FORA Capital LLC Takes $2.27 Million Position in Tenet Healthcare Co. (NYSE:THC)

FORA Capital LLC acquired a new stake in Tenet Healthcare Co. (NYSE:THC - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 18,017 shares of the company's stock, valued at approximately $2,274,000.

Other hedge funds have also recently bought and sold shares of the company. EverSource Wealth Advisors LLC raised its position in Tenet Healthcare by 9.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 940 shares of the company's stock worth $119,000 after buying an additional 80 shares during the last quarter. GeoWealth Management LLC boosted its stake in shares of Tenet Healthcare by 39.8% during the 4th quarter. GeoWealth Management LLC now owns 295 shares of the company's stock valued at $37,000 after buying an additional 84 shares during the period. Spire Wealth Management increased its stake in shares of Tenet Healthcare by 19.5% in the fourth quarter. Spire Wealth Management now owns 558 shares of the company's stock worth $70,000 after purchasing an additional 91 shares during the period. CIBC Private Wealth Group LLC boosted its holdings in shares of Tenet Healthcare by 1.7% in the 4th quarter. CIBC Private Wealth Group LLC now owns 5,619 shares of the company's stock worth $732,000 after acquiring an additional 92 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its position 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 valued at $1,024,000 after acquiring an additional 100 shares during the last quarter. 95.44% of the stock is owned by hedge funds and other institutional investors.

Tenet Healthcare Trading Up 1.1%

Shares of NYSE:THC traded up $1.74 during trading on Wednesday, reaching $159.44. 1,062,082 shares of the company were exchanged, compared to its average volume of 1,534,945. Tenet Healthcare Co. has a 12-month low of $109.82 and a 12-month high of $171.20. The business's fifty day simple moving average is $130.60 and its 200-day simple moving average is $136.09. The firm has a market capitalization of $14.81 billion, a PE ratio of 4.95, a P/E/G ratio of 1.02 and a beta of 1.63. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.78 and a quick ratio of 1.70.

Tenet Healthcare (NYSE:THC - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $4.36 EPS for the quarter, beating analysts' consensus estimates of $3.11 by $1.25. The business had revenue of $5.22 billion during the quarter, compared to analysts' expectations of $5.15 billion. Tenet Healthcare had a return on equity of 21.88% and a net margin of 15.48%. The business's revenue was down 2.5% compared to the same quarter last year. During the same period in the previous year, the business earned $3.22 earnings per share. On average, research analysts anticipate that Tenet Healthcare Co. will post 12.24 EPS for the current year.

Insider Buying and Selling

In other news, Director J Robert Kerrey sold 5,001 shares of the business's stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $148.50, for a total transaction of $742,648.50. Following the completion of the transaction, the director now directly owns 22,377 shares in the company, valued at approximately $3,322,984.50. The trade was a 18.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.81% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. UBS Group upped their price target on Tenet Healthcare from $217.00 to $230.00 and gave the company a "buy" rating in a research report on Wednesday, April 30th. Morgan Stanley increased their target price on Tenet Healthcare from $165.00 to $175.00 and gave the stock an "overweight" rating in a research note on Monday, May 5th. TD Cowen initiated coverage on Tenet Healthcare in a report on Wednesday, February 26th. They set a "buy" rating and a $175.00 target price on the stock. Royal Bank of Canada lifted their price objective on Tenet Healthcare from $183.00 to $189.00 and gave the company an "outperform" rating in a report on Wednesday, April 30th. Finally, Baird R W lowered Tenet Healthcare from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 15th. Four research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $174.94.

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.