Bryce Point Capital LLC Acquires Shares of 3,884 Tenet Healthcare Co. (NYSE:THC)

Bryce Point Capital LLC acquired a new stake in Tenet Healthcare Co. (NYSE:THC - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 3,884 shares of the company's stock, valued at approximately $490,000.

A number of other institutional investors have also made changes to their positions in THC. Coldstream Capital Management Inc. grew its stake in shares of Tenet Healthcare by 2.2% during the third quarter. Coldstream Capital Management Inc. now owns 3,406 shares of the company's stock valued at $566,000 after acquiring an additional 74 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Tenet Healthcare by 9.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 940 shares of the company's stock worth $119,000 after buying an additional 80 shares during the last quarter. Spire Wealth Management boosted its stake in Tenet Healthcare by 19.5% during the 4th quarter. Spire Wealth Management now owns 558 shares of the company's stock valued at $70,000 after acquiring an additional 91 shares during the last quarter. CIBC Private Wealth Group LLC grew its stake in Tenet Healthcare by 1.7% in the fourth quarter. CIBC Private Wealth Group LLC now owns 5,619 shares of the company's stock worth $732,000 after purchasing an additional 92 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in Tenet Healthcare by 1.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 8,109 shares of the company's stock worth $1,024,000 after purchasing an additional 100 shares during the last quarter. 95.44% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on THC shares. JPMorgan Chase & Co. reissued an "overweight" rating and issued a $175.00 price objective on shares of Tenet Healthcare in a report on Tuesday, December 17th. Morgan Stanley assumed coverage on shares of Tenet Healthcare in a research note on Wednesday, March 26th. They issued an "overweight" rating and a $165.00 price objective on the stock. Truist Financial cut their target price 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. KeyCorp dropped their target price 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. Finally, Guggenheim assumed coverage on shares of Tenet Healthcare in a research report on Wednesday. They set a "buy" rating and a $165.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Tenet Healthcare currently has a consensus rating of "Moderate Buy" and a consensus target price of $166.33.

Tenet Healthcare Stock Performance

Tenet Healthcare stock traded down $7.18 during trading on Thursday, hitting $123.89. The stock had a trading volume of 423,097 shares, compared to its average volume of 1,519,859. 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 stock has a market cap of $11.78 billion, a price-to-earnings ratio of 3.84, a price-to-earnings-growth ratio of 1.02 and a beta of 1.77. Tenet Healthcare Co. has a 1 year low of $90.03 and a 1 year high of $171.20. The stock's 50 day moving average is $130.52 and its two-hundred day moving average is $140.18.

Tenet Healthcare (NYSE:THC - Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $3.44 EPS for the quarter, topping the consensus estimate of $2.95 by $0.49. Tenet Healthcare had a return on equity of 21.88% and a net margin of 15.48%. As a group, analysts predict that Tenet Healthcare Co. will post 12.24 EPS for the current year.

Insider Activity

In other Tenet Healthcare news, Director J Robert Kerrey sold 9,525 shares of the stock in a transaction that occurred 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 completion of the sale, the director now owns 27,378 shares in the company, valued at approximately $3,434,022.54. This trade represents a 25.81 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.93% of the company's stock.

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.