fiscal year.

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.