WealthTrust Asset Management LLC Invests $731,000 in Tenet Healthcare Co. (NYSE:THC)

WealthTrust Asset Management LLC bought a new position in shares of Tenet Healthcare Co. (NYSE:THC - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 5,791 shares of the company's stock, valued at approximately $731,000.

A number of other large investors have also added to or reduced their stakes in THC. Plato Investment Management Ltd acquired a new position in shares of Tenet Healthcare in the 3rd quarter valued at approximately $28,000. True Wealth Design LLC acquired a new position in Tenet Healthcare during the third quarter valued at approximately $38,000. WR Wealth Planners LLC boosted its holdings in shares of Tenet Healthcare by 2,836.4% in the 4th quarter. WR Wealth Planners LLC now owns 323 shares of the company's stock valued at $41,000 after purchasing an additional 312 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of Tenet Healthcare by 30.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 471 shares of the company's stock worth $59,000 after buying an additional 110 shares in the last quarter. Finally, Kestra Investment Management LLC bought a new stake in shares of Tenet Healthcare during the 4th quarter worth $60,000. Institutional investors and hedge funds own 95.44% of the company's stock.

Insider Activity at Tenet Healthcare

In other news, Director J Robert Kerrey sold 9,525 shares of the stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $125.43, for a total transaction of $1,194,720.75. Following the completion of the transaction, the director now directly owns 27,378 shares of the company's stock, valued at $3,434,022.54. This represents a 25.81 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.93% of the stock is owned by company insiders.

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Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Wells Fargo & Company cut shares of Tenet Healthcare from an "overweight" rating to an "equal weight" rating and dropped their target price for the stock from $205.00 to $150.00 in a report on Monday, November 25th. StockNews.com upgraded shares of Tenet Healthcare from a "hold" rating to a "buy" rating in a research report on Thursday, March 13th. The Goldman Sachs Group cut Tenet Healthcare from a "buy" rating to a "neutral" rating and dropped their price target for the company from $196.00 to $140.00 in a research note on Monday, December 16th. Cantor Fitzgerald restated an "overweight" rating and set a $177.00 price objective on shares of Tenet Healthcare in a research report on Thursday, February 13th. Finally, TD Cowen initiated coverage on Tenet Healthcare in a report on Wednesday, February 26th. They set a "buy" rating and a $175.00 price target on the stock. Three analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Tenet Healthcare presently has an average rating of "Moderate Buy" and a consensus price target of $163.88.

Tenet Healthcare Stock Down 1.3 %

NYSE THC traded down $1.68 during trading hours on Thursday, hitting $126.07. The company's stock had a trading volume of 962,509 shares, compared to its average volume of 1,410,768. The company has a market capitalization of $11.99 billion, a PE ratio of 3.91, a price-to-earnings-growth ratio of 1.02 and a beta of 2.06. The company's 50-day simple moving average is $132.39 and its two-hundred day simple moving average is $143.83. Tenet Healthcare Co. has a 52 week low of $90.03 and a 52 week high of $171.20. The company has a current ratio of 1.78, a quick ratio of 1.70 and a debt-to-equity ratio of 2.25.

Tenet Healthcare (NYSE:THC - Get Free Report) last announced its earnings results on Wednesday, February 12th. The company reported $3.44 earnings per share for the quarter, topping analysts' consensus estimates of $2.95 by $0.49. Tenet Healthcare had a return on equity of 21.88% and a net margin of 15.48%. Research analysts anticipate that Tenet Healthcare Co. will post 12.24 EPS for the current fiscal year.

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.