MetLife Investment Management LLC Increases Position in Tenet Healthcare Co. (NYSE:THC)

MetLife Investment Management LLC lifted its stake in Tenet Healthcare Co. (NYSE:THC) by 8.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 53,607 shares of the company’s stock after purchasing an additional 4,093 shares during the quarter. MetLife Investment Management LLC’s holdings in Tenet Healthcare were worth $6,767,000 as of its most recent filing with the Securities & Exchange Commission.

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

Insider Activity at Tenet Healthcare

In other news, Director J Robert Kerrey sold 9,525 shares of the company’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $125.43, for a total transaction of $1,194,720.75. Following the sale, the director now directly owns 27,378 shares in the company, valued at approximately $3,434,022.54. This represents a 25.81 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.93% of the stock is owned by insiders.

Tenet Healthcare Stock Up 3.8 %

Shares of THC stock opened at $114.57 on Wednesday. Tenet Healthcare Co. has a 52 week low of $92.01 and a 52 week high of $171.20. The company has a quick ratio of 1.70, a current ratio of 1.78 and a debt-to-equity ratio of 2.25. The company’s fifty day simple moving average is $127.20 and its two-hundred day simple moving average is $137.53. The stock has a market cap of $10.81 billion, a P/E ratio of 3.55, a PEG ratio of 1.02 and a beta of 1.77.

Tenet Healthcare (NYSE:THC) last released 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 return on equity of 21.88% and a net margin of 15.48%. Analysts predict that Tenet Healthcare Co. will post 12.24 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have commented on THC shares. Truist Financial reduced their target price on Tenet Healthcare from $190.00 to $175.00 and set a “buy” rating for the company in a report on Monday, January 6th. KeyCorp cut their price objective on Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Baird R W downgraded Tenet Healthcare from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 15th. TD Cowen began coverage on shares of Tenet Healthcare in a research report on Wednesday, February 26th. They set a “buy” rating and a $175.00 price target for the company. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $177.00 target price on shares of Tenet Healthcare in a research report on Thursday, February 13th. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Tenet Healthcare presently has a consensus rating of “Moderate Buy” and a consensus price target of $165.44.

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.