Vista Investment Partners II LLC Buys New Stake in Tenet Healthcare Co. (NYSE:THC)

Vista Investment Partners II LLC purchased a new position in shares of Tenet Healthcare Co. (NYSE:THC) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 9,033 shares of the company’s stock, valued at approximately $1,140,000.

A number of other institutional investors have also recently made changes to their positions in the business. Coldstream Capital Management Inc. raised its holdings in Tenet Healthcare by 2.2% in the 3rd quarter. Coldstream Capital Management Inc. now owns 3,406 shares of the company’s stock worth $566,000 after purchasing an additional 74 shares during the period. Spire Wealth Management raised its position in Tenet Healthcare by 19.5% during the fourth quarter. Spire Wealth Management now owns 558 shares of the company’s stock worth $70,000 after acquiring an additional 91 shares during the period. CIBC Asset Management Inc grew its position in shares of Tenet Healthcare by 3.4% in the third quarter. CIBC Asset Management Inc now owns 2,887 shares of the company’s stock valued at $480,000 after purchasing an additional 94 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in 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 buying an additional 100 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its stake in 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 in the last quarter. Institutional investors and hedge funds own 95.44% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the company. Raymond James cut Tenet Healthcare from a “strong-buy” rating to an “outperform” rating and set a $195.00 price target for the company. in a research report on Friday, November 22nd. StockNews.com cut shares of Tenet Healthcare from a “buy” rating to a “hold” rating in a research report on Wednesday, March 5th. KeyCorp cut their price objective on shares of Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Wells Fargo & Company lowered Tenet Healthcare from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $205.00 to $150.00 in a research report on Monday, November 25th. Finally, TD Cowen began coverage on Tenet Healthcare in a report on Wednesday, February 26th. They issued a “buy” rating and a $175.00 target price for the company. Four research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $163.88.

Tenet Healthcare Stock Performance

NYSE:THC opened at $127.64 on Monday. The company has a market cap 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. The company has a fifty day simple moving average of $132.66 and a two-hundred day simple moving average of $145.89. Tenet Healthcare Co. has a 52 week low of $90.03 and a 52 week high of $171.20. 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 announced its quarterly earnings data 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%. As a group, equities 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.