Smartleaf Asset Management LLC Purchases 110 Shares of Tenet Healthcare Co. (NYSE:THC)

Smartleaf Asset Management LLC raised its position in Tenet Healthcare Co. (NYSE:THC) by 30.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 471 shares of the company’s stock after purchasing an additional 110 shares during the period. Smartleaf Asset Management LLC’s holdings in Tenet Healthcare were worth $59,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Plato Investment Management Ltd purchased a new stake in shares of Tenet Healthcare during the 3rd quarter valued at $28,000. True Wealth Design LLC purchased a new stake in shares of Tenet Healthcare during the 3rd quarter valued at $38,000. WR Wealth Planners LLC raised its position in shares of Tenet Healthcare by 2,836.4% during the 4th quarter. WR Wealth Planners LLC now owns 323 shares of the company’s stock valued at $41,000 after buying an additional 312 shares in the last quarter. Kestra Investment Management LLC purchased a new stake in shares of Tenet Healthcare during the 4th quarter valued at $60,000. Finally, Wilmington Savings Fund Society FSB raised its position in shares of Tenet Healthcare by 1,352.8% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 523 shares of the company’s stock valued at $66,000 after buying an additional 487 shares in the last quarter. Hedge funds and other institutional investors own 95.44% of the company’s stock.

Analyst Upgrades and Downgrades

THC has been the topic of several research reports. The Goldman Sachs Group cut shares of Tenet Healthcare from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $196.00 to $140.00 in a research report on Monday, December 16th. Wells Fargo & Company cut shares of Tenet Healthcare from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $205.00 to $150.00 in a research report on Monday, November 25th. TD Cowen initiated coverage on shares of Tenet Healthcare in a research report on Wednesday, February 26th. They issued a “buy” rating and a $175.00 target price on the stock. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $175.00 target price on shares of Tenet Healthcare in a research report on Tuesday, December 17th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $177.00 target price on shares of Tenet Healthcare in a research report on Thursday, February 13th. Four equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $163.88.

Tenet Healthcare Trading Down 1.0 %

Shares of THC opened at $126.21 on Tuesday. The firm’s 50-day moving average price is $132.68 and its 200-day moving average price is $145.65. The firm has a market capitalization of $12.01 billion, a price-to-earnings ratio of 3.92, a PEG ratio of 1.02 and a beta of 2.06. 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 Co. has a 1-year low of $90.03 and a 1-year high of $171.20.

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

About Tenet Healthcare

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.