180 Wealth Advisors LLC Acquires Shares of 2,292 Tenet Healthcare Co. (NYSE:THC)

180 Wealth Advisors LLC acquired a new stake in Tenet Healthcare Co. (NYSE:THC) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 2,292 shares of the company’s stock, valued at approximately $241,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in THC. Norges Bank bought a new position in shares of Tenet Healthcare during the fourth quarter valued at approximately $78,254,000. Glenview Capital Management LLC raised its holdings in shares of Tenet Healthcare by 12.8% during the fourth quarter. Glenview Capital Management LLC now owns 7,742,322 shares of the company’s stock valued at $585,087,000 after acquiring an additional 877,180 shares in the last quarter. 8 Knots Management LLC bought a new position in shares of Tenet Healthcare during the fourth quarter valued at approximately $44,412,000. Greenlight Capital Inc. raised its holdings in Tenet Healthcare by 44.3% in the fourth quarter. Greenlight Capital Inc. now owns 1,315,970 shares of the company’s stock worth $99,448,000 after purchasing an additional 404,190 shares in the last quarter. Finally, Hsbc Holdings PLC raised its holdings in Tenet Healthcare by 113.0% in the fourth quarter. Hsbc Holdings PLC now owns 453,624 shares of the company’s stock worth $34,266,000 after purchasing an additional 240,611 shares in the last quarter. Institutional investors own 95.44% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on THC shares. Wells Fargo & Company increased their price objective on Tenet Healthcare from $105.00 to $115.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Royal Bank of Canada increased their target price on Tenet Healthcare from $109.00 to $136.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft increased their target price on Tenet Healthcare from $150.00 to $155.00 and gave the stock a “buy” rating in a research note on Friday. Stephens increased their target price on Tenet Healthcare from $95.00 to $122.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 1st. Finally, Barclays increased their target price on Tenet Healthcare from $113.00 to $147.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. One equities research analyst has rated the stock with a hold rating, fifteen have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $120.71.

Tenet Healthcare Stock Down 3.8 %

NYSE THC opened at $133.03 on Friday. The stock’s 50-day moving average price is $127.08 and its 200-day moving average price is $102.37. The company has a quick ratio of 1.37, a current ratio of 1.44 and a debt-to-equity ratio of 2.58. Tenet Healthcare Co. has a 52 week low of $51.04 and a 52 week high of $142.35. The company has a market capitalization of $12.99 billion, a P/E ratio of 5.16, a price-to-earnings-growth ratio of 1.43 and a beta of 2.12.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $3.22 EPS for the quarter, topping the consensus estimate of $1.45 by $1.77. Tenet Healthcare had a return on equity of 26.76% and a net margin of 12.53%. The firm had revenue of $5.37 billion for the quarter, compared to the consensus estimate of $5.15 billion. During the same quarter last year, the company earned $1.42 earnings per share. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. On average, equities research analysts predict that Tenet Healthcare Co. will post 8.55 earnings per share for the current year.

Insider Activity at Tenet Healthcare

In related news, EVP Thomas W. Arnst sold 8,148 shares of Tenet Healthcare stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $116.10, for a total transaction of $945,982.80. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Tenet Healthcare news, Director Richard W. Fisher sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $123.20, for a total transaction of $308,000.00. Following the completion of the transaction, the director now owns 17,627 shares in the company, valued at approximately $2,171,646.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Thomas W. Arnst sold 8,148 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $116.10, for a total value of $945,982.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 24,691 shares of company stock valued at $3,117,909. 0.93% of the stock is owned by company insiders.

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.