CFO4Life Group LLC Buys New Position in Tenet Healthcare Co. (NYSE:THC)

CFO4Life Group LLC bought a new position in shares of Tenet Healthcare Co. (NYSE:THC - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 2,479 shares of the company's stock, valued at approximately $313,000.

A number of other large investors have also recently added to or reduced their stakes in the company. Skandinaviska Enskilda Banken AB publ grew its holdings in Tenet Healthcare by 120.1% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 78,800 shares of the company's stock worth $9,883,000 after purchasing an additional 43,000 shares during the period. Avantax Advisory Services Inc. increased its holdings in shares of Tenet Healthcare by 3.0% during the 4th quarter. Avantax Advisory Services Inc. now owns 5,433 shares of the company's stock worth $686,000 after acquiring an additional 157 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake 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 acquiring an additional 80 shares during the period. Wealthfront Advisers LLC acquired a new position in shares of Tenet Healthcare in the fourth quarter valued at $69,059,000. Finally, Inspire Advisors LLC bought a new position in shares of Tenet Healthcare in the fourth quarter valued at about $934,000. Institutional investors and hedge funds own 95.44% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on THC. Raymond James cut 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 report on Friday, November 22nd. Truist Financial dropped their price target on Tenet Healthcare from $190.00 to $175.00 and set a "buy" rating for the company in a report on Monday, January 6th. TD Cowen started coverage on Tenet Healthcare in a research report on Wednesday, February 26th. They set a "buy" rating and a $175.00 price objective on the stock. Barclays reduced their target price on shares of Tenet Healthcare from $190.00 to $161.00 and set an "overweight" rating for the company in a research report on Thursday, February 13th. Finally, The Goldman Sachs Group downgraded 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 report on Monday, December 16th. Three research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Tenet Healthcare currently has an average rating of "Moderate Buy" and a consensus price target of $163.88.

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Tenet Healthcare Price Performance

THC stock traded up $5.42 during midday trading on Monday, reaching $128.09. 1,677,789 shares of the stock were exchanged, compared to its average volume of 1,439,806. The company has a fifty day moving average price of $132.46 and a 200 day moving average price of $144.49. Tenet Healthcare Co. has a 52 week low of $90.03 and a 52 week high of $171.20. The stock has a market capitalization of $12.18 billion, a PE ratio of 3.97, 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 current ratio of 1.78 and a quick ratio of 1.70.

Tenet Healthcare (NYSE:THC - Get Free Report) last issued 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%. As a group, analysts expect that Tenet Healthcare Co. will post 12.24 EPS for the current fiscal year.

Insider Transactions at Tenet Healthcare

In other Tenet Healthcare news, Director J Robert Kerrey sold 9,525 shares of the firm's stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $125.43, for a total transaction of $1,194,720.75. Following the completion of the transaction, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.93% of the stock is owned by corporate insiders.

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.