Impact Partnership Wealth LLC Makes New $338,000 Investment in Tenet Healthcare Co. (NYSE:THC)

Impact Partnership Wealth LLC acquired a new position in Tenet Healthcare Co. (NYSE:THC) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,679 shares of the company’s stock, valued at approximately $338,000.

A number of other hedge funds have also added to or reduced their stakes in the business. Inspire Investing LLC boosted its stake in shares of Tenet Healthcare by 25.6% during the 4th quarter. Inspire Investing LLC now owns 6,496 shares of the company’s stock worth $820,000 after buying an additional 1,326 shares during the last quarter. SG Americas Securities LLC grew its stake in Tenet Healthcare by 81.9% in the fourth quarter. SG Americas Securities LLC now owns 8,077 shares of the company’s stock valued at $1,020,000 after purchasing an additional 3,637 shares in the last quarter. Crossmark Global Holdings Inc. increased its position in shares of Tenet Healthcare by 41.1% during the 4th quarter. Crossmark Global Holdings Inc. now owns 8,731 shares of the company’s stock worth $1,102,000 after purchasing an additional 2,544 shares during the last quarter. Wedge Capital Management L L P NC boosted its holdings in shares of Tenet Healthcare by 3.1% in the 4th quarter. Wedge Capital Management L L P NC now owns 238,465 shares of the company’s stock valued at $30,101,000 after buying an additional 7,112 shares during the last quarter. Finally, Hennessy Advisors Inc. grew its stake in shares of Tenet Healthcare by 6.8% in the fourth quarter. Hennessy Advisors Inc. now owns 96,800 shares of the company’s stock valued at $12,219,000 after buying an additional 6,200 shares in the last quarter. Institutional investors own 95.44% of the company’s stock.

Wall Street Analyst Weigh In

THC has been the subject of a number of recent analyst reports. Wells Fargo & Company cut shares of Tenet Healthcare from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $205.00 to $150.00 in a research note on Monday, November 25th. JPMorgan Chase & Co. reissued an “overweight” rating and set a $175.00 price target on shares of Tenet Healthcare in a research report on Tuesday, December 17th. The Goldman Sachs Group downgraded Tenet Healthcare from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $196.00 to $140.00 in a research note on Monday, December 16th. Barclays raised their price target on Tenet Healthcare from $171.00 to $190.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Finally, UBS Group upped their price objective on shares of Tenet Healthcare from $197.00 to $217.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Three analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Tenet Healthcare has a consensus rating of “Moderate Buy” and an average target price of $165.00.

Tenet Healthcare Stock Performance

NYSE:THC opened at $135.50 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. Tenet Healthcare Co. has a fifty-two week low of $80.53 and a fifty-two week high of $171.20. The company has a market cap of $12.89 billion, a price-to-earnings ratio of 4.34, a PEG ratio of 0.60 and a beta of 2.06. The stock has a fifty day moving average price of $134.94 and a 200-day moving average price of $147.98.

Tenet Healthcare (NYSE:THC) last released its earnings results on Tuesday, October 29th. The company reported $2.93 EPS for the quarter, beating the consensus estimate of $2.33 by $0.60. The firm had revenue of $5.12 billion for 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 business’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same period last year, the firm earned $1.44 EPS. As a group, equities analysts anticipate that Tenet Healthcare Co. will post 11.37 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Lisa Y. Foo sold 4,000 shares of the stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $155.94, for a total value of $623,760.00. Following the completion of the transaction, the executive vice president now owns 15,566 shares of the company’s stock, valued at approximately $2,427,362.04. This represents a 20.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.93% of the company’s stock.

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.