Oxford Financial Group LTD. LLC purchased a new stake in Tenet Healthcare Co. (NYSE:THC - Free Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 4,294 shares of the company's stock, valued at approximately $542,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. Xponance Inc. increased its stake in Tenet Healthcare by 4.8% during the fourth quarter. Xponance Inc. now owns 10,929 shares of the company's stock worth $1,380,000 after acquiring an additional 497 shares during the last quarter. Thrivent Financial for Lutherans increased its position in Tenet Healthcare by 31.8% during the 4th quarter. Thrivent Financial for Lutherans now owns 48,982 shares of the company's stock worth $6,433,000 after purchasing an additional 11,825 shares in the last quarter. Signaturefd LLC lifted its position in Tenet Healthcare by 24.8% during the fourth quarter. Signaturefd LLC now owns 784 shares of the company's stock valued at $99,000 after buying an additional 156 shares in the last quarter. WealthTrust Asset Management LLC purchased a new stake in Tenet Healthcare during the fourth quarter worth approximately $731,000. Finally, Envestnet Portfolio Solutions Inc. raised its stake in shares of Tenet Healthcare by 1.5% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 12,647 shares of the company's stock valued at $1,596,000 after acquiring an additional 186 shares during the period. 95.44% of the stock is currently owned by institutional investors and hedge funds.
Tenet Healthcare Stock Performance
Shares of NYSE THC traded up $1.31 during trading on Tuesday, reaching $130.80. The stock had a trading volume of 1,694,002 shares, compared to its average volume of 1,511,454. The firm's 50 day moving average price is $132.29 and its two-hundred day moving average price is $142.77. Tenet Healthcare Co. has a one year low of $90.03 and a one year high of $171.20. The stock has a market cap of $12.44 billion, a PE ratio of 4.06, a P/E/G ratio of 1.02 and a beta of 2.06. The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.70 and a current ratio of 1.78.
Tenet Healthcare (NYSE:THC - Get Free Report) last posted its quarterly 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 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 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
Several analysts recently issued reports on THC shares. Wells Fargo & Company downgraded Tenet Healthcare from an "overweight" rating to an "equal weight" rating and lowered their price target for the company from $205.00 to $150.00 in a report on Monday, November 25th. TD Cowen began coverage on Tenet Healthcare in a report on Wednesday, February 26th. They set a "buy" rating and a $175.00 target price on the stock. The Goldman Sachs Group cut 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 report on Monday, December 16th. KeyCorp reduced their target price on shares of Tenet Healthcare from $200.00 to $185.00 and set an "overweight" rating on the stock in a research report on Tuesday, January 7th. Finally, StockNews.com raised shares of Tenet Healthcare from a "hold" rating to a "buy" rating in a research note on Thursday, March 13th. Three equities research 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 company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $163.88.
View Our Latest Stock Report on THC
Insider Buying and Selling
In other Tenet Healthcare news, Director J Robert Kerrey sold 9,525 shares of the firm's stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $125.43, for a total value of $1,194,720.75. Following the sale, the director now directly owns 27,378 shares in the company, valued at approximately $3,434,022.54. This trade represents a 25.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.93% of the company's stock.
Tenet Healthcare Company Profile
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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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