Parametrica Management Ltd Invests $225,000 in Tenet Healthcare Co. (NYSE:THC)

Parametrica Management Ltd acquired a new stake in Tenet Healthcare Co. (NYSE:THC) in the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 1,785 shares of the company’s stock, valued at approximately $225,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of THC. Coldstream Capital Management Inc. boosted its holdings in shares of Tenet Healthcare by 2.2% in the 3rd quarter. Coldstream Capital Management Inc. now owns 3,406 shares of the company’s stock valued at $566,000 after buying an additional 74 shares during the period. EverSource Wealth Advisors LLC grew its holdings in shares of Tenet Healthcare by 9.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 940 shares of the company’s stock valued at $119,000 after purchasing an additional 80 shares during the last quarter. Spire Wealth Management raised 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 worth $70,000 after purchasing an additional 91 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in Tenet Healthcare by 1.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 8,109 shares of the company’s stock valued at $1,024,000 after purchasing an additional 100 shares during the period. Finally, Smartleaf Asset Management LLC increased its position in Tenet Healthcare by 30.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 471 shares of the company’s stock worth $59,000 after buying an additional 110 shares during the period. Institutional investors and hedge funds own 95.44% of the company’s stock.

Tenet Healthcare Stock Up 1.0 %

Shares of Tenet Healthcare stock opened at $130.80 on Wednesday. The stock’s fifty day moving average is $132.29 and its 200-day moving average is $142.77. The firm has a market capitalization of $12.44 billion, a PE ratio of 4.06, a price-to-earnings-growth ratio of 1.02 and a beta of 2.06. Tenet Healthcare Co. has a 12-month low of $90.03 and a 12-month high of $171.20. The company has a quick ratio of 1.70, a current ratio of 1.78 and a debt-to-equity ratio of 2.25.

Tenet Healthcare (NYSE:THC) last announced its earnings results on Wednesday, February 12th. The company reported $3.44 EPS for the quarter, topping the consensus estimate of $2.95 by $0.49. Tenet Healthcare had a net margin of 15.48% and a return on equity of 21.88%. Equities analysts anticipate that Tenet Healthcare Co. will post 12.24 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on THC. KeyCorp lowered their price target on shares of Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Truist Financial reduced their price objective on Tenet Healthcare from $190.00 to $175.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Barclays lowered their target price on Tenet Healthcare from $190.00 to $161.00 and set an “overweight” rating on the stock in a research report on Thursday, February 13th. The Goldman Sachs Group cut Tenet Healthcare from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $196.00 to $140.00 in a research note on Monday, December 16th. Finally, StockNews.com raised shares of Tenet Healthcare from a “hold” rating to a “buy” rating in a report on Thursday, March 13th. Three 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 company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $163.88.

Insider Activity

In related news, Director J Robert Kerrey sold 9,525 shares of the company’s stock in a transaction on Tuesday, March 11th. The stock was 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. The trade was a 25.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.93% of the company’s stock.

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.