FORA Capital LLC Invests $2.27 Million in Tenet Healthcare Co. (NYSE:THC)

FORA Capital LLC acquired a new position in Tenet Healthcare Co. (NYSE:THC) in the 4th quarter, HoldingsChannel.com reports. The fund acquired 18,017 shares of the company’s stock, valued at approximately $2,274,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Colonial Trust Co SC lifted its holdings in Tenet Healthcare by 85.7% during the 4th quarter. Colonial Trust Co SC now owns 247 shares of the company’s stock worth $31,000 after purchasing an additional 114 shares in the last quarter. GeoWealth Management LLC boosted its position in shares of Tenet Healthcare by 39.8% in the fourth quarter. GeoWealth Management LLC now owns 295 shares of the company’s stock valued at $37,000 after acquiring an additional 84 shares during the period. WR Wealth Planners LLC grew its stake in Tenet Healthcare by 2,836.4% during 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 in the last quarter. Smartleaf Asset Management LLC lifted its stake in Tenet Healthcare by 30.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 471 shares of the company’s stock worth $59,000 after purchasing an additional 110 shares in the last quarter. Finally, Kestra Investment Management LLC bought a new position in Tenet Healthcare in the 4th quarter valued at $60,000. Institutional investors own 95.44% of the company’s stock.

Insiders Place Their Bets

In related news, Director J Robert Kerrey sold 9,525 shares of the stock in a transaction on 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 sale, the director now owns 27,378 shares in the company, valued at approximately $3,434,022.54. This represents a 25.81 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.81% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on THC shares. The Goldman Sachs Group upped their target price on Tenet Healthcare from $134.00 to $154.00 and gave the stock a “neutral” rating in a research note on Monday. StockNews.com raised shares of Tenet Healthcare from a “hold” rating to a “buy” rating in a research note on Thursday, May 1st. Baird R W cut shares of Tenet Healthcare from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 15th. Barclays increased their target price on Tenet Healthcare from $161.00 to $171.00 and gave the company an “overweight” rating in a research note on Wednesday, April 30th. Finally, Guggenheim initiated coverage on Tenet Healthcare in a research report on Wednesday, April 9th. They set a “buy” rating and a $165.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $173.69.

Tenet Healthcare Trading Down 2.2 %

THC stock opened at $148.97 on Friday. The company has a market capitalization of $13.84 billion, a price-to-earnings ratio of 4.62, a PEG ratio of 1.02 and a beta of 1.63. 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 Co. has a 1-year low of $109.82 and a 1-year high of $171.20. The business has a 50 day simple moving average of $128.86 and a two-hundred day simple moving average of $136.14.

Tenet Healthcare (NYSE:THC) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $4.36 EPS for the quarter, topping the consensus estimate of $3.11 by $1.25. The business had revenue of $5.22 billion for the quarter, compared to analysts’ expectations of $5.15 billion. Tenet Healthcare had a net margin of 15.48% and a return on equity of 21.88%. The business’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.22 EPS. Research analysts anticipate that Tenet Healthcare Co. will post 12.24 EPS for the current fiscal year.

Tenet Healthcare 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.