Catalyst Funds Management Pty Ltd Grows Position in Tenet Healthcare Co. (NYSE:THC)

Catalyst Funds Management Pty Ltd increased its stake in shares of Tenet Healthcare Co. (NYSE:THC - Free Report) by 26.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,900 shares of the company's stock after purchasing an additional 2,300 shares during the period. Catalyst Funds Management Pty Ltd's holdings in Tenet Healthcare were worth $1,376,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Coldstream Capital Management Inc. boosted its position in Tenet Healthcare by 2.2% during the 3rd quarter. Coldstream Capital Management Inc. now owns 3,406 shares of the company's stock worth $566,000 after purchasing an additional 74 shares during the period. EverSource Wealth Advisors LLC boosted its position in Tenet Healthcare by 9.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 940 shares of the company's stock valued at $119,000 after buying an additional 80 shares during the last quarter. Spire Wealth Management boosted its position in Tenet Healthcare by 19.5% in the 4th quarter. Spire Wealth Management now owns 558 shares of the company's stock valued at $70,000 after buying an additional 91 shares during the last quarter. CIBC Asset Management Inc boosted its position in Tenet Healthcare by 3.4% in the 3rd quarter. CIBC Asset Management Inc now owns 2,887 shares of the company's stock valued at $480,000 after buying an additional 94 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its position in Tenet Healthcare by 1.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 8,109 shares of the company's stock valued at $1,024,000 after buying an additional 100 shares during the last quarter. 95.44% of the stock is currently owned by institutional investors and hedge funds.

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Insider Activity at Tenet Healthcare

In other news, Director J Robert Kerrey sold 9,525 shares of Tenet Healthcare stock in a transaction on Tuesday, March 11th. The shares were 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 $3,434,022.54. The trade was a 25.81 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.93% of the stock is currently owned by insiders.

Tenet Healthcare Stock Performance

THC stock traded up $2.36 during trading hours on Wednesday, reaching $127.69. The stock had a trading volume of 838,307 shares, compared to its average volume of 1,419,388. The stock has a market capitalization of $12.15 billion, a PE ratio of 3.96, a price-to-earnings-growth ratio of 1.02 and a beta of 2.06. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.78 and a quick ratio of 1.70. The stock has a 50-day simple moving average of $132.44 and a 200 day simple moving average of $143.95. Tenet Healthcare Co. has a fifty-two week low of $90.03 and a fifty-two week high of $171.20.

Tenet Healthcare (NYSE:THC - Get Free Report) last released its quarterly earnings results 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%. Analysts predict that Tenet Healthcare Co. will post 12.24 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on THC shares. Truist Financial dropped their price objective on shares of Tenet Healthcare from $190.00 to $175.00 and set a "buy" rating on the stock in a research note on Monday, January 6th. JPMorgan Chase & Co. reiterated an "overweight" rating and set a $175.00 price objective on shares of Tenet Healthcare in a research note on Tuesday, December 17th. KeyCorp lowered their price objective on shares of Tenet Healthcare from $200.00 to $185.00 and set an "overweight" rating on the stock in a research note on Tuesday, January 7th. Barclays lowered their price objective on shares of Tenet Healthcare from $190.00 to $161.00 and set an "overweight" rating on the stock in a research note on Thursday, February 13th. Finally, Raymond James lowered shares of Tenet Healthcare from a "strong-buy" rating to an "outperform" rating and set a $195.00 price target on the stock. in a research report on Friday, November 22nd. Three 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's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $163.88.

Tenet Healthcare Company 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.