Raymond James Financial Inc. Purchases Shares of 388,181 Tenet Healthcare Co. (NYSE:THC)

Raymond James Financial Inc. purchased a new stake in shares of Tenet Healthcare Co. (NYSE:THC - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 388,181 shares of the company's stock, valued at approximately $49,001,000. Raymond James Financial Inc. owned 0.41% of Tenet Healthcare as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. New Wave Wealth Advisors LLC purchased a new stake in Tenet Healthcare during the fourth quarter valued at about $343,000. Swedbank AB raised its stake in shares of Tenet Healthcare by 100.0% during the fourth quarter. Swedbank AB now owns 40,000 shares of the company's stock valued at $5,049,000 after acquiring an additional 20,000 shares during the last quarter. Signet Financial Management LLC bought a new position in shares of Tenet Healthcare during the fourth quarter valued at about $1,526,000. China Universal Asset Management Co. Ltd. bought a new position in shares of Tenet Healthcare during the fourth quarter valued at about $410,000. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in shares of Tenet Healthcare during the fourth quarter valued at about $5,892,000. 95.44% of the stock is currently owned by hedge funds and other institutional investors.

Tenet Healthcare Price Performance

Shares of THC opened at $126.29 on Wednesday. The stock has a market cap of $12.01 billion, a PE ratio of 3.92, 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 quick ratio of 1.70 and a current ratio of 1.78. Tenet Healthcare Co. has a fifty-two week low of $90.03 and a fifty-two week high of $171.20. The firm's 50-day simple moving average is $132.68 and its two-hundred day simple moving average is $145.38.

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Tenet Healthcare (NYSE:THC - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $3.44 EPS for the quarter, beating 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 anticipate that Tenet Healthcare Co. will post 12.24 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on THC shares. Raymond James downgraded shares of Tenet Healthcare from a "strong-buy" rating to an "outperform" rating and set a $195.00 price objective for the company. in a research note on Friday, November 22nd. KeyCorp lowered their price objective on shares of Tenet Healthcare from $200.00 to $185.00 and set an "overweight" rating for the company in a research note on Tuesday, January 7th. StockNews.com downgraded shares of Tenet Healthcare from a "buy" rating to a "hold" rating in a research note on Wednesday, March 5th. TD Cowen started coverage on shares of Tenet Healthcare in a research note on Wednesday, February 26th. They issued a "buy" rating and a $175.00 price target for the company. Finally, The Goldman Sachs Group downgraded 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. Four equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $163.88.

About Tenet Healthcare

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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