Inspire Advisors LLC Acquires Shares of 7,397 Tenet Healthcare Co. (NYSE:THC)

Inspire Advisors LLC acquired a new stake in Tenet Healthcare Co. (NYSE:THC) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,397 shares of the company’s stock, valued at approximately $934,000.

Other large investors also recently bought and sold shares of the company. Plato Investment Management Ltd acquired a new position in Tenet Healthcare in the third quarter valued at $28,000. True Wealth Design LLC acquired a new stake in shares of Tenet Healthcare during the third quarter worth about $38,000. WR Wealth Planners LLC boosted its stake in shares of Tenet Healthcare by 2,836.4% during the fourth quarter. WR Wealth Planners LLC now owns 323 shares of the company’s stock worth $41,000 after buying an additional 312 shares during the period. Smartleaf Asset Management LLC boosted its stake in shares of Tenet Healthcare by 30.5% during 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 during the period. Finally, Kestra Investment Management LLC acquired a new stake in shares of Tenet Healthcare during the fourth quarter worth about $60,000. Institutional investors and hedge funds own 95.44% of the company’s stock.

Tenet Healthcare Trading Down 1.0 %

Shares of THC opened at $126.21 on Tuesday. 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 has a 50 day simple moving average of $132.68 and a 200-day simple moving average of $145.65. Tenet Healthcare Co. has a 1-year low of $90.03 and a 1-year high of $171.20. The stock has a market cap of $12.01 billion, a price-to-earnings ratio of 3.92, a price-to-earnings-growth ratio of 1.02 and a beta of 2.06.

Tenet Healthcare (NYSE:THC) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $3.44 earnings per share 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%. Equities analysts forecast that Tenet Healthcare Co. will post 12.24 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $177.00 target price on shares of Tenet Healthcare in a research note on Thursday, February 13th. Truist Financial decreased their target price on shares of Tenet Healthcare from $190.00 to $175.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Raymond James cut shares of Tenet Healthcare from a “strong-buy” rating to an “outperform” rating and set a $195.00 price target for the company. in a report on Friday, November 22nd. JPMorgan Chase & Co. reissued an “overweight” rating and set a $175.00 price target on shares of Tenet Healthcare in a report on Tuesday, December 17th. Finally, TD Cowen initiated coverage on shares of Tenet Healthcare in a report on Wednesday, February 26th. They set a “buy” rating and a $175.00 price target for the company. Four research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $163.88.

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.