Tenet Healthcare Co. (NYSE:THC) Shares Bought by Inspire Investing LLC

Inspire Investing LLC grew its stake in shares of Tenet Healthcare Co. (NYSE:THC) by 25.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,496 shares of the company’s stock after purchasing an additional 1,326 shares during the quarter. Inspire Investing LLC’s holdings in Tenet Healthcare were worth $820,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Plato Investment Management Ltd acquired a new position in shares of Tenet Healthcare in the third quarter worth about $28,000. ORG Wealth Partners LLC acquired a new position in shares of Tenet Healthcare in the third quarter worth about $30,000. Financial Management Professionals Inc. increased its holdings in Tenet Healthcare by 2,222.2% in the third quarter. Financial Management Professionals Inc. now owns 209 shares of the company’s stock valued at $35,000 after buying an additional 200 shares during the last quarter. True Wealth Design LLC bought a new stake in Tenet Healthcare in the third quarter valued at about $38,000. Finally, Benjamin F. Edwards & Company Inc. increased its holdings in Tenet Healthcare by 562.7% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 391 shares of the company’s stock valued at $52,000 after buying an additional 332 shares during the last quarter. Institutional investors and hedge funds own 95.44% of the company’s stock.

Tenet Healthcare Stock Performance

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 price-to-earnings-growth ratio of 0.60 and a beta of 2.06. 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 1-year low of $80.53 and a 1-year high of $171.20. The business has a 50 day moving average price of $134.94 and a two-hundred day moving average price of $147.98.

Tenet Healthcare (NYSE:THC) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $2.93 EPS for the quarter, beating analysts’ consensus estimates of $2.33 by $0.60. Tenet Healthcare had a return on equity of 24.05% and a net margin of 14.91%. The company had revenue of $5.12 billion during the quarter, compared to the consensus estimate of $5.05 billion. During the same quarter in the prior year, the firm earned $1.44 EPS. The company’s quarterly revenue was up 1.1% compared to the same quarter last year. Research analysts predict that Tenet Healthcare Co. will post 11.37 EPS for the current fiscal year.

Insider Activity

In other Tenet Healthcare news, EVP Lisa Y. Foo sold 4,000 shares of the business’s 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 sale, the executive vice president now directly owns 15,566 shares of the company’s stock, valued at $2,427,362.04. The trade was a 20.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.93% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on THC shares. The Goldman Sachs Group lowered Tenet Healthcare from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $196.00 to $140.00 in a report on Monday, December 16th. UBS Group boosted their price objective on Tenet Healthcare from $197.00 to $217.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Cantor Fitzgerald boosted their price objective on Tenet Healthcare from $168.00 to $177.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $175.00 target price on shares of Tenet Healthcare in a report on Tuesday, December 17th. Finally, Royal Bank of Canada upped their target price on Tenet Healthcare from $174.00 to $183.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Three equities research 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 data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $165.00.

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.