Ieq Capital LLC Buys 28,797 Shares of Tenet Healthcare Co. (NYSE:THC)

Ieq Capital LLC boosted its holdings in shares of Tenet Healthcare Co. (NYSE:THC) by 753.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,621 shares of the company’s stock after purchasing an additional 28,797 shares during the period. Ieq Capital LLC’s holdings in Tenet Healthcare were worth $4,118,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of THC. Creative Planning increased its holdings in Tenet Healthcare by 2.9% during the 3rd quarter. Creative Planning now owns 16,099 shares of the company’s stock valued at $2,676,000 after purchasing an additional 461 shares in the last quarter. Raymond James & Associates increased its holdings in Tenet Healthcare by 24.9% during the 3rd quarter. Raymond James & Associates now owns 130,485 shares of the company’s stock valued at $21,687,000 after purchasing an additional 26,011 shares in the last quarter. Signaturefd LLC increased its stake in shares of Tenet Healthcare by 17.6% in the 3rd quarter. Signaturefd LLC now owns 628 shares of the company’s stock valued at $104,000 after buying an additional 94 shares during the period. International Assets Investment Management LLC increased its stake in shares of Tenet Healthcare by 16,520.0% in the 3rd quarter. International Assets Investment Management LLC now owns 18,282 shares of the company’s stock valued at $3,038,000 after buying an additional 18,172 shares during the period. Finally, Legacy Capital Group California Inc. acquired a new stake in shares of Tenet Healthcare in the 3rd quarter valued at $1,055,000. 95.44% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently commented on THC. Barclays lowered their target price on Tenet Healthcare from $190.00 to $161.00 and set an “overweight” rating for the company in a research note on Thursday, February 13th. UBS Group lifted their target price on Tenet Healthcare from $197.00 to $217.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Raymond James cut Tenet Healthcare from a “strong-buy” rating to an “outperform” rating and set a $195.00 target price for the company. in a research note on Friday, November 22nd. Royal Bank of Canada lifted their price objective on Tenet Healthcare from $174.00 to $183.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Finally, StockNews.com cut Tenet Healthcare from a “buy” rating to a “hold” rating in a research note on Thursday, February 13th. Four investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $163.19.

Tenet Healthcare Stock Performance

THC stock opened at $129.57 on Friday. The business’s 50-day moving average price is $132.90 and its two-hundred day moving average price is $147.69. 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 firm has a market cap of $12.32 billion, a PE ratio of 4.02, a P/E/G ratio of 1.01 and a beta of 2.05. Tenet Healthcare Co. has a 1-year low of $88.98 and a 1-year high of $171.20.

Tenet Healthcare (NYSE:THC) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $3.44 EPS for the quarter, beating analysts’ consensus estimates 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 year.

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.