Tenet Healthcare Co. (NYSE:THC) Shares Purchased by Jaffetilchin Investment Partners LLC

Jaffetilchin Investment Partners LLC lifted its position in shares of Tenet Healthcare Co. (NYSE:THC) by 51.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,695 shares of the company’s stock after purchasing an additional 573 shares during the period. Jaffetilchin Investment Partners LLC’s holdings in Tenet Healthcare were worth $214,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its stake in shares of Tenet Healthcare by 3.5% in the fourth quarter. Geode Capital Management LLC now owns 2,116,121 shares of the company’s stock worth $268,591,000 after buying an additional 71,454 shares during the last quarter. Norges Bank bought a new stake in Tenet Healthcare in the 4th quarter valued at about $190,819,000. Allianz Asset Management GmbH boosted its position in shares of Tenet Healthcare by 15.1% during the fourth quarter. Allianz Asset Management GmbH now owns 577,143 shares of the company’s stock worth $72,853,000 after buying an additional 75,688 shares during the period. Wealthfront Advisers LLC bought a new position in shares of Tenet Healthcare in the fourth quarter worth $69,059,000. Finally, Victory Capital Management Inc. increased its stake in Tenet Healthcare by 68.9% during the 4th quarter. Victory Capital Management Inc. now owns 507,055 shares of the company’s stock valued at $64,006,000 after buying an additional 206,907 shares during the period. 95.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Guggenheim began coverage on Tenet Healthcare in a research note on Wednesday. They issued a “buy” rating and a $165.00 price objective on the stock. StockNews.com raised shares of Tenet Healthcare from a “hold” rating to a “buy” rating in a research note on Thursday, March 13th. The Goldman Sachs Group downgraded Tenet Healthcare from a “buy” rating to a “neutral” rating and dropped their target price for the company from $196.00 to $140.00 in a report on Monday, December 16th. KeyCorp cut their price objective on Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $175.00 target price on shares of Tenet Healthcare in a research note on Tuesday, December 17th. Three analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Tenet Healthcare presently has an average rating of “Moderate Buy” and a consensus price target of $166.33.

Tenet Healthcare Trading Down 3.0 %

Tenet Healthcare stock opened at $123.70 on Friday. The business has a 50 day moving average price of $129.77 and a two-hundred day moving average price of $139.60. The company has a quick ratio of 1.70, a current ratio of 1.78 and a debt-to-equity ratio of 2.25. The stock has a market cap of $11.77 billion, a price-to-earnings ratio of 3.84, a price-to-earnings-growth ratio of 1.02 and a beta of 1.77. Tenet Healthcare Co. has a 12 month low of $90.03 and a 12 month high of $171.20.

Tenet Healthcare (NYSE:THC) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $3.44 EPS for the quarter, topping analysts’ consensus estimates 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 forecast that Tenet Healthcare Co. will post 12.24 EPS for the current year.

Insider Transactions at Tenet Healthcare

In related news, Director J Robert Kerrey sold 9,525 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at $3,434,022.54. This trade represents a 25.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.93% of the stock is owned by insiders.

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.