Venturi Wealth Management LLC Has $220,000 Stake in Tenet Healthcare Co. (NYSE:THC)

Venturi Wealth Management LLC increased its position in Tenet Healthcare Co. (NYSE:THC) by 234.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,740 shares of the company’s stock after purchasing an additional 1,219 shares during the period. Venturi Wealth Management LLC’s holdings in Tenet Healthcare were worth $220,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Plato Investment Management Ltd acquired a new stake in shares of Tenet Healthcare during the 3rd quarter valued at $28,000. Financial Management Professionals Inc. boosted its stake in shares of Tenet Healthcare by 2,222.2% during the 3rd quarter. Financial Management Professionals Inc. now owns 209 shares of the company’s stock valued at $35,000 after buying an additional 200 shares during the period. True Wealth Design LLC acquired a new stake in shares of Tenet Healthcare during the 3rd quarter valued at $38,000. Wilmington Savings Fund Society FSB boosted its stake in shares of Tenet Healthcare by 1,352.8% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 523 shares of the company’s stock valued at $66,000 after buying an additional 487 shares during the period. Finally, Spire Wealth Management boosted its stake 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 during the period. Institutional investors and hedge funds own 95.44% of the company’s stock.

Tenet Healthcare Stock Performance

NYSE:THC opened at $129.57 on Friday. The firm’s 50-day moving average is $132.90 and its 200-day moving average is $147.69. Tenet Healthcare Co. has a 52-week low of $88.98 and a 52-week high of $171.20. The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.70 and a current ratio of 1.78. The company has a market cap of $12.32 billion, a price-to-earnings ratio of 4.02, a PEG ratio of 1.01 and a beta of 2.05.

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

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $177.00 price target on shares of Tenet Healthcare in a report on Thursday, February 13th. 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. Wells Fargo & Company downgraded 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 report on Monday, November 25th. JPMorgan Chase & Co. restated an “overweight” rating and set a $175.00 price target on shares of Tenet Healthcare in a report on Tuesday, December 17th. Finally, 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. Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Tenet Healthcare has an average rating of “Moderate Buy” and an average price target of $163.19.

About Tenet Healthcare

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.