Sherbrooke Park Advisers LLC Makes New $973,000 Investment in Tenet Healthcare Co. (NYSE:THC)

Sherbrooke Park Advisers LLC bought a new position in shares of Tenet Healthcare Co. (NYSE:THC) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 7,708 shares of the company’s stock, valued at approximately $973,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Colonial Trust Co SC grew its holdings in Tenet Healthcare by 85.7% during the 4th quarter. Colonial Trust Co SC now owns 247 shares of the company’s stock worth $31,000 after acquiring an additional 114 shares in the last quarter. GeoWealth Management LLC lifted its position in shares of Tenet Healthcare by 39.8% during the fourth quarter. GeoWealth Management LLC now owns 295 shares of the company’s stock valued at $37,000 after buying an additional 84 shares during the last quarter. WR Wealth Planners LLC lifted its position in shares of Tenet Healthcare by 2,836.4% during the fourth quarter. WR Wealth Planners LLC now owns 323 shares of the company’s stock valued at $41,000 after buying an additional 312 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in shares of Tenet Healthcare by 30.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 471 shares of the company’s stock valued at $59,000 after buying an additional 110 shares during the last quarter. Finally, Kestra Investment Management LLC purchased a new stake in shares of Tenet Healthcare during the fourth quarter valued at about $60,000. 95.44% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on THC. Barclays increased their price target on shares of Tenet Healthcare from $161.00 to $171.00 and gave the company an “overweight” rating in a research report on Wednesday, April 30th. Baird R W downgraded shares of Tenet Healthcare from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 15th. Morgan Stanley lifted their price objective on shares of Tenet Healthcare from $165.00 to $175.00 and gave the stock an “overweight” rating in a research note on Monday, May 5th. Royal Bank of Canada boosted their price target on Tenet Healthcare from $183.00 to $189.00 and gave the company an “outperform” rating in a research note on Wednesday, April 30th. Finally, Truist Financial boosted their price target on Tenet Healthcare from $175.00 to $190.00 and gave the company a “buy” rating in a report on Monday. Four research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Tenet Healthcare has a consensus rating of “Moderate Buy” and an average target price of $174.94.

Insider Transactions at Tenet Healthcare

In other Tenet Healthcare news, Director J Robert Kerrey sold 5,001 shares of the stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $148.50, for a total value of $742,648.50. Following the transaction, the director now directly owns 22,377 shares in the company, valued at $3,322,984.50. This represents a 18.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.81% of the company’s stock.

Tenet Healthcare Stock Up 2.8%

Shares of THC opened at $163.96 on Friday. The firm has a market cap of $15.23 billion, a P/E ratio of 5.09, a price-to-earnings-growth ratio of 1.02 and a beta of 1.63. Tenet Healthcare Co. has a 12-month low of $109.82 and a 12-month high of $171.20. The company’s 50-day moving average price is $131.99 and its 200 day moving average price is $136.42. The company has a current ratio of 1.78, a quick ratio of 1.70 and a debt-to-equity ratio of 2.25.

Tenet Healthcare (NYSE:THC) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $4.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.11 by $1.25. Tenet Healthcare had a net margin of 15.48% and a return on equity of 21.88%. The company had revenue of $5.22 billion for the quarter, compared to analyst estimates of $5.15 billion. During the same period in the prior year, the firm earned $3.22 earnings per share. The business’s revenue for the quarter was down 2.5% compared to the same quarter last year. On average, sell-side analysts forecast that Tenet Healthcare Co. will post 12.24 earnings per share for the current 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.