Signaturefd LLC Raises Holdings in Tenet Healthcare Co. (NYSE:THC)

Signaturefd LLC raised its stake in Tenet Healthcare Co. (NYSE:THC) by 24.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 784 shares of the company’s stock after acquiring an additional 156 shares during the quarter. Signaturefd LLC’s holdings in Tenet Healthcare were worth $99,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. True Wealth Design LLC purchased a new stake in Tenet Healthcare during the third quarter worth $38,000. WR Wealth Planners LLC boosted its stake 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 worth $41,000 after acquiring an additional 312 shares in the last quarter. Smartleaf Asset Management LLC grew its position in shares of Tenet Healthcare by 30.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 471 shares of the company’s stock valued at $59,000 after acquiring an additional 110 shares during the period. Kestra Investment Management LLC acquired a new position in Tenet Healthcare in the 4th quarter worth about $60,000. Finally, Hantz Financial Services Inc. acquired a new stake in Tenet Healthcare in the third quarter valued at approximately $83,000. Institutional investors and hedge funds own 95.44% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. The Goldman Sachs Group downgraded Tenet Healthcare from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $196.00 to $140.00 in a research note on Monday, December 16th. 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. KeyCorp decreased their price target on shares of Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. Cantor Fitzgerald reiterated an “overweight” rating and set a $177.00 price objective on shares of Tenet Healthcare in a research note on Thursday, February 13th. Finally, Barclays decreased their target price on Tenet Healthcare from $190.00 to $161.00 and set an “overweight” rating on the stock in a research report on Thursday, February 13th. Three research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $163.88.

Insider Activity

In related news, Director J Robert Kerrey sold 9,525 shares of the business’s stock in a transaction dated 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 sale, the director now directly owns 27,378 shares in the company, valued at approximately $3,434,022.54. The trade was a 25.81 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.93% of the company’s stock.

Tenet Healthcare Trading Down 2.7 %

Shares of THC opened at $122.87 on Monday. The company has a current ratio of 1.78, a quick ratio of 1.70 and a debt-to-equity ratio of 2.25. The firm has a 50-day moving average price of $132.20 and a 200 day moving average price of $143.15. Tenet Healthcare Co. has a 12-month low of $90.03 and a 12-month high of $171.20. The firm has a market capitalization of $11.69 billion, a P/E ratio of 3.81, a P/E/G ratio of 1.02 and a beta of 2.06.

Tenet Healthcare (NYSE:THC) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $3.44 earnings per share (EPS) for the quarter, topping 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 forecast that Tenet Healthcare Co. will post 12.24 EPS for the current year.

Tenet Healthcare Company 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.