Kendall Capital Management Purchases New Stake in Tenet Healthcare Co. (NYSE:THC)

Kendall Capital Management purchased a new stake in Tenet Healthcare Co. (NYSE:THC) during the 4th quarter, HoldingsChannel.com reports. The firm purchased 3,786 shares of the company’s stock, valued at approximately $478,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in THC. FMR LLC boosted its holdings in Tenet Healthcare by 88.0% during the third quarter. FMR LLC now owns 7,700,693 shares of the company’s stock worth $1,279,855,000 after buying an additional 3,604,161 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Tenet Healthcare by 23.6% during the third quarter. Geode Capital Management LLC now owns 2,044,667 shares of the company’s stock worth $339,893,000 after buying an additional 390,316 shares during the last quarter. Raymond James Financial Inc. bought a new position in Tenet Healthcare during the fourth quarter worth about $49,001,000. Iron Triangle Partners LP bought a new position in Tenet Healthcare during the third quarter worth about $51,346,000. Finally, Victory Capital Management Inc. boosted its holdings in Tenet Healthcare by 68.9% during the fourth quarter. Victory Capital Management Inc. now owns 507,055 shares of the company’s stock worth $64,006,000 after buying an additional 206,907 shares during the last quarter. Institutional investors own 95.44% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $175.00 price objective on shares of Tenet Healthcare in a report on Tuesday, December 17th. The Goldman Sachs Group cut Tenet Healthcare from a “buy” rating to a “neutral” rating and cut their price objective for the company from $196.00 to $140.00 in a report on Monday, December 16th. Raymond James cut Tenet Healthcare from a “strong-buy” rating to an “outperform” rating and set a $195.00 price objective on the stock. in a report on Friday, November 22nd. Cantor Fitzgerald reiterated an “overweight” rating and set a $177.00 price objective on shares of Tenet Healthcare in a report on Thursday, February 13th. Finally, Barclays dropped their target price on Tenet Healthcare from $190.00 to $161.00 and set an “overweight” rating on the stock in a research report on Thursday, February 13th. Four 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 stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $163.88.

Tenet Healthcare Stock Up 1.8 %

NYSE:THC opened at $127.64 on Monday. The firm has a market capitalization of $12.14 billion, a price-to-earnings ratio of 3.96, a price-to-earnings-growth ratio of 1.02 and a beta of 2.06. Tenet Healthcare Co. has a twelve month low of $90.03 and a twelve month high of $171.20. The stock’s 50 day moving average price is $132.66 and its two-hundred day moving average price is $145.89. 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 (NYSE:THC) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $3.44 earnings per share for the quarter, topping 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%. Equities research analysts expect that Tenet Healthcare Co. will post 12.24 earnings per share for the current fiscal year.

About Tenet Healthcare

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.