Forum Financial Management LP Acquires 749 Shares of Tenet Healthcare Co. (NYSE:THC)

Forum Financial Management LP lifted its stake in Tenet Healthcare Co. (NYSE:THC) by 43.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,469 shares of the company’s stock after buying an additional 749 shares during the period. Forum Financial Management LP’s holdings in Tenet Healthcare were worth $312,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. GeoWealth Management LLC boosted its stake in shares of Tenet Healthcare by 39.8% during the fourth quarter. GeoWealth Management LLC now owns 295 shares of the company’s stock valued at $37,000 after purchasing an additional 84 shares during the period. Alpha DNA Investment Management LLC grew its holdings in Tenet Healthcare by 10.1% in the 4th quarter. Alpha DNA Investment Management LLC now owns 3,352 shares of the company’s stock worth $423,000 after acquiring an additional 307 shares during the last quarter. Zacks Investment Management increased its position in shares of Tenet Healthcare by 13.9% in the fourth quarter. Zacks Investment Management now owns 22,931 shares of the company’s stock valued at $2,895,000 after acquiring an additional 2,804 shares during the period. Jump Financial LLC boosted its holdings in shares of Tenet Healthcare by 605.9% during the fourth quarter. Jump Financial LLC now owns 83,055 shares of the company’s stock worth $10,484,000 after purchasing an additional 71,289 shares during the period. Finally, Bridgewater Associates LP increased its holdings in Tenet Healthcare by 225.4% during the 4th quarter. Bridgewater Associates LP now owns 407,194 shares of the company’s stock valued at $51,400,000 after purchasing an additional 282,071 shares during the period. 95.44% of the stock is currently owned by hedge funds and other institutional investors.

Tenet Healthcare Stock Performance

THC stock opened at $110.60 on Tuesday. Tenet Healthcare Co. has a 12-month low of $92.01 and a 12-month high of $171.20. The stock’s 50 day simple moving average is $127.57 and its 200 day simple moving average is $137.69. 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 stock has a market capitalization of $10.44 billion, a PE ratio of 3.43, a price-to-earnings-growth ratio of 1.02 and a beta of 1.77.

Tenet Healthcare (NYSE:THC) last released its quarterly earnings data 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 return on equity of 21.88% and a net margin of 15.48%. As a group, research analysts forecast that Tenet Healthcare Co. will post 12.24 earnings per share for the current fiscal year.

Analysts Set New Price Targets

THC has been the topic of several research analyst reports. Barclays reduced their target price on Tenet Healthcare from $190.00 to $161.00 and set an “overweight” rating on the stock in a research note on Thursday, February 13th. Baird R W lowered shares of Tenet Healthcare from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 15th. Robert W. Baird reaffirmed a “neutral” rating and set a $137.00 target price (down previously from $153.00) on shares of Tenet Healthcare in a research note on Tuesday, April 15th. Morgan Stanley initiated coverage on shares of Tenet Healthcare in a report on Wednesday, March 26th. They issued an “overweight” rating and a $165.00 price objective for the company. Finally, StockNews.com raised Tenet Healthcare from a “hold” rating to a “buy” rating in a research report on Thursday, March 13th. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $165.44.

Insider Activity

In other Tenet Healthcare news, Director J Robert Kerrey sold 9,525 shares of the business’s stock in a transaction dated 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 completion of the sale, the director now directly owns 27,378 shares in the company, valued at $3,434,022.54. The trade was a 25.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.93% of the company’s stock.

Tenet Healthcare Company 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.