Forum Financial Management LP Buys 749 Shares of Tenet Healthcare Co. (NYSE:THC)

Forum Financial Management LP increased its position in shares of Tenet Healthcare Co. (NYSE:THC) by 43.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,469 shares of the company’s stock after purchasing an additional 749 shares during the period. Forum Financial Management LP’s holdings in Tenet Healthcare were worth $312,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Geode Capital Management LLC lifted its holdings in Tenet Healthcare by 3.5% in the 4th quarter. Geode Capital Management LLC now owns 2,116,121 shares of the company’s stock worth $268,591,000 after purchasing an additional 71,454 shares in the last quarter. Norges Bank bought a new position in shares of Tenet Healthcare during the fourth quarter worth $190,819,000. Allianz Asset Management GmbH grew its stake in Tenet Healthcare by 15.1% during the fourth quarter. Allianz Asset Management GmbH now owns 577,143 shares of the company’s stock valued at $72,853,000 after acquiring an additional 75,688 shares in the last quarter. Wealthfront Advisers LLC purchased a new stake in Tenet Healthcare in the 4th quarter worth $69,059,000. Finally, Victory Capital Management Inc. grew its position in shares of Tenet Healthcare by 68.9% during the fourth quarter. Victory Capital Management Inc. now owns 507,055 shares of the company’s stock valued at $64,006,000 after purchasing an additional 206,907 shares in the last quarter. 95.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Tenet Healthcare

In other news, Director J Robert Kerrey sold 9,525 shares of Tenet Healthcare 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 sale, the director now owns 27,378 shares of the company’s stock, valued at approximately $3,434,022.54. The trade was a 25.81 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.93% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on THC shares. KeyCorp dropped their price target on Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Guggenheim started coverage on shares of Tenet Healthcare in a research report on Wednesday, April 9th. They issued a “buy” rating and a $165.00 price target on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $177.00 price objective on shares of Tenet Healthcare in a research note on Thursday, February 13th. Truist Financial dropped their price objective on shares of Tenet Healthcare from $190.00 to $175.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Finally, Robert W. Baird restated a “neutral” rating and set a $137.00 price target (down previously from $153.00) on shares of Tenet Healthcare in a research note on Tuesday, April 15th. Five investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, Tenet Healthcare currently has a consensus rating of “Moderate Buy” and an average price target of $165.44.

Tenet Healthcare Trading Down 9.2 %

Shares of NYSE:THC opened at $110.60 on Tuesday. The business’s 50 day moving average price is $127.57 and its 200-day moving average price is $137.69. Tenet Healthcare Co. has a 1 year low of $92.01 and a 1 year high of $171.20. The firm has a market capitalization of $10.44 billion, a price-to-earnings ratio of 3.43, a price-to-earnings-growth ratio of 1.02 and a beta of 1.77. 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 (NYSE:THC) last released its earnings results 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 return on equity of 21.88% and a net margin of 15.48%. On average, equities research analysts forecast that Tenet Healthcare Co. will post 12.24 earnings per share 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.