IFP Advisors Inc Grows Stock Position in Tenet Healthcare Co. (NYSE:THC)

IFP Advisors Inc boosted its holdings in shares of Tenet Healthcare Co. (NYSE:THC) by 21.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,503 shares of the company’s stock after purchasing 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 reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Coldstream Capital Management Inc. boosted its position in Tenet Healthcare by 2.2% during the 3rd quarter. Coldstream Capital Management Inc. now owns 3,406 shares of the company’s stock valued at $566,000 after acquiring an additional 74 shares in the last quarter. Spire Wealth Management boosted its position in shares of Tenet Healthcare by 19.5% in the 4th quarter. Spire Wealth Management now owns 558 shares of the company’s stock worth $70,000 after purchasing an additional 91 shares in the last quarter. Optas LLC boosted its position in shares of Tenet Healthcare by 3.4% in the 3rd quarter. Optas LLC now owns 2,821 shares of the company’s stock worth $469,000 after purchasing an additional 93 shares in the last quarter. CIBC Asset Management Inc boosted its position in shares of Tenet Healthcare by 3.4% in the 3rd quarter. CIBC Asset Management Inc now owns 2,887 shares of the company’s stock worth $480,000 after purchasing an additional 94 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its position in shares of Tenet Healthcare by 1.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 8,109 shares of the company’s stock worth $1,024,000 after purchasing an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 95.44% of the company’s stock.

Tenet Healthcare Stock Down 3.0 %

Shares of NYSE:THC opened at $126.58 on Friday. The company has a current ratio of 1.78, a quick ratio of 1.70 and a debt-to-equity ratio of 2.25. Tenet Healthcare Co. has a 12 month low of $90.03 and a 12 month high of $171.20. The company has a 50-day moving average price of $133.03 and a 200 day moving average price of $147.07. The company has a market cap of $12.04 billion, a price-to-earnings ratio of 3.93, a PEG ratio of 1.02 and a beta of 2.05.

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 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%. As a group, equities research analysts predict that Tenet Healthcare Co. will post 12.24 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Raymond James cut Tenet Healthcare from a “strong-buy” rating to an “outperform” rating and set a $195.00 price target on the stock. in a research report on Friday, November 22nd. The Goldman Sachs Group cut Tenet Healthcare from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $196.00 to $140.00 in a research report on Monday, December 16th. KeyCorp lowered their price objective 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. Barclays lowered their price objective 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. Finally, Wells Fargo & Company cut Tenet Healthcare from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $205.00 to $150.00 in a research report on Monday, November 25th. Three 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 MarketBeat, Tenet Healthcare has a consensus rating of “Moderate Buy” and an average price target of $163.88.

About Tenet Healthcare

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.