Hedeker Wealth LLC Makes New $2.46 Million Investment in Tenet Healthcare Co. (NYSE:THC)

Hedeker Wealth LLC acquired a new position in Tenet Healthcare Co. (NYSE:THC) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 19,499 shares of the company’s stock, valued at approximately $2,461,000.

A number of other large investors have also modified their holdings of THC. Plato Investment Management Ltd acquired a new position in Tenet Healthcare during the 3rd quarter valued at about $28,000. ORG Wealth Partners LLC bought a new position in shares of Tenet Healthcare during the 3rd quarter valued at about $30,000. Financial Management Professionals Inc. boosted its position in shares of Tenet Healthcare by 2,222.2% during the 3rd quarter. Financial Management Professionals Inc. now owns 209 shares of the company’s stock valued at $35,000 after purchasing an additional 200 shares in the last quarter. True Wealth Design LLC bought a new position in shares of Tenet Healthcare during the 3rd quarter valued at about $38,000. Finally, Spire Wealth Management boosted its position in shares of Tenet Healthcare by 19.5% during the 4th quarter. Spire Wealth Management now owns 558 shares of the company’s stock valued at $70,000 after purchasing an additional 91 shares in the last quarter. Institutional investors and hedge funds own 95.44% of the company’s stock.

Tenet Healthcare Stock Down 3.6 %

Shares of NYSE:THC opened at $139.76 on Friday. The company’s fifty day moving average is $134.00 and its 200-day moving average is $148.55. 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 52 week low of $86.70 and a 52 week high of $171.20. The company has a market capitalization of $13.29 billion, a PE ratio of 4.48, a P/E/G ratio of 0.63 and a beta of 2.05.

Wall Street Analysts Forecast Growth

Several research analysts have commented on THC shares. Royal Bank of Canada raised their target price 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. UBS Group raised their target price on shares of Tenet Healthcare from $197.00 to $217.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Truist Financial reduced their price target 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. Wells Fargo & Company lowered shares of Tenet Healthcare from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $205.00 to $150.00 in a research report on Monday, November 25th. Finally, The Goldman Sachs Group lowered shares of Tenet Healthcare from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $196.00 to $140.00 in a research report on Monday, December 16th. Three investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average 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.