Mutual of America Capital Management LLC Has $13.55 Million Stock Holdings in Tenet Healthcare Corporation $THC

Mutual of America Capital Management LLC lessened its stake in shares of Tenet Healthcare Corporation (NYSE:THC) by 6.7% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 66,725 shares of the company’s stock after selling 4,829 shares during the quarter. Mutual of America Capital Management LLC owned approximately 0.08% of Tenet Healthcare worth $13,548,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank acquired a new stake in shares of Tenet Healthcare during the second quarter valued at about $206,981,000. Boston Partners grew its holdings in Tenet Healthcare by 95.0% during the 2nd quarter. Boston Partners now owns 2,267,142 shares of the company’s stock worth $398,949,000 after acquiring an additional 1,104,500 shares during the last quarter. Alliancebernstein L.P. lifted its holdings in shares of Tenet Healthcare by 375.7% during the second quarter. Alliancebernstein L.P. now owns 790,254 shares of the company’s stock worth $139,085,000 after purchasing an additional 624,125 shares during the period. Holocene Advisors LP acquired a new stake in Tenet Healthcare in the second quarter valued at $102,855,000. Finally, Assenagon Asset Management S.A. lifted its holdings in Tenet Healthcare by 331.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 363,754 shares of the company’s stock worth $73,857,000 after buying an additional 279,377 shares during the period. Institutional investors and hedge funds own 95.44% of the company’s stock.

Wall Street Analysts Forecast Growth

THC has been the topic of several analyst reports. Wall Street Zen cut Tenet Healthcare from a “strong-buy” rating to a “buy” rating in a report on Sunday, January 18th. JPMorgan Chase & Co. increased their price objective on shares of Tenet Healthcare from $200.00 to $230.00 and gave the stock an “overweight” rating in a research report on Thursday, November 13th. The Goldman Sachs Group started coverage on shares of Tenet Healthcare in a research report on Tuesday, October 14th. They set a “buy” rating and a $224.00 price target on the stock. Wells Fargo & Company dropped their price objective on Tenet Healthcare from $252.00 to $229.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 7th. Finally, UBS Group lifted their target price on Tenet Healthcare from $238.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $233.81.

Tenet Healthcare Stock Up 0.6%

Shares of NYSE:THC opened at $189.91 on Tuesday. The firm has a market cap of $16.69 billion, a P/E ratio of 13.02, a PEG ratio of 0.80 and a beta of 1.41. Tenet Healthcare Corporation has a 52-week low of $109.82 and a 52-week high of $222.82. The business’s 50 day simple moving average is $201.04 and its two-hundred day simple moving average is $191.75. The company has a debt-to-equity ratio of 2.27, a quick ratio of 1.64 and a current ratio of 1.71.

Tenet Healthcare (NYSE:THC) last issued its earnings results on Tuesday, October 28th. The company reported $3.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.33 by $0.37. Tenet Healthcare had a return on equity of 25.11% and a net margin of 6.49%.The company had revenue of $5.29 billion for the quarter, compared to analysts’ expectations of $5.26 billion. During the same period last year, the business earned $2.93 EPS. Tenet Healthcare’s quarterly revenue was up 3.2% compared to the same quarter last year. As a group, research analysts forecast that Tenet Healthcare Corporation will post 12.24 EPS for the current fiscal year.

Insider Buying and Selling

In other Tenet Healthcare news, Director Nadja West sold 2,178 shares of the business’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $197.47, for a total transaction of $430,089.66. Following the completion of the sale, the director directly owned 28,480 shares of the company’s stock, valued at approximately $5,623,945.60. The trade was a 7.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider R. Scott Ramsey sold 13,322 shares of Tenet Healthcare stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $205.11, for a total value of $2,732,475.42. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 45,500 shares of company stock worth $9,247,071 over the last 90 days. Company insiders own 0.81% of the company’s stock.

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.