C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Makes New Investment in Tenet Healthcare Co. (NYSE:THC)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in shares of Tenet Healthcare Co. (NYSE:THC - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 46,678 shares of the company's stock, valued at approximately $5,892,000.

Several other large investors have also recently added to or reduced their stakes in the company. Kestra Investment Management LLC bought a new position in Tenet Healthcare during the 4th quarter worth $60,000. Venturi Wealth Management LLC increased its position in Tenet Healthcare by 234.0% during the 4th quarter. Venturi Wealth Management LLC now owns 1,740 shares of the company's stock worth $220,000 after buying an additional 1,219 shares during the period. Truist Financial Corp increased its position in Tenet Healthcare by 1.6% during the 4th quarter. Truist Financial Corp now owns 12,407 shares of the company's stock worth $1,566,000 after buying an additional 198 shares during the period. CIBC Asset Management Inc increased its position in shares of Tenet Healthcare by 5.3% in the fourth quarter. CIBC Asset Management Inc now owns 3,041 shares of the company's stock worth $384,000 after purchasing an additional 154 shares during the period. Finally, Sanctuary Advisors LLC increased its position in shares of Tenet Healthcare by 2.8% in the fourth quarter. Sanctuary Advisors LLC now owns 15,712 shares of the company's stock worth $1,983,000 after purchasing an additional 423 shares during the period. Institutional investors own 95.44% of the company's stock.

Tenet Healthcare Trading Down 5.6 %

Shares of THC stock traded down $7.67 during mid-day trading on Friday, reaching $129.57. 1,741,974 shares of the stock traded hands, compared to its average volume of 1,340,176. The stock's fifty day simple moving average is $132.90 and its two-hundred day simple moving average is $147.69. Tenet Healthcare Co. has a 1-year low of $88.98 and a 1-year high of $171.20. The company has a market cap of $12.32 billion, a price-to-earnings ratio of 4.02, a price-to-earnings-growth ratio of 1.01 and a beta of 2.05. The company has a quick ratio of 1.70, a current ratio of 1.78 and a debt-to-equity ratio of 2.25.

Tenet Healthcare (NYSE:THC - Get Free Report) last posted 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 return on equity of 21.88% and a net margin of 15.48%. On average, research analysts anticipate that Tenet Healthcare Co. will post 12.24 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Cantor Fitzgerald restated an "overweight" rating and issued a $177.00 price target on shares of Tenet Healthcare in a research report on Thursday, February 13th. StockNews.com cut Tenet Healthcare from a "buy" rating to a "hold" rating in a research report on Thursday, February 13th. JPMorgan Chase & Co. restated an "overweight" rating and issued a $175.00 price target on shares of Tenet Healthcare in a research report on Tuesday, December 17th. KeyCorp decreased their price target on 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, Wells Fargo & Company lowered Tenet Healthcare from an "overweight" rating to an "equal weight" rating and reduced their price objective for the company from $205.00 to $150.00 in a research note on Monday, November 25th. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Tenet Healthcare presently has a consensus rating of "Moderate Buy" and a consensus price target 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.