46,200 Shares in Tenet Healthcare Co. (NYSE:THC) Acquired by Proficio Capital Partners LLC

Proficio Capital Partners LLC bought a new position 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.

A number of other large investors also recently made changes to their positions in THC. New Wave Wealth Advisors LLC acquired a new position in Tenet Healthcare in the fourth quarter valued at about $343,000. Swedbank AB raised its position in shares of 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 acquiring an additional 20,000 shares during the period. Signet Financial Management LLC bought a new position in Tenet Healthcare during the 4th quarter worth approximately $1,526,000. China Universal Asset Management Co. Ltd. bought a new stake in Tenet Healthcare in the fourth quarter valued at approximately $410,000. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in shares of Tenet Healthcare during the fourth quarter worth $5,892,000. Institutional investors and hedge funds own 95.44% of the company’s stock.

Analyst Upgrades and Downgrades

THC has been the subject of a number of recent analyst reports. StockNews.com upgraded shares of Tenet Healthcare from a “hold” rating to a “buy” rating in a research report on Thursday. Truist Financial dropped their price target on Tenet Healthcare from $190.00 to $175.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Barclays lowered their target price on Tenet Healthcare from $190.00 to $161.00 and set an “overweight” rating for the company in a research note on Thursday, February 13th. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $175.00 price target on shares of Tenet Healthcare in a report on Tuesday, December 17th. Finally, TD Cowen assumed coverage on shares of Tenet Healthcare in a report on Wednesday, February 26th. They set 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 assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Tenet Healthcare presently has an average rating of “Moderate Buy” and an average target price of $163.88.

Tenet Healthcare Stock Up 2.7 %

THC stock opened at $122.76 on Monday. Tenet Healthcare Co. has a twelve month low of $90.03 and a twelve month high of $171.20. The company has a market cap of $11.68 billion, a price-to-earnings ratio of 3.81, a P/E/G ratio of 1.02 and a beta of 2.06. 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 business has a 50 day moving average price of $132.46 and a two-hundred day moving average price of $144.49.

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

Insiders Place Their Bets

In other Tenet Healthcare 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 transaction, the director now directly owns 27,378 shares of the company’s stock, valued at $3,434,022.54. The trade was a 25.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company 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.