Envestnet Portfolio Solutions Inc. Purchases 186 Shares of Tenet Healthcare Co. (NYSE:THC)

Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Tenet Healthcare Co. (NYSE:THC) by 1.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 12,647 shares of the company’s stock after buying an additional 186 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Tenet Healthcare were worth $1,596,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in THC. Catalyst Funds Management Pty Ltd lifted its position in shares of Tenet Healthcare by 26.7% during the 4th quarter. Catalyst Funds Management Pty Ltd now owns 10,900 shares of the company’s stock valued at $1,376,000 after buying an additional 2,300 shares in the last quarter. CFO4Life Group LLC purchased a new position in Tenet Healthcare during the fourth quarter valued at approximately $313,000. Skandinaviska Enskilda Banken AB publ increased its stake in shares of Tenet Healthcare by 120.1% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 78,800 shares of the company’s stock worth $9,883,000 after purchasing an additional 43,000 shares in the last quarter. Avantax Advisory Services Inc. lifted its stake in shares of Tenet Healthcare by 3.0% during the 4th quarter. Avantax Advisory Services Inc. now owns 5,433 shares of the company’s stock valued at $686,000 after buying an additional 157 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in Tenet Healthcare by 9.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 940 shares of the company’s stock worth $119,000 after buying an additional 80 shares during the period. 95.44% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on THC. Barclays dropped their price objective on Tenet Healthcare from $190.00 to $161.00 and set an “overweight” rating for the company in a research note on Thursday, February 13th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $177.00 price objective on shares of Tenet Healthcare in a report on Thursday, February 13th. Truist Financial dropped 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. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $175.00 price target on shares of Tenet Healthcare in a research note on Tuesday, December 17th. Finally, StockNews.com upgraded Tenet Healthcare from a “hold” rating to a “buy” rating in a research report on Thursday, March 13th. Three investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Tenet Healthcare has a consensus rating of “Moderate Buy” and a consensus price target of $163.88.

Insider Buying and Selling at Tenet Healthcare

In other news, Director J Robert Kerrey sold 9,525 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $125.43, for a total transaction of $1,194,720.75. Following the transaction, the director now directly owns 27,378 shares of the company’s stock, valued at approximately $3,434,022.54. This trade represents a 25.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.93% of the stock is currently owned by corporate insiders.

Tenet Healthcare Stock Down 2.7 %

NYSE THC opened at $122.87 on Friday. 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 $11.69 billion, a price-to-earnings ratio of 3.81, a PEG ratio of 1.02 and a beta of 2.06. The company has a quick ratio of 1.70, a current ratio of 1.78 and a debt-to-equity ratio of 2.25. The company has a fifty day moving average of $132.20 and a two-hundred day moving average of $143.41.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $3.44 earnings per share for the quarter, topping analysts’ consensus estimates of $2.95 by $0.49. Tenet Healthcare had a net margin of 15.48% and a return on equity of 21.88%. On average, analysts predict that Tenet Healthcare Co. will post 12.24 earnings per share for the current 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.