New Age Alpha Advisors LLC purchased a new position in Tenet Healthcare Co. (NYSE:THC - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 54,692 shares of the company's stock, valued at approximately $6,904,000. New Age Alpha Advisors LLC owned 0.06% of Tenet Healthcare at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in THC. Coldstream Capital Management Inc. increased its holdings in Tenet Healthcare by 2.2% in the 3rd 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 last quarter. EverSource Wealth Advisors LLC lifted its position 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 in the last quarter. Spire Wealth Management grew its holdings 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 buying an additional 91 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Tenet Healthcare by 1.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 8,109 shares of the company's stock worth $1,024,000 after acquiring an additional 100 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its holdings in shares of Tenet Healthcare by 30.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 471 shares of the company's stock valued at $59,000 after purchasing an additional 110 shares in the last quarter. 95.44% of the stock is owned by hedge funds and other institutional investors.
Tenet Healthcare Price Performance
Shares of Tenet Healthcare stock traded up $0.68 during mid-day trading on Tuesday, reaching $135.18. 249,993 shares of the stock traded hands, compared to its average volume of 1,479,049. 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 business has a 50-day moving average of $132.51 and a 200 day moving average of $142.15. The stock has a market capitalization of $12.86 billion, a PE ratio of 4.19, a PEG ratio of 1.02 and a beta of 2.06. 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 announced its earnings results on Wednesday, February 12th. The company reported $3.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.95 by $0.49. Tenet Healthcare had a net margin of 15.48% and a return on equity of 21.88%. On average, analysts predict that Tenet Healthcare Co. will post 12.24 EPS for the current year.
Insider Transactions at Tenet Healthcare
In other Tenet Healthcare news, Director J Robert Kerrey sold 9,525 shares of the business's stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $125.43, for a total transaction of $1,194,720.75. Following the transaction, the director now owns 27,378 shares of the company's stock, valued at approximately $3,434,022.54. The trade was a 25.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.93% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages have issued reports on THC. TD Cowen initiated 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 dropped their price objective on shares of Tenet Healthcare from $190.00 to $161.00 and set an "overweight" rating for the company in a research note on Thursday, February 13th. Truist Financial lowered their target price on shares of Tenet Healthcare from $190.00 to $175.00 and set a "buy" rating for the company in a report on Monday, January 6th. The Goldman Sachs Group downgraded 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 research report on Monday, December 16th. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $177.00 target price on shares of Tenet Healthcare in a research note on Thursday, February 13th. Three investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $166.41.
Check Out Our Latest Stock Analysis on THC
Tenet Healthcare Company Profile
(
Free Report)
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.
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