Susquehanna Advisors Group Inc. bought a new position in shares of Tenet Healthcare Co. (NYSE:THC - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 15,000 shares of the company's stock, valued at approximately $1,893,000.
A number of other hedge funds have also bought and sold shares of the business. GeoWealth Management LLC increased its holdings in Tenet Healthcare by 39.8% in 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. WR Wealth Planners LLC boosted its stake 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 boosted its stake in shares of Tenet Healthcare by 30.5% in the 4th 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. Kestra Investment Management LLC acquired a new stake in shares of Tenet Healthcare in the 4th quarter valued at approximately $60,000. Finally, Wilmington Savings Fund Society FSB boosted its stake in shares of Tenet Healthcare by 1,352.8% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 523 shares of the company's stock valued at $66,000 after purchasing an additional 487 shares in the last quarter. 95.44% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of research firms have recently weighed in on THC. TD Cowen began 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 on the stock. Baird R W downgraded shares of Tenet Healthcare from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 15th. Barclays cut their target price on shares of Tenet Healthcare from $190.00 to $161.00 and set an "overweight" rating on the stock in a research report on Thursday, February 13th. Robert W. Baird reiterated a "neutral" rating and set a $137.00 target price (down from $153.00) on shares of Tenet Healthcare in a research report on Tuesday, April 15th. Finally, Truist Financial cut their target price on shares of Tenet Healthcare from $190.00 to $175.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. Five research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. According to data from MarketBeat, Tenet Healthcare currently has an average rating of "Moderate Buy" and a consensus target price of $165.44.
Read Our Latest Analysis on THC
Tenet Healthcare Stock Down 1.8 %
Shares of THC traded down $2.25 during trading hours on Friday, hitting $121.99. The stock had a trading volume of 1,181,748 shares, compared to its average volume of 1,513,890. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.78 and a quick ratio of 1.70. The firm has a 50 day simple moving average of $126.50 and a 200-day simple moving average of $136.79. The firm has a market capitalization of $11.51 billion, a P/E ratio of 3.78, a price-to-earnings-growth ratio of 1.02 and a beta of 1.77. Tenet Healthcare Co. has a 1-year low of $92.01 and a 1-year high of $171.20.
Tenet Healthcare (NYSE:THC - Get Free Report) last issued its earnings results on Wednesday, February 12th. The company reported $3.44 EPS for the quarter, beating the consensus estimate of $2.95 by $0.49. Tenet Healthcare had a return on equity of 21.88% and a net margin of 15.48%. Sell-side analysts predict that Tenet Healthcare Co. will post 12.24 EPS for the current fiscal year.
Insider Buying and Selling at Tenet Healthcare
In other Tenet Healthcare news, Director J Robert Kerrey sold 9,525 shares of Tenet Healthcare stock in a transaction dated 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 completion of the transaction, the director now owns 27,378 shares in the company, valued at approximately $3,434,022.54. The trade was a 25.81 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.81% of the company's stock.
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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