Taika Capital LP Invests $498,000 in Tenet Healthcare Co. (NYSE:THC)

Taika Capital LP acquired a new position in shares of Tenet Healthcare Co. (NYSE:THC) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 3,944 shares of the company’s stock, valued at approximately $498,000.

Other large investors have also modified their holdings of the company. Plato Investment Management Ltd purchased a new stake in shares of Tenet Healthcare in the 3rd quarter valued at approximately $28,000. True Wealth Design LLC purchased a new stake in shares of Tenet Healthcare in the 3rd quarter valued at approximately $38,000. WR Wealth Planners LLC lifted its position in shares of Tenet Healthcare by 2,836.4% in the 4th quarter. WR Wealth Planners LLC now owns 323 shares of the company’s stock valued at $41,000 after acquiring an additional 312 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in shares of Tenet Healthcare by 30.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 471 shares of the company’s stock valued at $59,000 after acquiring an additional 110 shares in the last quarter. Finally, Kestra Investment Management LLC purchased a new stake in shares of Tenet Healthcare in the 4th quarter valued at approximately $60,000. 95.44% of the stock is owned by institutional investors.

Tenet Healthcare Stock Performance

Shares of THC opened at $127.64 on Monday. 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 Co. has a one year low of $90.03 and a one year high of $171.20. The company’s fifty day moving average price is $132.66 and its 200 day moving average price is $145.89. The company has a market capitalization of $12.14 billion, a PE ratio of 3.96, a price-to-earnings-growth ratio of 1.02 and a beta of 2.06.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $3.44 EPS 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%. As a group, analysts expect that Tenet Healthcare Co. will post 12.24 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. KeyCorp reduced their price target on shares of Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Truist Financial reduced their price target on shares of Tenet Healthcare from $190.00 to $175.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Wells Fargo & Company lowered shares of Tenet Healthcare from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $205.00 to $150.00 in a research report on Monday, November 25th. The Goldman Sachs Group lowered shares of Tenet Healthcare from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $196.00 to $140.00 in a research report on Monday, December 16th. Finally, StockNews.com downgraded Tenet Healthcare from a “buy” rating to a “hold” rating in a research note on Wednesday, March 5th. Four equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Tenet Healthcare has a consensus rating of “Moderate Buy” and a consensus price target of $163.88.

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.