Optimist Retirement Group LLC Boosts Stock Holdings in Tenet Healthcare Co. (NYSE:THC)

Optimist Retirement Group LLC lifted its holdings in shares of Tenet Healthcare Co. (NYSE:THC) by 20.3% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,965 shares of the company’s stock after purchasing an additional 331 shares during the period. Optimist Retirement Group LLC’s holdings in Tenet Healthcare were worth $248,000 as of its most recent filing with the Securities and Exchange Commission.

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

Tenet Healthcare Stock Up 0.9 %

Shares of NYSE:THC opened at $145.00 on Thursday. Tenet Healthcare Co. has a 12-month low of $86.70 and a 12-month high of $171.20. The stock’s 50-day moving average price is $134.04 and its two-hundred day moving average price is $148.62. The company has a current ratio of 1.58, a quick ratio of 1.52 and a debt-to-equity ratio of 2.35. The firm has a market cap of $13.79 billion, a price-to-earnings ratio of 4.65, a PEG ratio of 0.63 and a beta of 2.05.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on THC shares. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $175.00 price objective on shares of Tenet Healthcare in a report on Tuesday, December 17th. Raymond James cut shares of Tenet Healthcare from a “strong-buy” rating to an “outperform” rating and set a $195.00 price objective on the stock. in a research note on Friday, November 22nd. Truist Financial cut their target price on shares of Tenet Healthcare from $190.00 to $175.00 and set a “buy” rating for the company in a research report on Monday, January 6th. KeyCorp dropped their price objective on shares of Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Finally, Royal Bank of Canada increased their target price on Tenet Healthcare from $174.00 to $183.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. 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. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $165.00.

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.