Moran Wealth Management LLC Has $308,000 Position in Tenet Healthcare Co. (NYSE:THC)

Moran Wealth Management LLC lifted its stake in shares of Tenet Healthcare Co. (NYSE:THC) by 18.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,439 shares of the company’s stock after acquiring an additional 375 shares during the quarter. Moran Wealth Management LLC’s holdings in Tenet Healthcare were worth $308,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in THC. Plato Investment Management Ltd acquired a new position in shares of Tenet Healthcare in the 3rd quarter worth approximately $28,000. True Wealth Design LLC bought a new position in Tenet Healthcare during the third quarter worth $38,000. WR Wealth Planners LLC boosted its position 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 during the last quarter. Smartleaf Asset Management LLC grew its holdings in Tenet Healthcare by 30.5% during the 4th 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. Finally, Kestra Investment Management LLC acquired a new position in shares of Tenet Healthcare in the 4th quarter valued at about $60,000. 95.44% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director J Robert Kerrey sold 9,525 shares of the stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $125.43, for a total transaction of $1,194,720.75. Following the completion of the transaction, the director now directly owns 27,378 shares of the company’s stock, valued at $3,434,022.54. This represents a 25.81 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.93% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on THC. Wells Fargo & Company cut 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 note on Monday, November 25th. Barclays lowered their price objective on shares of Tenet Healthcare from $190.00 to $161.00 and set an “overweight” rating for the company in a research note on Thursday, February 13th. StockNews.com raised shares of Tenet Healthcare from a “hold” rating to a “buy” rating in a research note on Thursday. Raymond James lowered shares of Tenet Healthcare from a “strong-buy” rating to an “outperform” rating and set a $195.00 price objective on the stock. in a report on Friday, November 22nd. Finally, 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. Three 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $163.88.

Tenet Healthcare Price Performance

Tenet Healthcare stock opened at $121.11 on Thursday. The stock has a market cap of $11.52 billion, a P/E ratio of 3.76, a P/E/G ratio of 1.02 and a beta of 2.06. The company has a quick ratio of 1.70, a current ratio of 1.78 and a debt-to-equity ratio of 2.25. The company’s 50 day moving average price is $132.57 and its two-hundred day moving average price is $145.21. Tenet Healthcare Co. has a 52 week low of $90.03 and a 52 week high of $171.20.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $3.44 earnings per share 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%. On average, equities analysts predict 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.