Wakefield Asset Management LLLP Has $3.21 Million Position in Tenet Healthcare Co. (NYSE:THC)

Wakefield Asset Management LLLP trimmed its stake in Tenet Healthcare Co. (NYSE:THC) by 1.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 25,451 shares of the company’s stock after selling 313 shares during the period. Wakefield Asset Management LLLP’s holdings in Tenet Healthcare were worth $3,213,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in THC. Coldstream Capital Management Inc. raised its stake in Tenet Healthcare by 2.2% during the third quarter. Coldstream Capital Management Inc. now owns 3,406 shares of the company’s stock worth $566,000 after acquiring an additional 74 shares in 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. Optas LLC raised its stake in shares of Tenet Healthcare by 3.4% during the third quarter. Optas LLC now owns 2,821 shares of the company’s stock worth $469,000 after buying an additional 93 shares during the last quarter. CIBC Asset Management Inc boosted its position in shares of Tenet Healthcare by 3.4% in the 3rd 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 last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its stake in shares of Tenet Healthcare by 1.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 8,109 shares of the company’s stock valued at $1,024,000 after acquiring an additional 100 shares during the last quarter. 95.44% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on THC shares. Barclays cut their price objective on Tenet Healthcare from $190.00 to $161.00 and set an “overweight” rating on the stock in a report on Thursday, February 13th. StockNews.com raised Tenet Healthcare from a “hold” rating to a “buy” rating in a research report on Tuesday. KeyCorp cut their target price on shares of Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $175.00 price objective on shares of Tenet Healthcare in a report on Tuesday, December 17th. Finally, The Goldman Sachs Group downgraded Tenet Healthcare from a “buy” rating to a “neutral” rating and reduced their price target for the company from $196.00 to $140.00 in a research note on Monday, December 16th. Three analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Tenet Healthcare currently has an average rating of “Moderate Buy” and a consensus target price of $163.88.

Tenet Healthcare Stock Performance

Shares of THC opened at $130.48 on Friday. The business’s 50 day moving average price is $133.09 and its 200-day moving average price is $147.25. 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 $12.41 billion, a P/E ratio of 4.05, a P/E/G ratio of 1.02 and a beta of 2.05. Tenet Healthcare Co. has a 52 week low of $88.98 and a 52 week high of $171.20.

Tenet Healthcare (NYSE:THC) last posted its earnings results on Wednesday, February 12th. The company reported $3.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.95 by $0.49. Tenet Healthcare had a net margin of 15.48% and a return on equity of 21.88%. Equities research analysts anticipate that Tenet Healthcare Co. will post 12.24 earnings per share 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.