Kendall Capital Management Makes New $478,000 Investment in Tenet Healthcare Co. (NYSE:THC)

Kendall Capital Management purchased a new position in Tenet Healthcare Co. (NYSE:THC) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 3,786 shares of the company’s stock, valued at approximately $478,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. FMR LLC increased its stake in Tenet Healthcare by 88.0% in the 3rd quarter. FMR LLC now owns 7,700,693 shares of the company’s stock worth $1,279,855,000 after purchasing an additional 3,604,161 shares in the last quarter. Geode Capital Management LLC increased its stake in Tenet Healthcare by 23.6% in the 3rd quarter. Geode Capital Management LLC now owns 2,044,667 shares of the company’s stock worth $339,893,000 after purchasing an additional 390,316 shares in the last quarter. Allianz Asset Management GmbH increased its stake in Tenet Healthcare by 15.1% in the 4th quarter. Allianz Asset Management GmbH now owns 577,143 shares of the company’s stock worth $72,853,000 after purchasing an additional 75,688 shares in the last quarter. Victory Capital Management Inc. grew its stake in Tenet Healthcare by 68.9% during the 4th quarter. Victory Capital Management Inc. now owns 507,055 shares of the company’s stock valued at $64,006,000 after acquiring an additional 206,907 shares in the last quarter. Finally, Franklin Resources Inc. grew its stake in Tenet Healthcare by 11.9% during the 3rd quarter. Franklin Resources Inc. now owns 457,704 shares of the company’s stock valued at $71,077,000 after acquiring an additional 48,580 shares in the last quarter. 95.44% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on THC. KeyCorp lowered their target price on Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $177.00 target price on shares of Tenet Healthcare in a research note on Thursday, February 13th. 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. StockNews.com lowered Tenet Healthcare from a “buy” rating to a “hold” rating in a report on Wednesday, March 5th. Finally, Barclays reduced their price target on Tenet Healthcare from $190.00 to $161.00 and set an “overweight” rating for the company in a report on Thursday, February 13th. Four investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Tenet Healthcare currently has an average rating of “Moderate Buy” and an average price target of $163.88.

Tenet Healthcare Stock Performance

Tenet Healthcare stock opened at $127.64 on Monday. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.78 and a quick ratio of 1.70. The stock has a fifty day moving average price of $132.66 and a two-hundred day moving average price of $145.89. Tenet Healthcare Co. has a 52-week low of $90.03 and a 52-week high of $171.20. The firm has a market capitalization of $12.14 billion, a P/E ratio of 3.96, a P/E/G ratio of 1.02 and a beta of 2.06.

Tenet Healthcare (NYSE:THC) last announced its earnings results on Wednesday, February 12th. The company reported $3.44 earnings per share for the quarter, beating 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, analysts anticipate that Tenet Healthcare Co. will post 12.24 EPS 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.