Proficio Capital Partners LLC Takes Position in Tenet Healthcare Co. (NYSE:THC)

Proficio Capital Partners LLC bought a new stake in shares of Tenet Healthcare Co. (NYSE:THC) in the fourth quarter, Holdings Channel reports. The firm bought 46,200 shares of the company’s stock, valued at approximately $5,832,000.

Several other institutional investors also recently bought and sold shares of THC. New Wave Wealth Advisors LLC purchased a new stake in Tenet Healthcare during the 4th quarter worth approximately $343,000. Swedbank AB grew its stake in shares of Tenet Healthcare by 100.0% in the fourth quarter. Swedbank AB now owns 40,000 shares of the company’s stock worth $5,049,000 after acquiring an additional 20,000 shares in the last quarter. Signet Financial Management LLC acquired a new stake in shares of Tenet Healthcare in the fourth quarter valued at $1,526,000. China Universal Asset Management Co. Ltd. purchased a new position in Tenet Healthcare in the fourth quarter valued at $410,000. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in Tenet Healthcare during the 4th quarter worth about $5,892,000. 95.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

THC has been the subject of a number of analyst reports. JPMorgan Chase & Co. reissued an “overweight” rating and set a $175.00 price objective on shares of Tenet Healthcare in a research report on Tuesday, December 17th. KeyCorp dropped their price objective on shares of Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. StockNews.com upgraded shares of Tenet Healthcare from a “hold” rating to a “buy” rating in a research note on Tuesday, February 25th. Wells Fargo & Company downgraded Tenet Healthcare from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $205.00 to $150.00 in a report on Monday, November 25th. Finally, TD Cowen assumed coverage on Tenet Healthcare in a report on Wednesday, February 26th. They issued a “buy” rating and a $175.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $163.88.

Tenet Healthcare Trading Down 1.7 %

Shares of Tenet Healthcare stock opened at $124.48 on Tuesday. The company has a 50-day moving average of $132.92 and a two-hundred day moving average of $146.77. The stock has a market cap of $11.84 billion, a PE ratio of 3.86, a price-to-earnings-growth ratio of 1.02 and a beta of 2.05. 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.

Tenet Healthcare (NYSE:THC) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $3.44 earnings per share (EPS) 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, research analysts anticipate that Tenet Healthcare Co. will post 12.24 EPS for the current fiscal year.

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.