Proficio Capital Partners LLC Invests $5.83 Million in Tenet Healthcare Co. (NYSE:THC)

Proficio Capital Partners LLC bought a new position in Tenet Healthcare Co. (NYSE:THC) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 46,200 shares of the company’s stock, valued at approximately $5,832,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. True Wealth Design LLC bought a new position in shares of Tenet Healthcare in the third quarter worth about $38,000. WR Wealth Planners LLC boosted its position in shares of Tenet Healthcare by 2,836.4% in the fourth quarter. WR Wealth Planners LLC now owns 323 shares of the company’s stock valued at $41,000 after acquiring an additional 312 shares during the period. Smartleaf Asset Management LLC increased its position in Tenet Healthcare by 30.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 471 shares of the company’s stock worth $59,000 after acquiring an additional 110 shares during the period. Kestra Investment Management LLC acquired a new position in Tenet Healthcare during the 4th quarter valued at $60,000. Finally, Hantz Financial Services Inc. acquired a new stake in Tenet Healthcare in the 3rd quarter worth $83,000. Institutional investors and hedge funds own 95.44% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on THC shares. StockNews.com upgraded shares of Tenet Healthcare from a “hold” rating to a “buy” rating in a research note on Thursday. KeyCorp reduced their price objective on Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. JPMorgan Chase & Co. restated an “overweight” rating and issued a $175.00 target price on shares of Tenet Healthcare in a research note on Tuesday, December 17th. Cantor Fitzgerald reiterated an “overweight” rating and set a $177.00 price target on shares of Tenet Healthcare in a research note on Thursday, February 13th. Finally, Raymond James cut shares of Tenet Healthcare from a “strong-buy” rating to an “outperform” rating and set a $195.00 price objective for the company. in a research note on Friday, November 22nd. Three investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $163.88.

Insider Transactions at Tenet Healthcare

In related news, Director J Robert Kerrey sold 9,525 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $125.43, for a total value of $1,194,720.75. Following the completion of the transaction, the director now owns 27,378 shares in the company, valued at $3,434,022.54. The trade was a 25.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.93% of the stock is owned by company insiders.

Tenet Healthcare Stock Up 2.7 %

Shares of THC opened at $122.76 on Monday. The business’s 50 day simple moving average is $132.46 and its 200-day simple moving average is $144.49. Tenet Healthcare Co. has a one year low of $90.03 and a one year high of $171.20. The company has a market capitalization of $11.68 billion, a P/E ratio of 3.81, a PEG ratio of 1.02 and a beta of 2.06. 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) last announced its earnings results on Wednesday, February 12th. The company reported $3.44 EPS for the quarter, topping 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%. As a group, sell-side analysts predict that Tenet Healthcare Co. will post 12.24 EPS for the current fiscal 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.