New Age Alpha Advisors LLC Invests $6.90 Million in Tenet Healthcare Co. (NYSE:THC)

New Age Alpha Advisors LLC acquired a new position in shares of 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 acquired 54,692 shares of the company’s stock, valued at approximately $6,904,000. New Age Alpha Advisors LLC owned about 0.06% of Tenet Healthcare at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. True Wealth Design LLC bought a new stake in shares of Tenet Healthcare during the third quarter worth approximately $38,000. WR Wealth Planners LLC raised its holdings in shares of Tenet Healthcare by 2,836.4% in the fourth quarter. WR Wealth Planners LLC now owns 323 shares of the company’s stock valued at $41,000 after purchasing an additional 312 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in Tenet Healthcare by 30.5% during the 4th 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. Kestra Investment Management LLC bought a new position in Tenet Healthcare in the fourth quarter valued at approximately $60,000. Finally, Hantz Financial Services Inc. bought a new stake in Tenet Healthcare during the third quarter worth $83,000. Institutional investors own 95.44% of the company’s stock.

Insider Transactions at Tenet Healthcare

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

Analysts Set New Price Targets

THC has been the topic of a number of recent analyst reports. The Goldman Sachs Group lowered Tenet Healthcare from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $196.00 to $140.00 in a report on Monday, December 16th. JPMorgan Chase & Co. restated an “overweight” rating and set a $175.00 price objective on shares of Tenet Healthcare in a research report on Tuesday, December 17th. KeyCorp lowered their target price on Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. Barclays decreased their price objective on Tenet Healthcare from $190.00 to $161.00 and set an “overweight” rating on the stock in a report on Thursday, February 13th. Finally, Morgan Stanley initiated coverage on shares of Tenet Healthcare in a research report on Wednesday. They issued an “overweight” rating and a $165.00 target price for the company. Three analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $166.41.

Tenet Healthcare Price Performance

Shares of NYSE:THC opened at $134.41 on Friday. Tenet Healthcare Co. has a fifty-two week low of $90.03 and a fifty-two week high of $171.20. The company’s 50-day moving average is $132.38 and its 200 day moving average is $142.64. The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.70 and a current ratio of 1.78. The company has a market capitalization of $12.79 billion, a P/E ratio of 4.17, a price-to-earnings-growth ratio of 1.02 and a beta of 2.06.

Tenet Healthcare (NYSE:THC) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $3.44 earnings per share for the quarter, beating the consensus estimate 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, equities research analysts forecast that Tenet Healthcare Co. will post 12.24 earnings per share for the current year.

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.