C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Takes $5.89 Million Position in Tenet Healthcare Co. (NYSE:THC)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in Tenet Healthcare Co. (NYSE:THC - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 46,678 shares of the company's stock, valued at approximately $5,892,000.

Other large investors have also recently modified their holdings of the company. Savant Capital LLC increased its stake in Tenet Healthcare by 10.4% in the fourth quarter. Savant Capital LLC now owns 7,439 shares of the company's stock valued at $939,000 after purchasing an additional 699 shares in the last quarter. Empirical Finance LLC raised its position in Tenet Healthcare by 69.0% in the fourth quarter. Empirical Finance LLC now owns 8,360 shares of the company's stock worth $1,055,000 after acquiring an additional 3,414 shares during the period. Empowered Funds LLC raised its position in shares of Tenet Healthcare by 55.6% in the fourth quarter. Empowered Funds LLC now owns 129,431 shares of the company's stock valued at $16,338,000 after purchasing an additional 46,270 shares during the period. Wilmington Savings Fund Society FSB raised its position in shares of Tenet Healthcare by 1,352.8% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 523 shares of the company's stock valued at $66,000 after purchasing an additional 487 shares during the period. Finally, Lecap Asset Management Ltd. raised its position in shares of Tenet Healthcare by 152.7% in the fourth quarter. Lecap Asset Management Ltd. now owns 4,189 shares of the company's stock valued at $529,000 after purchasing an additional 2,531 shares during the period. Institutional investors own 95.44% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Royal Bank of Canada upped their target price on shares of Tenet Healthcare from $174.00 to $183.00 and gave the stock an "outperform" rating in a report on Wednesday, October 30th. The Goldman Sachs Group cut shares of Tenet Healthcare from a "buy" rating to a "neutral" rating and cut their price objective for the company from $196.00 to $140.00 in a research note on Monday, December 16th. KeyCorp dropped their price target 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. Wells Fargo & Company lowered shares of Tenet Healthcare from an "overweight" rating to an "equal weight" rating and decreased their price objective for the stock from $205.00 to $150.00 in a report on Monday, November 25th. Finally, Truist Financial decreased 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 note on Monday, January 6th. Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $163.19.

Tenet Healthcare Trading Down 0.1 %

NYSE:THC traded down $0.17 on Friday, hitting $133.40. The stock had a trading volume of 1,991,865 shares, compared to its average volume of 951,949. The company has a quick ratio of 1.52, a current ratio of 1.58 and a debt-to-equity ratio of 2.35. The stock has a market cap of $12.69 billion, a price-to-earnings ratio of 4.27, a PEG ratio of 0.63 and a beta of 2.05. The company has a fifty day moving average price of $133.32 and a two-hundred day moving average price of $148.11. Tenet Healthcare Co. has a 1-year low of $88.57 and a 1-year high of $171.20.

Tenet Healthcare (NYSE:THC - Get Free Report) last announced its earnings results on Wednesday, February 12th. The company reported $3.44 earnings per share for the quarter, topping the consensus estimate of $2.95 by $0.49. Tenet Healthcare had a net margin of 14.91% and a return on equity of 24.05%. Equities research analysts expect that Tenet Healthcare Co. will post 11.37 earnings per share for the current fiscal year.

About Tenet Healthcare

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.