Hedeker Wealth LLC Makes New Investment in Tenet Healthcare Co. (NYSE:THC)

Hedeker Wealth LLC acquired a new position in shares of Tenet Healthcare Co. (NYSE:THC) in the 4th quarter, Holdings Channel.com reports. The firm acquired 19,499 shares of the company’s stock, valued at approximately $2,461,000.

Other institutional investors also recently modified their holdings of the company. New Wave Wealth Advisors LLC acquired a new position in shares of Tenet Healthcare during the 4th quarter worth about $343,000. Swedbank AB grew its position in shares of Tenet Healthcare by 100.0% in the 4th quarter. Swedbank AB now owns 40,000 shares of the company’s stock valued at $5,049,000 after purchasing an additional 20,000 shares during the period. Legacy Capital Group California Inc. acquired a new position in shares of Tenet Healthcare in the 3rd quarter valued at approximately $1,055,000. Signet Financial Management LLC acquired a new position in shares of Tenet Healthcare in the 4th quarter valued at approximately $1,526,000. Finally, Intech Investment Management LLC boosted its position in Tenet Healthcare by 44.4% during the 3rd quarter. Intech Investment Management LLC now owns 79,266 shares of the company’s stock worth $13,174,000 after acquiring an additional 24,385 shares during the last quarter. 95.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on THC. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $175.00 price objective on shares of Tenet Healthcare in a research note on Tuesday, December 17th. Truist Financial lowered their price objective on Tenet Healthcare from $190.00 to $175.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. StockNews.com cut Tenet Healthcare from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, December 17th. Royal Bank of Canada raised their price target on Tenet Healthcare from $174.00 to $183.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, Cantor Fitzgerald boosted their price target on Tenet Healthcare from $168.00 to $177.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Three equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $165.00.

Tenet Healthcare Stock Down 3.6 %

Shares of NYSE:THC opened at $139.76 on Friday. The business’s 50 day moving average is $134.00 and its 200 day moving average is $148.55. The company has a quick ratio of 1.52, a current ratio of 1.58 and a debt-to-equity ratio of 2.35. The stock has a market cap of $13.29 billion, a P/E ratio of 4.48, a price-to-earnings-growth ratio of 0.63 and a beta of 2.05. Tenet Healthcare Co. has a 52-week low of $86.70 and a 52-week high of $171.20.

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.