WealthTrust Asset Management LLC Acquires Shares of 5,791 Tenet Healthcare Co. (NYSE:THC)

WealthTrust Asset Management LLC acquired a new stake in Tenet Healthcare Co. (NYSE:THC) during the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 5,791 shares of the company’s stock, valued at approximately $731,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. New Wave Wealth Advisors LLC acquired a new position in shares of Tenet Healthcare in the fourth quarter valued at $343,000. Swedbank AB grew its stake in shares of Tenet Healthcare by 100.0% in the fourth quarter. Swedbank AB now owns 40,000 shares of the company’s stock valued at $5,049,000 after acquiring an additional 20,000 shares in the last quarter. Signet Financial Management LLC acquired a new position in shares of Tenet Healthcare in the fourth quarter valued at about $1,526,000. China Universal Asset Management Co. Ltd. acquired a new position in shares of Tenet Healthcare in the fourth quarter valued at about $410,000. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in shares of Tenet Healthcare in the fourth quarter valued at about $5,892,000. 95.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on THC. Wells Fargo & Company downgraded shares of Tenet Healthcare from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $205.00 to $150.00 in a research note on Monday, November 25th. Truist Financial decreased their price target on shares of Tenet Healthcare from $190.00 to $175.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. StockNews.com raised shares of Tenet Healthcare from a “hold” rating to a “buy” rating in a research report on Thursday. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $175.00 price objective on shares of Tenet Healthcare in a research report on Tuesday, December 17th. Finally, The Goldman Sachs Group cut shares of Tenet Healthcare from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $196.00 to $140.00 in a research report on Monday, December 16th. Three investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $163.88.

Tenet Healthcare Stock Up 2.7 %

Shares of NYSE THC opened at $122.76 on Friday. The company has a 50 day simple moving average of $132.46 and a 200 day simple moving average of $144.62. The firm has a market cap of $11.68 billion, a PE ratio of 3.81, a price-to-earnings-growth ratio of 1.02 and a beta of 2.06. Tenet Healthcare Co. has a 1 year low of $90.03 and a 1 year high of $171.20. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.78 and a quick ratio of 1.70.

Tenet Healthcare (NYSE:THC) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $3.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.95 by $0.49. Tenet Healthcare had a net margin of 15.48% and a return on equity of 21.88%. On average, research analysts forecast that Tenet Healthcare Co. will post 12.24 EPS for the current year.

Insider Buying and Selling at Tenet Healthcare

In other Tenet Healthcare news, Director J Robert Kerrey sold 9,525 shares of the stock in a transaction that occurred on 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 completion of the sale, the director now owns 27,378 shares of the company’s stock, valued at approximately $3,434,022.54. This represents a 25.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.93% of the company’s stock.

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.