Tenet Healthcare Co. (NYSE:THC) Shares Purchased by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC lifted its holdings in Tenet Healthcare Co. (NYSE:THC) by 1.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,109 shares of the company’s stock after purchasing an additional 100 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Tenet Healthcare were worth $1,024,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. FMR LLC lifted its position in shares of Tenet Healthcare by 88.0% during the 3rd quarter. FMR LLC now owns 7,700,693 shares of the company’s stock valued at $1,279,855,000 after acquiring an additional 3,604,161 shares during the last quarter. Geode Capital Management LLC increased its stake in Tenet Healthcare by 23.6% in the 3rd quarter. Geode Capital Management LLC now owns 2,044,667 shares of the company’s stock worth $339,893,000 after purchasing an additional 390,316 shares in the last quarter. Iron Triangle Partners LP purchased a new stake in Tenet Healthcare during the third quarter valued at about $51,346,000. Allspring Global Investments Holdings LLC boosted its holdings in shares of Tenet Healthcare by 344.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 317,198 shares of the company’s stock worth $52,718,000 after buying an additional 245,875 shares during the period. Finally, Renaissance Technologies LLC acquired a new stake in shares of Tenet Healthcare during the second quarter valued at approximately $27,454,000. 95.44% of the stock is owned by institutional investors and hedge funds.

Tenet Healthcare Trading Up 1.9 %

Tenet Healthcare stock opened at $130.04 on Thursday. Tenet Healthcare Co. has a one year low of $78.03 and a one year high of $171.20. The company’s fifty day moving average price is $139.72 and its two-hundred day moving average price is $148.18. The company has a market capitalization of $12.37 billion, a price-to-earnings ratio of 4.17, a PEG ratio of 0.61 and a beta of 2.06. The company has a debt-to-equity ratio of 2.35, a current ratio of 1.58 and a quick ratio of 1.52.

Tenet Healthcare (NYSE:THC) last issued its quarterly earnings data 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. Tenet Healthcare had a return on equity of 24.05% and a net margin of 14.91%. The business had revenue of $5.12 billion for the quarter, compared to the consensus estimate of $5.05 billion. During the same period last year, the business earned $1.44 EPS. The firm’s revenue was up 1.1% compared to the same quarter last year. On average, analysts forecast that Tenet Healthcare Co. will post 11.38 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on THC. StockNews.com cut shares of Tenet Healthcare from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, December 17th. Wells Fargo & Company lowered Tenet Healthcare from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $205.00 to $150.00 in a research report on Monday, November 25th. UBS Group raised their price objective on Tenet Healthcare from $197.00 to $217.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Raymond James downgraded Tenet Healthcare from a “strong-buy” rating to an “outperform” rating and set a $195.00 target price on the stock. in a report on Friday, November 22nd. Finally, Cantor Fitzgerald boosted their price objective on shares of Tenet Healthcare from $168.00 to $177.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Three equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Tenet Healthcare currently has an average rating of “Moderate Buy” and an average target price of $165.00.

Insider Buying and Selling

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