IFP Advisors Inc Buys 794 Shares of Tenet Healthcare Co. (NYSE:THC)

IFP Advisors Inc grew its stake in shares of Tenet Healthcare Co. (NYSE:THC) by 21.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 4,503 shares of the company’s stock after acquiring an additional 794 shares during the period. IFP Advisors Inc’s holdings in Tenet Healthcare were worth $568,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Plato Investment Management Ltd bought a new position in Tenet Healthcare in the third quarter worth approximately $28,000. True Wealth Design LLC bought a new position in Tenet Healthcare in the third quarter worth approximately $38,000. Kestra Investment Management LLC bought a new position in Tenet Healthcare in the fourth quarter worth approximately $60,000. Wilmington Savings Fund Society FSB raised its stake in Tenet Healthcare by 1,352.8% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 523 shares of the company’s stock worth $66,000 after buying an additional 487 shares in the last quarter. Finally, Spire Wealth Management raised its stake in Tenet Healthcare by 19.5% in the fourth quarter. Spire Wealth Management now owns 558 shares of the company’s stock worth $70,000 after buying an additional 91 shares in the last quarter. Institutional investors own 95.44% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Truist Financial reduced their price objective on shares of Tenet Healthcare from $190.00 to $175.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Raymond James lowered shares of Tenet Healthcare from a “strong-buy” rating to an “outperform” rating and set a $195.00 price target on the stock. in a report on Friday, November 22nd. Wells Fargo & Company lowered shares of Tenet Healthcare from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $205.00 to $150.00 in a report on Monday, November 25th. KeyCorp cut their price target on shares of Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Finally, Barclays cut their price target on shares of Tenet Healthcare from $190.00 to $161.00 and set an “overweight” rating on the stock in a report on Thursday, February 13th. Three equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $163.88.

Tenet Healthcare Trading Down 3.0 %

NYSE THC opened at $126.58 on Friday. The company has a market capitalization of $12.04 billion, a PE ratio of 3.93, a P/E/G ratio of 1.02 and a beta of 2.05. The company has a fifty day moving average of $133.03 and a 200 day moving average of $147.07. Tenet Healthcare Co. has a 1 year low of $90.03 and a 1 year high of $171.20. 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 posted its earnings results on Wednesday, February 12th. The company reported $3.44 earnings per share (EPS) 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%. Research analysts forecast that Tenet Healthcare Co. will post 12.24 earnings per share for the current 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.