Hedeker Wealth LLC Takes $2.46 Million Position in Tenet Healthcare Co. (NYSE:THC)

Hedeker Wealth LLC bought a new stake in Tenet Healthcare Co. (NYSE:THC - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 19,499 shares of the company's stock, valued at approximately $2,461,000.

Other large investors also recently made changes to their positions in the company. Coldstream Capital Management Inc. boosted its position in shares of Tenet Healthcare by 2.2% in 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 during the period. Spire Wealth Management boosted its position in shares of Tenet Healthcare by 19.5% in the fourth 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 period. Optas LLC boosted its position in shares of Tenet Healthcare by 3.4% in the third quarter. Optas LLC now owns 2,821 shares of the company's stock valued at $469,000 after acquiring an additional 93 shares during the period. Signaturefd LLC lifted its position in Tenet Healthcare by 17.6% in the third quarter. Signaturefd LLC now owns 628 shares of the company's stock worth $104,000 after purchasing an additional 94 shares during the period. Finally, CIBC Asset Management Inc lifted its position in Tenet Healthcare by 3.4% in the third quarter. CIBC Asset Management Inc now owns 2,887 shares of the company's stock worth $480,000 after purchasing an additional 94 shares during the period. Institutional investors and hedge funds own 95.44% of the company's stock.

Tenet Healthcare Trading Down 1.0 %

THC stock traded down $1.46 during midday trading on Monday, reaching $139.01. The stock had a trading volume of 714,904 shares, compared to its average volume of 1,011,017. The business has a fifty day simple moving average of $133.96 and a two-hundred day simple moving average of $148.69. 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 firm has a market cap of $13.22 billion, a price-to-earnings ratio of 4.45, a PEG ratio of 0.63 and a beta of 2.05. Tenet Healthcare Co. has a twelve month low of $86.90 and a twelve month high of $171.20.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on THC. Truist Financial reduced their target price on Tenet Healthcare from $190.00 to $175.00 and set a "buy" rating for the company in a research report on Monday, January 6th. KeyCorp reduced their target price on 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 cut Tenet Healthcare from an "overweight" rating to an "equal weight" rating and reduced their target price for the stock from $205.00 to $150.00 in a research report on Monday, November 25th. StockNews.com lowered Tenet Healthcare from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, December 17th. Finally, UBS Group increased their price objective on Tenet Healthcare from $197.00 to $217.00 and gave the stock a "buy" rating in a research note on Wednesday, October 30th. Three investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $165.00.

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.