Renaissance Group LLC Purchases 3,771 Shares of Tenet Healthcare Corporation $THC

Renaissance Group LLC boosted its position in shares of Tenet Healthcare Corporation (NYSE:THC) by 200.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,648 shares of the company’s stock after acquiring an additional 3,771 shares during the period. Renaissance Group LLC’s holdings in Tenet Healthcare were worth $1,147,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in THC. William B. Walkup & Associates Inc. acquired a new stake in shares of Tenet Healthcare in the 3rd quarter worth $32,000. Westside Investment Management Inc. boosted its holdings in Tenet Healthcare by 100.0% in the third quarter. Westside Investment Management Inc. now owns 192 shares of the company’s stock worth $39,000 after acquiring an additional 96 shares in the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of Tenet Healthcare during the second quarter valued at about $35,000. Trust Co. of Vermont acquired a new stake in Tenet Healthcare in the 3rd quarter worth approximately $41,000. Finally, Caitong International Asset Management Co. Ltd grew its position in Tenet Healthcare by 2,227.3% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 256 shares of the company’s stock worth $45,000 after purchasing an additional 245 shares during the last quarter. 95.44% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Tenet Healthcare

In related news, Director Nadja West sold 2,178 shares of Tenet Healthcare stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $197.47, for a total value of $430,089.66. Following the completion of the transaction, the director owned 28,480 shares in the company, valued at $5,623,945.60. The trade was a 7.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.81% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Cantor Fitzgerald lifted their price objective on shares of Tenet Healthcare from $190.00 to $245.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 29th. Weiss Ratings raised Tenet Healthcare from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, December 29th. The Goldman Sachs Group started coverage on Tenet Healthcare in a report on Tuesday, October 14th. They issued a “buy” rating and a $224.00 price objective on the stock. Wells Fargo & Company decreased their target price on Tenet Healthcare from $252.00 to $229.00 and set an “overweight” rating for the company in a report on Wednesday, January 7th. Finally, Barclays increased their price target on shares of Tenet Healthcare from $229.00 to $240.00 and gave the stock an “overweight” rating in a report on Friday, November 21st. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Tenet Healthcare has a consensus rating of “Moderate Buy” and an average price target of $233.88.

Tenet Healthcare Trading Up 2.9%

Tenet Healthcare stock opened at $201.60 on Friday. The company has a current ratio of 1.71, a quick ratio of 1.64 and a debt-to-equity ratio of 2.27. The firm has a market cap of $17.72 billion, a PE ratio of 13.82, a P/E/G ratio of 0.85 and a beta of 1.44. The stock’s 50 day simple moving average is $198.59 and its two-hundred day simple moving average is $192.83. Tenet Healthcare Corporation has a 12 month low of $109.82 and a 12 month high of $222.82.

Tenet Healthcare Profile

Tenet Healthcare Corporation (NYSE: THC) is a diversified American healthcare services company that owns and operates acute care hospitals and a broad range of outpatient facilities. Its portfolio includes general acute-care hospitals, specialty hospitals, ambulatory surgery centers, urgent care and diagnostic imaging centers, and other ancillary service locations. Tenet’s operations are oriented around delivering inpatient and outpatient clinical care across multiple medical specialties, with an emphasis on surgical services, emergency care, and advanced diagnostics.

In addition to facility-based care, Tenet provides integrated services designed to support clinical operations and improve patient access and care coordination.