NJ State Employees Deferred Compensation Plan Sells 1,300 Shares of Tenet Healthcare Co. (NYSE:THC)

NJ State Employees Deferred Compensation Plan cut its holdings in shares of Tenet Healthcare Co. (NYSE:THC) by 8.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,700 shares of the company’s stock after selling 1,300 shares during the quarter. NJ State Employees Deferred Compensation Plan’s holdings in Tenet Healthcare were worth $1,856,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Tenet Healthcare by 122.8% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 8,009 shares of the company’s stock worth $1,331,000 after purchasing an additional 4,414 shares during the last quarter. First Trust Direct Indexing L.P. increased its holdings in shares of Tenet Healthcare by 4.3% in the third quarter. First Trust Direct Indexing L.P. now owns 2,831 shares of the company’s stock worth $471,000 after purchasing an additional 116 shares during the last quarter. Gladstone Institutional Advisory LLC bought a new stake in shares of Tenet Healthcare in the third quarter worth about $450,000. Janney Montgomery Scott LLC increased its holdings in shares of Tenet Healthcare by 135.0% in the third quarter. Janney Montgomery Scott LLC now owns 19,478 shares of the company’s stock worth $3,237,000 after purchasing an additional 11,188 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. bought a new stake in shares of Tenet Healthcare in the third quarter worth about $3,599,000. 95.44% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on THC. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $175.00 price target on shares of Tenet Healthcare in a research report on Tuesday, December 17th. Truist Financial dropped their price target 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. Cantor Fitzgerald reiterated an “overweight” rating and issued a $177.00 price target on shares of Tenet Healthcare in a research report on Thursday, February 13th. The Goldman Sachs Group lowered Tenet Healthcare from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $196.00 to $140.00 in a research report on Monday, December 16th. Finally, TD Cowen initiated coverage on Tenet Healthcare in a research report on Wednesday, February 26th. They issued a “buy” rating and a $175.00 price target for the company. Three research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Tenet Healthcare presently has an average rating of “Moderate Buy” and a consensus price target of $163.88.

Tenet Healthcare Stock Performance

Tenet Healthcare stock opened at $124.48 on Tuesday. The company has a 50 day moving average price of $132.92 and a 200-day moving average price of $146.77. The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.70 and a current ratio of 1.78. 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 market capitalization of $11.84 billion, a PE ratio of 3.86, a P/E/G ratio of 1.02 and a beta of 2.05.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $3.44 earnings per share 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%. As a group, equities analysts forecast that Tenet Healthcare Co. will post 12.24 earnings per share for the current year.

Tenet Healthcare 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.