Moran Wealth Management LLC Purchases 375 Shares of Tenet Healthcare Co. (NYSE:THC)

Moran Wealth Management LLC raised its holdings in Tenet Healthcare Co. (NYSE:THC) by 18.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,439 shares of the company’s stock after purchasing an additional 375 shares during the period. Moran Wealth Management LLC’s holdings in Tenet Healthcare were worth $308,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of THC. New Wave Wealth Advisors LLC bought a new stake in Tenet Healthcare during the 4th quarter valued at $343,000. Swedbank AB lifted its holdings in Tenet Healthcare by 100.0% during the 4th quarter. Swedbank AB now owns 40,000 shares of the company’s stock worth $5,049,000 after purchasing an additional 20,000 shares in the last quarter. Signet Financial Management LLC bought a new position in Tenet Healthcare in the 4th quarter worth about $1,526,000. China Universal Asset Management Co. Ltd. bought a new stake in shares of Tenet Healthcare during the fourth quarter valued at about $410,000. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in shares of Tenet Healthcare in the fourth quarter worth about $5,892,000. Institutional investors own 95.44% of the company’s stock.

Tenet Healthcare Stock Performance

Shares of NYSE:THC opened at $121.11 on Thursday. 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 company has a market cap of $11.52 billion, a price-to-earnings ratio of 3.76, 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 50-day moving average price of $132.57 and a 200-day moving average price of $145.21.

Tenet Healthcare (NYSE:THC) last released its quarterly earnings data on Wednesday, February 12th. The company reported $3.44 earnings per share for the quarter, topping the consensus estimate 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, equities analysts anticipate that Tenet Healthcare Co. will post 12.24 EPS for the current year.

Insider Activity

In other Tenet Healthcare news, Director J Robert Kerrey sold 9,525 shares of Tenet Healthcare stock in a transaction that occurred 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 sale, 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.93% of the company’s stock.

Wall Street Analysts Forecast Growth

THC has been the topic of a number of analyst reports. StockNews.com raised shares of Tenet Healthcare from a “hold” rating to a “buy” rating in a report on Thursday. Barclays lowered their price objective 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. Raymond James cut Tenet Healthcare from a “strong-buy” rating to an “outperform” rating and set a $195.00 target price for the company. in a research report on Friday, November 22nd. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $175.00 price target on shares of Tenet Healthcare in a report on Tuesday, December 17th. Finally, TD Cowen began coverage on shares of Tenet Healthcare in a research report on Wednesday, February 26th. They issued a “buy” rating and a $175.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $163.88.

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.