Alberta Investment Management Corp Raises Position in Tenet Healthcare Co. (NYSE:THC)

Alberta Investment Management Corp raised its position in shares of Tenet Healthcare Co. (NYSE:THC) by 212.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 25,000 shares of the company’s stock after purchasing an additional 17,000 shares during the period. Alberta Investment Management Corp’s holdings in Tenet Healthcare were worth $3,156,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the company. Plato Investment Management Ltd purchased a new stake in Tenet Healthcare in the 3rd quarter worth about $28,000. Financial Management Professionals Inc. increased its stake in shares of Tenet Healthcare by 2,222.2% in the third quarter. Financial Management Professionals Inc. now owns 209 shares of the company’s stock worth $35,000 after purchasing an additional 200 shares in the last quarter. True Wealth Design LLC purchased a new stake in shares of Tenet Healthcare during the 3rd quarter valued at approximately $38,000. Kestra Investment Management LLC bought a new position in Tenet Healthcare in the 4th quarter worth approximately $60,000. Finally, Wilmington Savings Fund Society FSB raised its holdings in Tenet Healthcare by 1,352.8% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 523 shares of the company’s stock valued at $66,000 after acquiring an additional 487 shares during the period. 95.44% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on THC. StockNews.com cut Tenet Healthcare from a “buy” rating to a “hold” rating in a research report on Thursday, February 13th. Wells Fargo & Company lowered Tenet Healthcare from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $205.00 to $150.00 in a report on Monday, November 25th. KeyCorp cut 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. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $175.00 target price on shares of Tenet Healthcare in a report on Tuesday, December 17th. Finally, UBS Group raised their price target on shares of Tenet Healthcare from $197.00 to $217.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Four equities research 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 MarketBeat.com, Tenet Healthcare has a consensus rating of “Moderate Buy” and a consensus price target of $163.19.

Tenet Healthcare Stock Up 1.3 %

THC opened at $137.44 on Friday. The company has a market cap of $13.07 billion, a P/E ratio of 4.26, a P/E/G ratio of 1.00 and a beta of 2.05. Tenet Healthcare Co. has a 12 month low of $88.98 and a 12 month high of $171.20. The business’s 50-day moving average price is $133.04 and its 200-day moving average price is $147.79. The company has a current ratio of 1.78, a quick ratio of 1.70 and a debt-to-equity ratio of 2.25.

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

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.