2,718 Shares in Tenet Healthcare Co. (NYSE:THC) Acquired by New Wave Wealth Advisors LLC

New Wave Wealth Advisors LLC acquired a new position in Tenet Healthcare Co. (NYSE:THC) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 2,718 shares of the company’s stock, valued at approximately $343,000.

Several other institutional investors and hedge funds also recently bought and sold shares of THC. Plato Investment Management Ltd purchased a new stake in Tenet Healthcare in the 3rd quarter worth approximately $28,000. ORG Wealth Partners LLC purchased a new stake in shares of Tenet Healthcare during the 3rd quarter valued at $30,000. Financial Management Professionals Inc. raised its position in Tenet Healthcare by 2,222.2% in the 3rd quarter. Financial Management Professionals Inc. now owns 209 shares of the company’s stock worth $35,000 after purchasing an additional 200 shares during the period. True Wealth Design LLC purchased a new position in Tenet Healthcare in the 3rd quarter worth $38,000. Finally, Hantz Financial Services Inc. purchased a new position in Tenet Healthcare in the 3rd quarter worth $83,000. 95.44% of the stock is owned by institutional investors.

Tenet Healthcare Stock Up 2.8 %

Shares of Tenet Healthcare stock opened at $143.27 on Friday. The company has a debt-to-equity ratio of 2.35, a quick ratio of 1.52 and a current ratio of 1.58. The stock has a market capitalization of $13.62 billion, a PE ratio of 4.59, a price-to-earnings-growth ratio of 0.63 and a beta of 2.06. Tenet Healthcare Co. has a 52-week low of $82.15 and a 52-week high of $171.20. The company has a 50-day simple moving average of $134.04 and a two-hundred day simple moving average of $148.20.

Tenet Healthcare (NYSE:THC) last announced its earnings results on Tuesday, October 29th. The company reported $2.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.33 by $0.60. The company had revenue of $5.12 billion during the quarter, compared to analyst estimates of $5.05 billion. Tenet Healthcare had a net margin of 14.91% and a return on equity of 24.05%. The firm’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.44 earnings per share. On average, analysts anticipate that Tenet Healthcare Co. will post 11.37 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Royal Bank of Canada raised their price target on shares of Tenet Healthcare from $174.00 to $183.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. StockNews.com lowered shares of Tenet Healthcare from a “strong-buy” rating to a “buy” rating in a report on Tuesday, December 17th. Raymond James lowered shares of Tenet Healthcare from a “strong-buy” rating to an “outperform” rating and set a $195.00 price target on the stock. in a report on Friday, November 22nd. KeyCorp cut their price target on shares of Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $175.00 target price on shares of Tenet Healthcare in a research note on Tuesday, December 17th. Three analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Tenet Healthcare presently has an average rating of “Moderate Buy” and a consensus price target of $165.00.

Tenet Healthcare Company 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.