Impact Partnership Wealth LLC Buys New Holdings in Tenet Healthcare Co. (NYSE:THC)

Impact Partnership Wealth LLC acquired a new stake in Tenet Healthcare Co. (NYSE:THC) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 2,679 shares of the company’s stock, valued at approximately $338,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Coldstream Capital Management Inc. lifted its holdings in shares of Tenet Healthcare by 2.2% during 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. Optas LLC boosted its position in Tenet Healthcare by 3.4% in the third quarter. Optas LLC now owns 2,821 shares of the company’s stock valued at $469,000 after buying an additional 93 shares in the last quarter. Signaturefd LLC grew its stake in Tenet Healthcare by 17.6% during the third quarter. Signaturefd LLC now owns 628 shares of the company’s stock worth $104,000 after buying an additional 94 shares during the last quarter. CIBC Asset Management Inc raised its stake 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 last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Tenet Healthcare by 20.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 560 shares of the company’s stock worth $74,000 after acquiring an additional 96 shares in the last quarter. 95.44% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

THC has been the subject of several research analyst reports. StockNews.com downgraded Tenet Healthcare from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, December 17th. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $175.00 price target on shares of Tenet Healthcare in a research report on Tuesday, December 17th. Royal Bank of Canada boosted their target price on shares of Tenet Healthcare from $174.00 to $183.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Truist Financial decreased their price target on shares of Tenet Healthcare from $190.00 to $175.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Finally, UBS Group upped their price objective on Tenet Healthcare from $197.00 to $217.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Three analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Tenet Healthcare currently has a consensus rating of “Moderate Buy” and a consensus target price of $165.00.

Tenet Healthcare Stock Performance

Shares of NYSE:THC opened at $135.50 on Friday. The company has a market capitalization of $12.89 billion, a price-to-earnings ratio of 4.34, a P/E/G ratio of 0.60 and a beta of 2.06. The firm’s 50 day simple moving average is $134.94 and its 200 day simple moving average is $147.98. The company has a debt-to-equity ratio of 2.35, a current ratio of 1.58 and a quick ratio of 1.52. Tenet Healthcare Co. has a fifty-two week low of $80.53 and a fifty-two week high of $171.20.

Tenet Healthcare (NYSE:THC) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $2.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.33 by $0.60. The company had revenue of $5.12 billion during the quarter, compared to analyst estimates of $5.05 billion. Tenet Healthcare had a net margin of 14.91% and a return on equity of 24.05%. The firm’s revenue was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.44 EPS. As a group, sell-side analysts forecast that Tenet Healthcare Co. will post 11.37 earnings per share for the current year.

Insider Transactions at Tenet Healthcare

In other news, EVP Lisa Y. Foo sold 4,000 shares of the stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $155.94, for a total transaction of $623,760.00. Following the completion of the sale, the executive vice president now owns 15,566 shares of the company’s stock, valued at $2,427,362.04. This represents a 20.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.93% of the stock is currently owned by 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.