4,294 Shares in Tenet Healthcare Co. (NYSE:THC) Bought by Oxford Financial Group LTD. LLC

Oxford Financial Group LTD. LLC purchased a new position in Tenet Healthcare Co. (NYSE:THC) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,294 shares of the company’s stock, valued at approximately $542,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. New Wave Wealth Advisors LLC purchased a new stake in shares of Tenet Healthcare in the fourth quarter worth $343,000. Swedbank AB grew its stake in shares of Tenet Healthcare by 100.0% in the fourth quarter. Swedbank AB now owns 40,000 shares of the company’s stock worth $5,049,000 after acquiring an additional 20,000 shares during the last quarter. Signet Financial Management LLC purchased a new stake in shares of Tenet Healthcare in the fourth quarter worth $1,526,000. China Universal Asset Management Co. Ltd. purchased a new stake in shares of Tenet Healthcare in the fourth quarter worth $410,000. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in shares of Tenet Healthcare in the fourth quarter worth $5,892,000. 95.44% of the stock is owned by hedge funds and other institutional investors.

Tenet Healthcare Stock Performance

Shares of THC opened at $126.07 on Friday. 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 business has a 50-day simple moving average of $132.31 and a two-hundred day simple moving average of $143.71. The stock has a market cap of $11.99 billion, a price-to-earnings ratio of 3.91, a PEG ratio of 1.02 and a beta of 2.06. Tenet Healthcare Co. has a 52 week low of $90.03 and a 52 week 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, topping 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%. On average, analysts expect that Tenet Healthcare Co. will post 12.24 EPS for the current year.

Insiders Place Their Bets

In related news, Director J Robert Kerrey sold 9,525 shares of the stock in a transaction dated 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 owns 27,378 shares in the company, valued at approximately $3,434,022.54. This trade represents a 25.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on THC shares. Barclays cut their target price on Tenet Healthcare from $190.00 to $161.00 and set an “overweight” rating on the stock in a research note on Thursday, February 13th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $175.00 price target on shares of Tenet Healthcare in a report on Tuesday, December 17th. The Goldman Sachs Group downgraded Tenet Healthcare from a “buy” rating to a “neutral” rating and lowered their price target for the company from $196.00 to $140.00 in a report on Monday, December 16th. Truist Financial lowered their price target on Tenet Healthcare from $190.00 to $175.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Finally, Raymond James downgraded 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. Three investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Tenet Healthcare has an average rating of “Moderate Buy” and an average target price of $163.88.

About Tenet Healthcare

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.