Proficio Capital Partners LLC Makes New Investment in Tenet Healthcare Co. (NYSE:THC)

Proficio Capital Partners LLC bought a new position in Tenet Healthcare Co. (NYSE:THC) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 46,200 shares of the company’s stock, valued at approximately $5,832,000.

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

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on THC shares. KeyCorp decreased their target price on Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Wells Fargo & Company lowered Tenet Healthcare from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $205.00 to $150.00 in a research report on Monday, November 25th. StockNews.com upgraded shares of Tenet Healthcare from a “hold” rating to a “buy” rating in a research note on Tuesday, February 25th. Barclays cut their price objective on shares of Tenet Healthcare from $190.00 to $161.00 and set an “overweight” rating on the stock in a report on Thursday, February 13th. Finally, The Goldman Sachs Group lowered shares of Tenet Healthcare from a “buy” rating to a “neutral” rating and lowered their target price for the company from $196.00 to $140.00 in a report on Monday, December 16th. Three equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $163.88.

Tenet Healthcare Price Performance

Shares of THC opened at $124.48 on Tuesday. The company has a market capitalization of $11.84 billion, a P/E ratio of 3.86, a P/E/G ratio of 1.02 and a beta of 2.05. The business’s 50-day moving average is $132.92 and its two-hundred day moving average is $146.77. The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.70 and a current ratio of 1.78. Tenet Healthcare Co. has a fifty-two week low of $90.03 and a fifty-two week high of $171.20.

Tenet Healthcare (NYSE:THC) last posted its earnings results on Wednesday, February 12th. The company reported $3.44 earnings per share (EPS) for the quarter, beating 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%. Research analysts predict that Tenet Healthcare Co. will post 12.24 earnings per share 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.