EverSource Wealth Advisors LLC Has $119,000 Stake in Tenet Healthcare Co. (NYSE:THC)

EverSource Wealth Advisors LLC boosted its stake in shares of Tenet Healthcare Co. (NYSE:THC) by 9.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 940 shares of the company’s stock after acquiring an additional 80 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Tenet Healthcare were worth $119,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in THC. Coldstream Capital Management Inc. boosted its position in Tenet Healthcare by 2.2% in the 3rd quarter. Coldstream Capital Management Inc. now owns 3,406 shares of the company’s stock valued at $566,000 after buying an additional 74 shares during the last quarter. Spire Wealth Management boosted its holdings in 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 last quarter. CIBC Asset Management Inc increased its position in Tenet Healthcare by 3.4% in the third quarter. CIBC Asset Management Inc now owns 2,887 shares of the company’s stock worth $480,000 after purchasing an additional 94 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in Tenet Healthcare by 1.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 8,109 shares of the company’s stock valued at $1,024,000 after purchasing an additional 100 shares during the period. Finally, Smartleaf Asset Management LLC grew its position in shares of Tenet Healthcare by 30.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 471 shares of the company’s stock worth $59,000 after buying an additional 110 shares during the period. Institutional investors and hedge funds own 95.44% of the company’s stock.

Insider Activity at Tenet Healthcare

In related news, Director J Robert Kerrey sold 9,525 shares of the firm’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $125.43, for a total value 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 approximately $3,434,022.54. This trade represents a 25.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.93% of the company’s stock.

Analyst Ratings Changes

THC has been the topic of a number of recent research reports. Wells Fargo & Company cut shares of Tenet Healthcare from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $205.00 to $150.00 in a research note on Monday, November 25th. The Goldman Sachs Group cut Tenet Healthcare from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $196.00 to $140.00 in a research note on Monday, December 16th. Barclays reduced their target price on Tenet Healthcare from $190.00 to $161.00 and set an “overweight” rating on the stock in a report on Thursday, February 13th. TD Cowen assumed coverage on shares of Tenet Healthcare in a research report on Wednesday, February 26th. They issued a “buy” rating and a $175.00 price target on the stock. Finally, StockNews.com upgraded shares of Tenet Healthcare from a “hold” rating to a “buy” rating in a report on Thursday, March 13th. Three investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $163.88.

Tenet Healthcare Trading Up 4.4 %

NYSE:THC opened at $128.09 on Tuesday. The company has a quick ratio of 1.70, a current ratio of 1.78 and a debt-to-equity ratio of 2.25. Tenet Healthcare Co. has a twelve month low of $90.03 and a twelve month high of $171.20. The company has a market cap of $12.18 billion, a P/E ratio of 3.97, a price-to-earnings-growth ratio of 1.02 and a beta of 2.06. The business has a 50 day moving average price of $132.51 and a two-hundred day moving average price of $144.23.

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 analysts’ consensus estimates of $2.95 by $0.49. Tenet Healthcare had a net margin of 15.48% and a return on equity of 21.88%. As a group, analysts expect that Tenet Healthcare Co. will post 12.24 EPS for the current fiscal year.

Tenet Healthcare 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.