EverSource Wealth Advisors LLC Has $119,000 Holdings in Tenet Healthcare Co. (NYSE:THC)

EverSource Wealth Advisors LLC lifted its holdings in shares of Tenet Healthcare Co. (NYSE:THC) by 9.3% in the 4th quarter, HoldingsChannel.com reports. The fund owned 940 shares of the company’s stock after purchasing an additional 80 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Tenet Healthcare were worth $119,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. New Wave Wealth Advisors LLC bought a new position in shares of Tenet Healthcare in the fourth quarter valued at about $343,000. Swedbank AB raised its holdings in Tenet Healthcare by 100.0% in the 4th quarter. Swedbank AB now owns 40,000 shares of the company’s stock valued at $5,049,000 after acquiring an additional 20,000 shares during the period. Signet Financial Management LLC acquired a new stake in Tenet Healthcare during the fourth quarter worth approximately $1,526,000. China Universal Asset Management Co. Ltd. acquired a new position in shares of Tenet Healthcare in the fourth quarter valued at approximately $410,000. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in Tenet Healthcare during the 4th quarter worth approximately $5,892,000. Institutional investors own 95.44% of the company’s stock.

Analyst Upgrades and Downgrades

THC has been the topic of several recent research reports. The Goldman Sachs Group cut Tenet Healthcare from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $196.00 to $140.00 in a research report on Monday, December 16th. KeyCorp cut their price objective on shares of Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. TD Cowen initiated coverage on shares of Tenet Healthcare in a research report on Wednesday, February 26th. They issued a “buy” rating and a $175.00 price target for the company. Raymond James downgraded Tenet Healthcare from a “strong-buy” rating to an “outperform” rating and set a $195.00 price target on the stock. in a research report on Friday, November 22nd. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $177.00 price objective on shares of Tenet Healthcare in a report on Thursday, February 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’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $163.88.

Tenet Healthcare Stock Performance

Shares of THC opened at $128.09 on Tuesday. The firm’s fifty day simple moving average is $132.51 and its two-hundred day simple moving average is $144.23. Tenet Healthcare Co. has a 12 month low of $90.03 and a 12 month high of $171.20. The company has a current ratio of 1.78, a quick ratio of 1.70 and a debt-to-equity ratio of 2.25. The stock has a market capitalization of $12.18 billion, a P/E ratio of 3.97, a price-to-earnings-growth ratio of 1.02 and a beta of 2.06.

Tenet Healthcare (NYSE:THC) last issued its earnings results 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 return on equity of 21.88% and a net margin of 15.48%. As a group, analysts predict that Tenet Healthcare Co. will post 12.24 EPS for the current year.

Insider Buying and Selling

In other news, Director J Robert Kerrey sold 9,525 shares of the stock in a transaction dated 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 owns 27,378 shares of the company’s stock, valued at $3,434,022.54. This represents a 25.81 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.93% of the stock is owned by insiders.

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.