Signet Financial Management LLC Buys Shares of 12,086 Tenet Healthcare Co. (NYSE:THC)

Signet Financial Management LLC purchased a new position in Tenet Healthcare Co. (NYSE:THC - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 12,086 shares of the company's stock, valued at approximately $1,526,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Coldstream Capital Management Inc. lifted its holdings in shares of 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 purchasing an additional 74 shares during the last quarter. Optas LLC raised its position in shares of Tenet Healthcare by 3.4% during the 3rd quarter. Optas LLC now owns 2,821 shares of the company's stock worth $469,000 after purchasing an additional 93 shares during the last quarter. Signaturefd LLC boosted its position in Tenet Healthcare by 17.6% during the third quarter. Signaturefd LLC now owns 628 shares of the company's stock worth $104,000 after acquiring an additional 94 shares during the last quarter. CIBC Asset Management Inc grew its stake in Tenet Healthcare by 3.4% during the third quarter. CIBC Asset Management Inc now owns 2,887 shares of the company's stock worth $480,000 after buying an additional 94 shares during the period. Finally, EverSource Wealth Advisors LLC grew its stake in Tenet Healthcare by 20.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 560 shares of the company's stock valued at $74,000 after purchasing an additional 96 shares in the last quarter. Institutional investors and hedge funds own 95.44% of the company's stock.

Insider Buying and Selling

In other Tenet Healthcare news, EVP Lisa Y. Foo sold 4,000 shares of the business's stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $155.94, for a total transaction of $623,760.00. Following the completion of the sale, the executive vice president now directly owns 15,566 shares in the company, valued at approximately $2,427,362.04. The trade was a 20.44 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.93% of the stock is currently owned by insiders.

Tenet Healthcare Price Performance

NYSE:THC traded up $1.00 during trading hours on Monday, hitting $128.97. The stock had a trading volume of 1,136,661 shares, compared to its average volume of 1,133,205. The company has a debt-to-equity ratio of 2.35, a current ratio of 1.58 and a quick ratio of 1.52. The company has a 50 day simple moving average of $141.17 and a two-hundred day simple moving average of $148.29. The firm has a market capitalization of $12.26 billion, a price-to-earnings ratio of 4.13, a P/E/G ratio of 0.61 and a beta of 2.06. Tenet Healthcare Co. has a one year low of $78.03 and a one year high of $171.20.

Tenet Healthcare (NYSE:THC - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The company reported $2.93 earnings per share for the quarter, beating analysts' consensus estimates of $2.33 by $0.60. The business had revenue of $5.12 billion for the quarter, compared to the consensus estimate of $5.05 billion. Tenet Healthcare had a return on equity of 24.05% and a net margin of 14.91%. The company's revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter last year, the business posted $1.44 earnings per share. Research analysts forecast that Tenet Healthcare Co. will post 11.38 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Raymond James downgraded 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 report on Friday, November 22nd. StockNews.com cut shares of Tenet Healthcare from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, December 17th. KeyCorp lowered their price target on Tenet Healthcare from $200.00 to $185.00 and set an "overweight" rating on the stock in a research report on Tuesday, January 7th. Royal Bank of Canada increased their price objective on shares of Tenet Healthcare from $174.00 to $183.00 and gave the company an "outperform" rating in a research note on Wednesday, October 30th. Finally, The Goldman Sachs Group cut 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 analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Tenet Healthcare currently has an average rating of "Moderate Buy" and a consensus price target of $165.00.

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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