Tenet Healthcare Co. (NYSE:THC) Shares Purchased by CIBC Asset Management Inc

CIBC Asset Management Inc grew its holdings in shares of Tenet Healthcare Co. (NYSE:THC) by 5.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,041 shares of the company’s stock after purchasing an additional 154 shares during the quarter. CIBC Asset Management Inc’s holdings in Tenet Healthcare were worth $384,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Sanctuary Advisors LLC grew its holdings in Tenet Healthcare by 2.8% in the 4th quarter. Sanctuary Advisors LLC now owns 15,712 shares of the company’s stock valued at $1,983,000 after buying an additional 423 shares in the last quarter. Asset Management One Co. Ltd. boosted its stake in shares of Tenet Healthcare by 541.3% in the fourth quarter. Asset Management One Co. Ltd. now owns 9,478 shares of the company’s stock valued at $1,213,000 after purchasing an additional 8,000 shares during the period. Castellan Group increased its position in shares of Tenet Healthcare by 4.4% during the fourth quarter. Castellan Group now owns 39,588 shares of the company’s stock worth $4,997,000 after acquiring an additional 1,663 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in Tenet Healthcare in the 4th quarter valued at about $5,892,000. Finally, Savant Capital LLC lifted its stake in Tenet Healthcare by 10.4% in the fourth quarter. Savant Capital LLC now owns 7,439 shares of the company’s stock worth $939,000 after acquiring an additional 699 shares during the last quarter. Hedge funds and other institutional investors own 95.44% of the company’s stock.

Analyst Ratings Changes

THC has been the subject of a number of analyst reports. Truist Financial lowered their target price 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. 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. UBS Group boosted their target price on Tenet Healthcare from $197.00 to $217.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Cantor Fitzgerald reissued an “overweight” rating and set a $177.00 price target on shares of Tenet Healthcare in a report on Thursday, February 13th. Finally, Wells Fargo & Company downgraded Tenet Healthcare from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $205.00 to $150.00 in a report on Monday, November 25th. Four equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Tenet Healthcare presently has a consensus rating of “Moderate Buy” and a consensus target price of $163.19.

Tenet Healthcare Price Performance

Tenet Healthcare stock opened at $129.57 on Monday. 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 stock has a market capitalization of $12.32 billion, a P/E ratio of 4.02, a P/E/G ratio of 1.02 and a beta of 2.05. The firm’s 50-day moving average is $132.90 and its two-hundred day moving average is $147.71. Tenet Healthcare Co. has a 12-month low of $88.98 and a 12-month high of $171.20.

Tenet Healthcare (NYSE:THC) last released its earnings results 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 return on equity of 21.88% and a net margin of 15.48%. Equities analysts predict that Tenet Healthcare Co. will post 12.24 earnings per share for the current year.

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.