Tenet Healthcare Co. (NYSE:THC) Shares Purchased by Lecap Asset Management Ltd.

Lecap Asset Management Ltd. boosted its position in shares of Tenet Healthcare Co. (NYSE:THC - Free Report) by 152.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,189 shares of the company's stock after purchasing an additional 2,531 shares during the period. Lecap Asset Management Ltd.'s holdings in Tenet Healthcare were worth $529,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of THC. Plato Investment Management Ltd purchased a new position in Tenet Healthcare during the third quarter worth about $28,000. ORG Wealth Partners LLC acquired a new stake in shares of Tenet Healthcare during the third quarter valued at about $30,000. Financial Management Professionals Inc. increased its position in shares of Tenet Healthcare by 2,222.2% during the third quarter. Financial Management Professionals Inc. now owns 209 shares of the company's stock valued at $35,000 after acquiring an additional 200 shares during the last quarter. True Wealth Design LLC acquired a new stake in shares of Tenet Healthcare during the third quarter valued at about $38,000. Finally, Spire Wealth Management increased its position in shares of Tenet Healthcare by 19.5% during 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 last quarter. 95.44% of the stock is owned by hedge funds and other institutional investors.

Tenet Healthcare Trading Down 9.0 %

Shares of NYSE THC traded down $12.54 during midday trading on Wednesday, reaching $126.29. 4,550,880 shares of the stock were exchanged, compared to its average volume of 1,172,753. The company has a market capitalization of $12.01 billion, a P/E ratio of 4.05, a P/E/G ratio of 0.63 and a beta of 2.05. Tenet Healthcare Co. has a 52-week low of $86.90 and a 52-week high of $171.20. The company has a current ratio of 1.58, a quick ratio of 1.52 and a debt-to-equity ratio of 2.35. The stock has a 50 day moving average price of $133.85 and a 200-day moving average price of $148.52.

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 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.

Analysts Set New Price Targets

Several equities research analysts recently weighed in 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 on the stock in a research note on Monday, January 6th. KeyCorp lowered their target price on shares of Tenet Healthcare from $200.00 to $185.00 and set an "overweight" rating for the company in a report on Tuesday, January 7th. UBS Group increased their price target on shares of Tenet Healthcare from $197.00 to $217.00 and gave the stock a "buy" rating in a research note on Wednesday, October 30th. Raymond James cut shares of Tenet Healthcare from a "strong-buy" rating to an "outperform" rating and set a $195.00 price target for the company. in a research note on Friday, November 22nd. Finally, The Goldman Sachs Group cut shares of Tenet Healthcare from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $196.00 to $140.00 in a research note on Monday, December 16th. Three research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Tenet Healthcare presently has an average rating of "Moderate Buy" and an average target price of $165.00.

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.