Wealth Enhancement Advisory Services LLC Buys 100 Shares of Tenet Healthcare Co. (NYSE:THC)

Wealth Enhancement Advisory Services LLC grew its stake in shares of Tenet Healthcare Co. (NYSE:THC) by 1.2% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 8,109 shares of the company’s stock after buying an additional 100 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Tenet Healthcare were worth $1,024,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Oliver Luxxe Assets LLC lifted its position in shares of Tenet Healthcare by 12.9% in the 4th quarter. Oliver Luxxe Assets LLC now owns 5,628 shares of the company’s stock worth $710,000 after acquiring an additional 643 shares during the period. CWA Asset Management Group LLC acquired a new stake in Tenet Healthcare during the fourth quarter worth $1,758,000. Nordea Investment Management AB increased its holdings in Tenet Healthcare by 13.5% in the 4th quarter. Nordea Investment Management AB now owns 83,793 shares of the company’s stock valued at $10,577,000 after buying an additional 9,946 shares during the period. B. Riley Wealth Advisors Inc. lifted its holdings in shares of Tenet Healthcare by 101.3% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 7,894 shares of the company’s stock worth $1,281,000 after acquiring an additional 3,973 shares during the period. Finally, Retirement Systems of Alabama boosted its position in shares of Tenet Healthcare by 46.6% during the 3rd quarter. Retirement Systems of Alabama now owns 176,757 shares of the company’s stock valued at $29,377,000 after acquiring an additional 56,193 shares in the last quarter. Institutional investors own 95.44% of the company’s stock.

Tenet Healthcare Trading Up 1.9 %

Shares of THC opened at $130.04 on Thursday. The stock’s fifty day simple moving average is $139.72 and its 200-day simple moving average is $148.18. The company has a quick ratio of 1.52, a current ratio of 1.58 and a debt-to-equity ratio of 2.35. The firm has a market capitalization of $12.37 billion, a PE ratio of 4.17, a price-to-earnings-growth ratio of 0.61 and a beta of 2.06. Tenet Healthcare Co. has a 12-month low of $78.03 and a 12-month high of $171.20.

Tenet Healthcare (NYSE:THC) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $2.93 EPS for the quarter, topping the consensus estimate of $2.33 by $0.60. Tenet Healthcare had a net margin of 14.91% and a return on equity of 24.05%. The company had revenue of $5.12 billion during the quarter, compared to analysts’ expectations of $5.05 billion. During the same quarter in the previous year, the company earned $1.44 EPS. Tenet Healthcare’s revenue was up 1.1% on a year-over-year basis. As a group, research analysts predict that Tenet Healthcare Co. will post 11.38 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have commented on THC shares. UBS Group raised their price target on shares of Tenet Healthcare from $197.00 to $217.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Barclays boosted their price target on Tenet Healthcare from $171.00 to $190.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Cantor Fitzgerald lifted their price objective on Tenet Healthcare from $168.00 to $177.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $175.00 target price on shares of Tenet Healthcare in a report on Tuesday, December 17th. Finally, Wells Fargo & Company lowered shares of Tenet Healthcare from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $205.00 to $150.00 in a research report on Monday, November 25th. Three analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Tenet Healthcare presently has a consensus rating of “Moderate Buy” and an average target price of $165.00.

Insider Activity

In related news, EVP Lisa Y. Foo sold 4,000 shares of the stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $155.94, for a total value of $623,760.00. Following the sale, the executive vice president now directly owns 15,566 shares in the company, valued at $2,427,362.04. This trade represents a 20.44 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.93% of the stock is currently owned by company insiders.

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.