Catalyst Funds Management Pty Ltd Purchases 2,300 Shares of Tenet Healthcare Co. (NYSE:THC)

Catalyst Funds Management Pty Ltd raised its position in Tenet Healthcare Co. (NYSE:THC) by 26.7% in the 4th quarter, Holdings Channel reports. The firm owned 10,900 shares of the company’s stock after buying an additional 2,300 shares during the quarter. Catalyst Funds Management Pty Ltd’s holdings in Tenet Healthcare were worth $1,376,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Coldstream Capital Management Inc. increased its position in shares of Tenet Healthcare by 2.2% in the third quarter. Coldstream Capital Management Inc. now owns 3,406 shares of the company’s stock valued at $566,000 after acquiring an additional 74 shares during the period. EverSource Wealth Advisors LLC increased its position in shares of Tenet Healthcare by 9.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 940 shares of the company’s stock valued at $119,000 after acquiring an additional 80 shares during the period. Spire Wealth Management increased its position in shares of Tenet Healthcare by 19.5% in the fourth quarter. Spire Wealth Management now owns 558 shares of the company’s stock valued at $70,000 after acquiring an additional 91 shares during the period. CIBC Asset Management Inc increased its position in shares of Tenet Healthcare by 3.4% in the third quarter. CIBC Asset Management Inc now owns 2,887 shares of the company’s stock valued at $480,000 after acquiring an additional 94 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its position in shares of Tenet Healthcare by 1.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 8,109 shares of the company’s stock valued at $1,024,000 after acquiring an additional 100 shares during the period. Hedge funds and other institutional investors own 95.44% of the company’s stock.

Insider Activity

In other news, Director J Robert Kerrey sold 9,525 shares of the business’s stock in a transaction that occurred 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 Securities & Exchange Commission, which is available at the SEC website. 0.93% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have recently weighed in on THC. Barclays cut their target price on shares of Tenet Healthcare from $190.00 to $161.00 and set an “overweight” rating on the stock in a research note on Thursday, February 13th. TD Cowen began coverage on shares of Tenet Healthcare in a research note on Wednesday, February 26th. They set a “buy” rating and a $175.00 target price on the stock. Raymond James lowered shares of Tenet Healthcare from a “strong-buy” rating to an “outperform” rating and set a $195.00 target price on the stock. in a research note on Friday, November 22nd. Wells Fargo & Company lowered shares of Tenet Healthcare from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $205.00 to $150.00 in a research note on Monday, November 25th. Finally, StockNews.com raised shares of Tenet Healthcare from a “hold” rating to a “buy” rating in a research note on Thursday. Three research 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 company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $163.88.

Tenet Healthcare Stock Up 2.7 %

Shares of Tenet Healthcare stock opened at $122.76 on Friday. The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.70 and a current ratio of 1.78. The stock has a market capitalization of $11.68 billion, a PE ratio of 3.81, a price-to-earnings-growth ratio of 1.02 and a beta of 2.06. Tenet Healthcare Co. has a 52-week low of $90.03 and a 52-week high of $171.20. The company has a 50-day simple moving average of $132.46 and a two-hundred day simple moving average of $144.75.

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

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.