Tenet Healthcare Co. (NYSE:THC) Position Increased by Mariner LLC

Mariner LLC lifted its stake in shares of Tenet Healthcare Co. (NYSE:THC) by 24.6% in the 4th quarter, HoldingsChannel.com reports. The fund owned 8,604 shares of the company’s stock after acquiring an additional 1,697 shares during the quarter. Mariner LLC’s holdings in Tenet Healthcare were worth $1,086,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. WR Wealth Planners LLC boosted its position in shares of Tenet Healthcare by 2,836.4% in the 4th quarter. WR Wealth Planners LLC now owns 323 shares of the company’s stock valued at $41,000 after purchasing an additional 312 shares during the period. Smartleaf Asset Management LLC boosted its holdings in shares of Tenet Healthcare by 30.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 471 shares of the company’s stock worth $59,000 after buying an additional 110 shares during the period. Kestra Investment Management LLC acquired a new stake in shares of Tenet Healthcare during the fourth quarter valued at approximately $60,000. Wilmington Savings Fund Society FSB lifted its position in shares of Tenet Healthcare by 1,352.8% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 523 shares of the company’s stock valued at $66,000 after acquiring an additional 487 shares in the last quarter. Finally, Spire Wealth Management grew its position in Tenet Healthcare by 19.5% during the 4th quarter. Spire Wealth Management now owns 558 shares of the company’s stock worth $70,000 after purchasing an additional 91 shares in the last quarter. 95.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director J Robert Kerrey sold 9,525 shares of the company’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $125.43, for a total transaction of $1,194,720.75. Following the completion of the transaction, the director now directly owns 27,378 shares in the company, valued at $3,434,022.54. The trade was a 25.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.81% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on THC. TD Cowen assumed coverage on Tenet Healthcare in a research report on Wednesday, February 26th. They issued a “buy” rating and a $175.00 target price for the company. Guggenheim initiated coverage on Tenet Healthcare in a research note on Wednesday, April 9th. They set a “buy” rating and a $165.00 target price on the stock. Morgan Stanley initiated coverage on shares of Tenet Healthcare in a research report on Wednesday, March 26th. They issued an “overweight” rating and a $165.00 price target for the company. Barclays dropped their price objective on shares of Tenet Healthcare from $190.00 to $161.00 and set an “overweight” rating on the stock in a research note on Thursday, February 13th. Finally, Robert W. Baird reissued a “neutral” rating and set a $137.00 target price (down previously from $153.00) on shares of Tenet Healthcare in a research note on Tuesday, April 15th. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, Tenet Healthcare currently has an average rating of “Moderate Buy” and a consensus target price of $165.44.

Tenet Healthcare Stock Down 1.8 %

Shares of Tenet Healthcare stock opened at $121.99 on Friday. Tenet Healthcare Co. has a 12-month low of $92.01 and a 12-month high of $171.20. The stock has a market capitalization of $11.51 billion, a P/E ratio of 3.78, a PEG ratio of 1.02 and a beta of 1.77. 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 50 day moving average price of $126.50 and a two-hundred day moving average price of $136.90.

Tenet Healthcare (NYSE:THC) last announced its earnings results on Wednesday, February 12th. The company reported $3.44 EPS for the quarter, topping 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 analysts expect 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.