LPL Financial LLC Purchases 19,389 Shares of Tenet Healthcare Co. (NYSE:THC)

LPL Financial LLC lifted its holdings in Tenet Healthcare Co. (NYSE:THC) by 40.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 67,136 shares of the company’s stock after acquiring an additional 19,389 shares during the quarter. LPL Financial LLC’s holdings in Tenet Healthcare were worth $8,475,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. WR Wealth Planners LLC increased its stake in shares of Tenet Healthcare by 2,836.4% in the fourth quarter. WR Wealth Planners LLC now owns 323 shares of the company’s stock valued at $41,000 after buying an additional 312 shares in the last quarter. Smartleaf Asset Management LLC increased its position in Tenet Healthcare by 30.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 471 shares of the company’s stock valued at $59,000 after acquiring an additional 110 shares in the last quarter. Kestra Investment Management LLC bought a new position in shares of Tenet Healthcare in the fourth quarter worth about $60,000. Wilmington Savings Fund Society FSB lifted its position in shares of Tenet Healthcare by 1,352.8% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 523 shares of the company’s stock worth $66,000 after purchasing an additional 487 shares in the last quarter. Finally, Spire Wealth Management increased its holdings in shares of Tenet Healthcare by 19.5% in the fourth quarter. Spire Wealth Management now owns 558 shares of the company’s stock valued at $70,000 after purchasing an additional 91 shares in the last quarter. 95.44% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Tenet Healthcare

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 completion of the transaction, the director now directly owns 27,378 shares in the company, valued at $3,434,022.54. This represents a 25.81 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.93% of the stock is owned by insiders.

Analyst Ratings Changes

THC has been the topic of a number of recent research reports. The Goldman Sachs Group lowered Tenet Healthcare from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $196.00 to $140.00 in a research report on Monday, December 16th. Morgan Stanley began coverage on Tenet Healthcare in a report on Wednesday, March 26th. They issued an “overweight” rating and a $165.00 price target on the stock. StockNews.com upgraded shares of Tenet Healthcare from a “hold” rating to a “buy” rating in a research report on Thursday, March 13th. Barclays lowered their price target on shares of Tenet Healthcare from $190.00 to $161.00 and set an “overweight” rating for the company in a research report on Thursday, February 13th. Finally, 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 report on Tuesday, January 7th. 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 MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $166.41.

Tenet Healthcare Stock Down 9.5 %

Shares of Tenet Healthcare stock opened at $120.23 on Friday. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.78 and a quick ratio of 1.70. The business has a 50-day moving average of $132.13 and a two-hundred day moving average of $141.43. Tenet Healthcare Co. has a 1 year low of $90.03 and a 1 year high of $171.20. The company has a market capitalization of $11.44 billion, a P/E ratio of 3.73, a price-to-earnings-growth ratio of 1.02 and a beta of 1.77.

Tenet Healthcare (NYSE:THC) last announced its earnings results on Wednesday, February 12th. The company reported $3.44 EPS for the quarter, topping the consensus estimate of $2.95 by $0.49. Tenet Healthcare had a net margin of 15.48% and a return on equity of 21.88%. As a group, equities analysts predict that Tenet Healthcare Co. will post 12.24 EPS for the current year.

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.