Jackson Creek Investment Advisors LLC Increases Stock Position in Tenet Healthcare Co. (NYSE:THC)

Jackson Creek Investment Advisors LLC boosted its stake in Tenet Healthcare Co. (NYSE:THC) by 10.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,716 shares of the company’s stock after purchasing an additional 263 shares during the quarter. Jackson Creek Investment Advisors LLC’s holdings in Tenet Healthcare were worth $343,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Coldstream Capital Management Inc. raised its position in shares of Tenet Healthcare by 2.2% during 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 in 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 valued at $70,000 after buying an additional 91 shares in the last quarter. CIBC Asset Management Inc raised its position in shares of Tenet Healthcare by 3.4% during the 3rd quarter. CIBC Asset Management Inc now owns 2,887 shares of the company’s stock valued at $480,000 after buying an additional 94 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of 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 buying an additional 100 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its position in shares of Tenet Healthcare by 30.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 471 shares of the company’s stock valued at $59,000 after buying an additional 110 shares in the last quarter. 95.44% of the stock is currently owned by hedge funds and other institutional investors.

Tenet Healthcare Trading Up 1.8 %

NYSE THC opened at $127.64 on Friday. The company has a fifty day simple moving average of $132.66 and a two-hundred day simple moving average of $145.98. The stock has a market cap of $12.14 billion, a P/E ratio of 3.96, a P/E/G 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 current ratio of 1.78, a quick ratio of 1.70 and a debt-to-equity ratio of 2.25.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $3.44 earnings per share (EPS) 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 forecast that Tenet Healthcare Co. will post 12.24 earnings per share for the current year.

Wall Street Analysts Forecast Growth

THC has been the topic of several analyst reports. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $175.00 price target on shares of Tenet Healthcare in a report on Tuesday, December 17th. Raymond James downgraded shares of Tenet Healthcare from a “strong-buy” rating to an “outperform” rating and set a $195.00 price target on the stock. in a report on Friday, November 22nd. Truist Financial cut their price target on shares of Tenet Healthcare from $190.00 to $175.00 and set a “buy” rating on the stock in a report on Monday, January 6th. The Goldman Sachs Group downgraded shares of Tenet Healthcare from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $196.00 to $140.00 in a research note on Monday, December 16th. Finally, Wells Fargo & Company downgraded shares of Tenet Healthcare from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $205.00 to $150.00 in a research note on Monday, November 25th. Four research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $163.88.

Tenet Healthcare Company 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.