Taika Capital LP Acquires Shares of 3,944 Tenet Healthcare Co. (NYSE:THC)

Taika Capital LP acquired a new stake in shares of Tenet Healthcare Co. (NYSE:THC) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 3,944 shares of the company’s stock, valued at approximately $498,000.

Other hedge funds have also recently bought and sold shares of the company. Plato Investment Management Ltd acquired a new position in Tenet Healthcare in the third quarter worth about $28,000. True Wealth Design LLC acquired a new position in Tenet Healthcare in the third quarter worth about $38,000. WR Wealth Planners LLC grew its stake in Tenet Healthcare by 2,836.4% in the fourth quarter. WR Wealth Planners LLC now owns 323 shares of the company’s stock worth $41,000 after purchasing an additional 312 shares in the last quarter. Smartleaf Asset Management LLC grew its stake 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 purchasing an additional 110 shares in the last quarter. Finally, Kestra Investment Management LLC acquired a new position in Tenet Healthcare in the fourth quarter worth about $60,000. Institutional investors and hedge funds own 95.44% of the company’s stock.

Tenet Healthcare Stock Performance

THC stock opened at $127.64 on Monday. The company has a market capitalization of $12.14 billion, a P/E ratio of 3.96, a PEG ratio of 1.02 and a beta of 2.06. The company has a 50-day simple moving average of $132.66 and a 200 day simple moving average of $145.89. Tenet Healthcare Co. has a fifty-two week low of $90.03 and a fifty-two week 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 quarterly earnings data on Wednesday, February 12th. The company reported $3.44 earnings per share for the quarter, beating 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%. Sell-side analysts predict that Tenet Healthcare Co. will post 12.24 earnings per share for the current fiscal year.

Analyst Ratings Changes

THC has been the subject of several research reports. 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. KeyCorp decreased their price target 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. Raymond James lowered shares of Tenet Healthcare from a “strong-buy” rating to an “outperform” rating and set a $195.00 price target for the company. in a report on Friday, November 22nd. TD Cowen started coverage on shares of Tenet Healthcare in a report on Wednesday, February 26th. They issued a “buy” rating and a $175.00 price target for the company. 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. Four research 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 company. According to MarketBeat, Tenet Healthcare presently has an average rating of “Moderate Buy” and a consensus price target 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.