Bryce Point Capital LLC Makes New $490,000 Investment in Tenet Healthcare Co. (NYSE:THC)

Bryce Point Capital LLC bought a new position in Tenet Healthcare Co. (NYSE:THC) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 3,884 shares of the company’s stock, valued at approximately $490,000.

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

Insiders Place Their Bets

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

Tenet Healthcare Stock Performance

NYSE THC opened at $120.23 on Friday. The stock has a market capitalization of $11.44 billion, a PE ratio of 3.73, a P/E/G ratio of 1.02 and a beta of 1.77. Tenet Healthcare Co. has a 1 year low of $90.03 and a 1 year high of $171.20. The company’s 50 day simple moving average is $132.13 and its two-hundred day simple moving average is $141.54. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.78 and a quick ratio of 1.70.

Tenet Healthcare (NYSE:THC) last announced its earnings results 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 return on equity of 21.88% and a net margin of 15.48%. Analysts predict that Tenet Healthcare Co. will post 12.24 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have commented on THC shares. The Goldman Sachs Group lowered shares of Tenet Healthcare from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $196.00 to $140.00 in a research note on Monday, December 16th. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $175.00 price target on shares of Tenet Healthcare in a report on Tuesday, December 17th. StockNews.com raised Tenet Healthcare from a “hold” rating to a “buy” rating in a research report on Thursday, March 13th. KeyCorp cut their price target on shares of Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Finally, Morgan Stanley started coverage on shares of Tenet Healthcare in a research report on Wednesday, March 26th. They issued an “overweight” rating and a $165.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $166.41.

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.