Denali Advisors LLC Acquires 7,929 Shares of Tenet Healthcare Co. (NYSE:THC)

Denali Advisors LLC increased its stake in Tenet Healthcare Co. (NYSE:THC) by 31.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,515 shares of the company’s stock after purchasing an additional 7,929 shares during the period. Denali Advisors LLC’s holdings in Tenet Healthcare were worth $4,231,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Plato Investment Management Ltd acquired a new position in shares of Tenet Healthcare in the 3rd quarter valued at $28,000. True Wealth Design LLC bought a new stake in shares of Tenet Healthcare in the 3rd quarter valued at about $38,000. Kestra Investment Management LLC bought a new position in Tenet Healthcare during the 4th quarter worth approximately $60,000. Wilmington Savings Fund Society FSB grew its holdings in Tenet Healthcare by 1,352.8% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 523 shares of the company’s stock valued at $66,000 after purchasing an additional 487 shares during the period. Finally, Spire Wealth Management raised its holdings in Tenet Healthcare by 19.5% in the fourth 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. Institutional investors and hedge funds own 95.44% of the company’s stock.

Tenet Healthcare Trading Up 2.5 %

Shares of Tenet Healthcare stock opened at $134.82 on Wednesday. Tenet Healthcare Co. has a 12-month low of $88.98 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. The business’s 50 day moving average is $132.90 and its 200-day moving average is $147.47. The stock has a market cap of $12.82 billion, a P/E ratio of 4.18, a P/E/G ratio of 1.02 and a beta of 2.05.

Tenet Healthcare (NYSE:THC) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $3.44 EPS for the quarter, beating 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%. Equities research analysts predict that Tenet Healthcare Co. will post 12.24 earnings per share for the current fiscal year.

Analysts Set New Price Targets

THC has been the subject of a number of recent analyst reports. Cantor Fitzgerald restated an “overweight” rating and issued a $177.00 price objective on shares of Tenet Healthcare in a research report on Thursday, February 13th. StockNews.com upgraded Tenet Healthcare from a “hold” rating to a “buy” rating in a report on Tuesday. Wells Fargo & Company lowered shares of Tenet Healthcare from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $205.00 to $150.00 in a research note on Monday, November 25th. KeyCorp cut their price objective on shares of Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Finally, Royal Bank of Canada lifted their price target on Tenet Healthcare from $174.00 to $183.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Three analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $163.19.

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.