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:THCFree Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 5,791 shares of the company’s stock, valued at approximately $731,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. New Wave Wealth Advisors LLC acquired a new stake in Tenet Healthcare in the 4th quarter valued at about $343,000. Swedbank AB grew its position in shares of Tenet Healthcare by 100.0% during the 4th quarter. Swedbank AB now owns 40,000 shares of the company’s stock worth $5,049,000 after buying an additional 20,000 shares during the period. Signet Financial Management LLC acquired a new stake in shares of Tenet Healthcare during the 4th quarter worth approximately $1,526,000. China Universal Asset Management Co. Ltd. acquired a new stake in shares of Tenet Healthcare during the 4th quarter worth approximately $410,000. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in shares of Tenet Healthcare during the 4th quarter worth approximately $5,892,000. Institutional investors and hedge funds own 95.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on THC. Cantor Fitzgerald reiterated an “overweight” rating and set a $177.00 price target on shares of Tenet Healthcare in a research report on Thursday, February 13th. Truist Financial lowered their price target on shares of Tenet Healthcare from $190.00 to $175.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Raymond James cut shares of Tenet Healthcare from a “strong-buy” rating to an “outperform” rating and set a $195.00 price objective for the company. in a report on Friday, November 22nd. TD Cowen started coverage on shares of Tenet Healthcare in a report on Wednesday, February 26th. They set a “buy” rating and a $175.00 price objective for the company. Finally, JPMorgan Chase & Co. restated an “overweight” rating and set a $175.00 price objective on shares of Tenet Healthcare in a report on Tuesday, December 17th. Three investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $163.88.

Read Our Latest Stock Report on THC

Insider Buying and Selling

In related news, Director J Robert Kerrey sold 9,525 shares of the business’s stock in a transaction 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 transaction, the director now directly owns 27,378 shares in the company, valued at approximately $3,434,022.54. The trade was a 25.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.93% of the stock is owned by corporate insiders.

Tenet Healthcare Stock Performance

Shares of THC stock opened at $122.76 on Friday. The company’s fifty day simple moving average is $132.46 and its 200-day simple moving average is $144.62. The company has a quick ratio of 1.70, a current ratio of 1.78 and a debt-to-equity ratio of 2.25. The firm has a market cap of $11.68 billion, a PE ratio of 3.81, a P/E/G ratio of 1.02 and a beta of 2.06. Tenet Healthcare Co. has a 12 month low of $90.03 and a 12 month high of $171.20.

Tenet Healthcare (NYSE:THCGet Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $3.44 EPS 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 expect that Tenet Healthcare Co. will post 12.24 EPS for the current fiscal year.

Tenet Healthcare Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Tenet Healthcare (NYSE:THC)

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