C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Takes Position in Tenet Healthcare Co. (NYSE:THC)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in Tenet Healthcare Co. (NYSE:THC) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 46,678 shares of the company’s stock, valued at approximately $5,892,000.

Other institutional investors also recently bought and sold shares of the company. FMR LLC increased its stake in Tenet Healthcare by 88.0% in the third quarter. FMR LLC now owns 7,700,693 shares of the company’s stock valued at $1,279,855,000 after purchasing an additional 3,604,161 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Tenet Healthcare by 23.6% during the 3rd quarter. Geode Capital Management LLC now owns 2,044,667 shares of the company’s stock valued at $339,893,000 after acquiring an additional 390,316 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of Tenet Healthcare by 11.9% during the 3rd quarter. Franklin Resources Inc. now owns 457,704 shares of the company’s stock worth $71,077,000 after acquiring an additional 48,580 shares during the period. Point72 Asset Management L.P. grew its holdings in Tenet Healthcare by 32.0% in the third quarter. Point72 Asset Management L.P. now owns 442,949 shares of the company’s stock valued at $73,618,000 after purchasing an additional 107,290 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its position in Tenet Healthcare by 344.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 317,198 shares of the company’s stock worth $52,718,000 after purchasing an additional 245,875 shares during the last quarter. 95.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently commented on THC shares. Wells Fargo & Company downgraded Tenet Healthcare from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $205.00 to $150.00 in a report on Monday, November 25th. KeyCorp dropped their price objective on shares of Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. The Goldman Sachs Group cut shares of Tenet Healthcare from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $196.00 to $140.00 in a research report on Monday, December 16th. JPMorgan Chase & Co. restated an “overweight” rating and set a $175.00 price objective on shares of Tenet Healthcare in a research note on Tuesday, December 17th. Finally, UBS Group lifted their price objective on shares of Tenet Healthcare from $197.00 to $217.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Three equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $165.00.

Tenet Healthcare Price Performance

NYSE THC opened at $126.29 on Thursday. The company has a 50-day moving average price of $133.55 and a two-hundred day moving average price of $148.37. The stock has a market cap of $12.01 billion, a price-to-earnings ratio of 4.05, a price-to-earnings-growth ratio of 0.63 and a beta of 2.05. The company has a current ratio of 1.58, a quick ratio of 1.52 and a debt-to-equity ratio of 2.35. Tenet Healthcare Co. has a 52 week low of $86.90 and a 52 week high of $171.20.

Tenet Healthcare (NYSE:THC) last posted its earnings results on Wednesday, February 12th. The company reported $3.44 EPS for the quarter, beating the consensus estimate of $2.95 by $0.49. Tenet Healthcare had a return on equity of 24.05% and a net margin of 14.91%. Analysts forecast that Tenet Healthcare Co. will post 11.37 EPS 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.