denkapparat Operations GmbH Invests $291,000 in Tenet Healthcare Co. (NYSE:THC)

denkapparat Operations GmbH purchased a new position in shares of Tenet Healthcare Co. (NYSE:THC) in the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 2,308 shares of the company’s stock, valued at approximately $291,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. True Wealth Design LLC purchased a new stake in shares of Tenet Healthcare in the third quarter valued at about $38,000. WR Wealth Planners LLC grew its position in Tenet Healthcare by 2,836.4% in the 4th quarter. WR Wealth Planners LLC now owns 323 shares of the company’s stock worth $41,000 after purchasing an additional 312 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in shares of 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 shares of Tenet Healthcare in the fourth quarter valued at approximately $60,000. Finally, Wilmington Savings Fund Society FSB lifted its holdings in Tenet Healthcare by 1,352.8% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 523 shares of the company’s stock worth $66,000 after acquiring an additional 487 shares during the period. 95.44% of the stock is owned by hedge funds and other institutional investors.

Tenet Healthcare Trading Up 1.0 %

Tenet Healthcare stock opened at $134.41 on Friday. The stock has a market cap of $12.79 billion, a P/E ratio of 4.17, a PEG ratio of 1.02 and a beta of 2.06. Tenet Healthcare Co. has a fifty-two week low of $90.03 and a fifty-two week high of $171.20. The firm’s fifty day moving average price is $132.38 and its 200-day moving average price 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.

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

Insiders Place Their Bets

In related news, Director J Robert Kerrey sold 9,525 shares of the company’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $125.43, for a total value of $1,194,720.75. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate 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. TD Cowen initiated coverage on Tenet Healthcare in a research note on Wednesday, February 26th. They set a “buy” rating and a $175.00 target price on the stock. KeyCorp dropped their target price on shares of Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. Truist Financial decreased their price target 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. JPMorgan Chase & Co. reissued an “overweight” rating and set a $175.00 price objective on shares of Tenet Healthcare in a report on Tuesday, December 17th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $177.00 price target on shares of Tenet Healthcare in a research report on Thursday, February 13th. Three research 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 company. According to MarketBeat, Tenet Healthcare currently has a consensus rating of “Moderate Buy” and a consensus target price of $166.41.

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.