16,423 Shares in Tenet Healthcare Co. (NYSE:THC) Purchased by LGT Fund Management Co Ltd.

LGT Fund Management Co Ltd. purchased a new position in Tenet Healthcare Co. (NYSE:THC) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 16,423 shares of the company’s stock, valued at approximately $2,073,000.

Several other institutional investors have also added to or reduced their stakes in the business. Coldstream Capital Management Inc. lifted its holdings in Tenet Healthcare by 2.2% during the third quarter. Coldstream Capital Management Inc. now owns 3,406 shares of the company’s stock valued at $566,000 after purchasing an additional 74 shares during the last quarter. Spire Wealth Management lifted its holdings in Tenet Healthcare by 19.5% during the fourth quarter. Spire Wealth Management now owns 558 shares of the company’s stock valued at $70,000 after purchasing an additional 91 shares during the last quarter. CIBC Asset Management Inc lifted its holdings in shares of Tenet Healthcare by 3.4% in the third quarter. CIBC Asset Management Inc now owns 2,887 shares of the company’s stock worth $480,000 after buying an additional 94 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Tenet Healthcare by 1.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 8,109 shares of the company’s stock worth $1,024,000 after buying an additional 100 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of Tenet Healthcare by 30.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 471 shares of the company’s stock worth $59,000 after buying an additional 110 shares in the last quarter. 95.44% of the stock is owned by hedge funds and other institutional investors.

Tenet Healthcare Stock Down 1.7 %

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

Tenet Healthcare (NYSE:THC) last issued its earnings results 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%. As a group, analysts expect that Tenet Healthcare Co. will post 12.24 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

THC has been the topic of a number of recent analyst reports. TD Cowen initiated coverage on shares of Tenet Healthcare in a report on Wednesday, February 26th. They issued a “buy” rating and a $175.00 price target on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued 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. Barclays decreased their price objective on shares of Tenet Healthcare from $190.00 to $161.00 and set an “overweight” rating on the stock in a research report on Thursday, February 13th. Finally, Wells Fargo & Company cut shares of Tenet Healthcare from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $205.00 to $150.00 in a research report on Monday, November 25th. Three equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $163.88.

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.