Tenet Healthcare Co. (NYSE:THC) Shares Purchased by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd boosted its holdings in shares of Tenet Healthcare Co. (NYSE:THC) by 314.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,360 shares of the company’s stock after buying an additional 10,899 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Tenet Healthcare were worth $1,813,000 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. WR Wealth Planners LLC boosted its stake in Tenet Healthcare by 2,836.4% in the 4th quarter. WR Wealth Planners LLC now owns 323 shares of the company’s stock worth $41,000 after purchasing an additional 312 shares in the last quarter. Smartleaf Asset Management LLC lifted its position 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. Kestra Investment Management LLC purchased a new stake in Tenet Healthcare during the 4th quarter valued at about $60,000. Wilmington Savings Fund Society FSB increased its holdings in shares of Tenet Healthcare by 1,352.8% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 523 shares of the company’s stock valued at $66,000 after purchasing an additional 487 shares during the period. Finally, Spire Wealth Management lifted its holdings in shares of Tenet Healthcare by 19.5% during the fourth quarter. Spire Wealth Management now owns 558 shares of the company’s stock worth $70,000 after purchasing an additional 91 shares during the period. Institutional investors and hedge funds own 95.44% of the company’s stock.

Tenet Healthcare Stock Down 9.5 %

Shares of NYSE THC opened at $120.23 on Friday. Tenet Healthcare Co. has a 52-week low of $90.03 and a 52-week high of $171.20. 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 simple moving average is $132.13 and its 200-day simple moving average is $141.54. The firm has a market cap of $11.44 billion, a price-to-earnings ratio of 3.73, a price-to-earnings-growth ratio of 1.02 and a beta of 1.77.

Tenet Healthcare (NYSE:THC) last announced its earnings results on Wednesday, February 12th. The company reported $3.44 EPS for the quarter, beating analysts’ consensus estimates of $2.95 by $0.49. Tenet Healthcare had a return on equity of 21.88% and a net margin of 15.48%. Equities analysts predict that Tenet Healthcare Co. will post 12.24 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. TD Cowen assumed coverage on shares of Tenet Healthcare in a research report on Wednesday, February 26th. They set a “buy” rating and a $175.00 price target for the company. Barclays reduced their target price on shares of Tenet Healthcare from $190.00 to $161.00 and set an “overweight” rating for the company in a report on Thursday, February 13th. KeyCorp cut their price target on Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Cantor Fitzgerald reissued an “overweight” rating and issued a $177.00 price objective on shares of Tenet Healthcare in a report on Thursday, February 13th. Finally, StockNews.com raised Tenet Healthcare from a “hold” rating to a “buy” rating in a report on Thursday, March 13th. Three equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Tenet Healthcare currently has an average rating of “Moderate Buy” and a consensus target price of $166.41.

Insider Transactions at Tenet Healthcare

In other news, Director J Robert Kerrey sold 9,525 shares of the business’s stock in a transaction that occurred 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 transaction, the director now directly owns 27,378 shares in the company, valued at $3,434,022.54. The trade was a 25.81 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.93% of the company’s stock.

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.