Convergence Investment Partners LLC Boosts Position in Tenet Healthcare Co. (NYSE:THC)

Convergence Investment Partners LLC increased its stake in Tenet Healthcare Co. (NYSE:THC) by 25.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,605 shares of the company’s stock after buying an additional 2,351 shares during the period. Convergence Investment Partners LLC’s holdings in Tenet Healthcare were worth $1,465,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Plato Investment Management Ltd purchased a new position in Tenet Healthcare during the 3rd quarter valued at about $28,000. Financial Management Professionals Inc. increased its position in Tenet Healthcare by 2,222.2% during the 3rd quarter. Financial Management Professionals Inc. now owns 209 shares of the company’s stock valued at $35,000 after purchasing an additional 200 shares during the period. True Wealth Design LLC purchased a new position in Tenet Healthcare during the 3rd quarter valued at about $38,000. Kestra Investment Management LLC purchased a new position in Tenet Healthcare during the 4th quarter valued at about $60,000. Finally, Hantz Financial Services Inc. purchased a new position in Tenet Healthcare during the 3rd quarter valued at about $83,000. Hedge funds and other institutional investors own 95.44% of the company’s stock.

Tenet Healthcare Stock Performance

THC opened at $135.30 on Wednesday. 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 firm has a fifty day moving average price of $133.09 and a 200 day moving average price of $147.95. The stock has a market cap of $12.87 billion, a P/E ratio of 4.20, a P/E/G ratio of 0.79 and a beta of 2.05. Tenet Healthcare Co. has a 1 year low of $88.98 and a 1 year high of $171.20.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $3.44 earnings per share for the quarter, topping 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%. Equities research analysts anticipate that Tenet Healthcare Co. will post 12.13 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. StockNews.com cut shares of Tenet Healthcare from a “buy” rating to a “hold” rating in a report on Thursday, February 13th. KeyCorp lowered their price target on shares of Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Cantor Fitzgerald restated an “overweight” rating and issued a $177.00 price target on shares of Tenet Healthcare in a report on Thursday, February 13th. Barclays lowered their price target on shares of Tenet Healthcare from $190.00 to $161.00 and set an “overweight” rating on the stock in a report on Thursday, February 13th. Finally, The Goldman Sachs Group cut shares of Tenet Healthcare from a “buy” rating to a “neutral” rating and lowered their price target for the company from $196.00 to $140.00 in a report on Monday, December 16th. Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $163.19.

Tenet Healthcare 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.