Lattice Capital Management LLC Makes New Investment in Tenet Healthcare Co. (NYSE:THC)

Lattice Capital Management LLC bought a new stake in shares of Tenet Healthcare Co. (NYSE:THC) during the 4th quarter, according to its most recent filing with the SEC. The fund bought 3,000 shares of the company’s stock, valued at approximately $379,000. Tenet Healthcare makes up 0.3% of Lattice Capital Management LLC’s portfolio, making the stock its 21st largest position.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Creative Planning raised its stake in Tenet Healthcare by 2.9% during the third quarter. Creative Planning now owns 16,099 shares of the company’s stock worth $2,676,000 after acquiring an additional 461 shares in the last quarter. Raymond James & Associates raised its position in Tenet Healthcare by 24.9% in the 3rd quarter. Raymond James & Associates now owns 130,485 shares of the company’s stock valued at $21,687,000 after purchasing an additional 26,011 shares during the last quarter. Signaturefd LLC grew its holdings in shares of Tenet Healthcare by 17.6% during the third quarter. Signaturefd LLC now owns 628 shares of the company’s stock worth $104,000 after purchasing an additional 94 shares during the last quarter. International Assets Investment Management LLC raised its holdings in shares of Tenet Healthcare by 16,520.0% in the third quarter. International Assets Investment Management LLC now owns 18,282 shares of the company’s stock valued at $3,038,000 after buying an additional 18,172 shares during the last quarter. Finally, Legacy Capital Group California Inc. bought a new stake in Tenet Healthcare during the 3rd quarter worth about $1,055,000. Institutional investors own 95.44% of the company’s stock.

Tenet Healthcare Price Performance

THC opened at $129.57 on Friday. The company has a fifty day simple moving average of $132.90 and a 200 day simple moving average of $147.69. The company has a quick ratio of 1.70, a current ratio of 1.78 and a debt-to-equity ratio of 2.25. The stock has a market cap of $12.32 billion, a P/E ratio of 4.02, a P/E/G ratio of 1.01 and a beta of 2.05. Tenet Healthcare Co. has a 12 month low of $88.98 and a 12 month high of $171.20.

Tenet Healthcare (NYSE:THC) last released its quarterly earnings results on Wednesday, February 12th. The company reported $3.44 EPS for the quarter, topping analysts’ consensus estimates 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, research analysts expect that Tenet Healthcare Co. will post 12.24 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on THC. The Goldman Sachs Group lowered shares of Tenet Healthcare from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $196.00 to $140.00 in a research report on Monday, December 16th. Truist Financial decreased their price objective on Tenet Healthcare from $190.00 to $175.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. JPMorgan Chase & Co. restated an “overweight” rating and set a $175.00 target price on shares of Tenet Healthcare in a research report on Tuesday, December 17th. Barclays lowered their price objective on Tenet Healthcare from $190.00 to $161.00 and set an “overweight” rating for the company in a research report on Thursday, February 13th. Finally, UBS Group raised their target price on shares of Tenet Healthcare from $197.00 to $217.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $163.19.

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.