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

New Age Alpha Advisors LLC bought a new position in shares of Tenet Healthcare Co. (NYSE:THC) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 54,692 shares of the company’s stock, valued at approximately $6,904,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Pathstone Holdings LLC lifted its position in Tenet Healthcare by 2.7% during the third quarter. Pathstone Holdings LLC now owns 8,973 shares of the company’s stock valued at $1,491,000 after purchasing an additional 233 shares during the last quarter. Great Valley Advisor Group Inc. bought a new position in Tenet Healthcare in the third quarter valued at $231,000. Cerity Partners LLC lifted its stake in Tenet Healthcare by 67.2% during the third quarter. Cerity Partners LLC now owns 31,056 shares of the company’s stock worth $5,162,000 after purchasing an additional 12,480 shares during the last quarter. Swedbank AB bought a new position in shares of Tenet Healthcare during the 3rd quarter valued at about $3,324,000. Finally, Centaurus Financial Inc. raised its holdings in shares of Tenet Healthcare by 65.4% during the 3rd quarter. Centaurus Financial Inc. now owns 1,671 shares of the company’s stock valued at $278,000 after buying an additional 661 shares in the last quarter. Hedge funds and other institutional investors own 95.44% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on THC shares. The Goldman Sachs Group downgraded shares of Tenet Healthcare from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $196.00 to $140.00 in a research note on Monday, December 16th. Morgan Stanley began coverage on shares of Tenet Healthcare in a research note on Wednesday. They issued an “overweight” rating and a $165.00 price target for the company. StockNews.com raised Tenet Healthcare from a “hold” rating to a “buy” rating in a research note on Thursday, March 13th. Cantor Fitzgerald restated an “overweight” rating and set a $177.00 target price on shares of Tenet Healthcare in a report on Thursday, February 13th. Finally, TD Cowen assumed coverage on Tenet Healthcare in a research report on Wednesday, February 26th. They issued a “buy” rating and a $175.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $166.41.

Insider Activity at Tenet Healthcare

In other news, Director J Robert Kerrey sold 9,525 shares of Tenet Healthcare stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $125.43, for a total transaction 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. This trade represents a 25.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.93% of the stock is currently owned by corporate insiders.

Tenet Healthcare Stock Performance

Shares of THC opened at $134.41 on Friday. Tenet Healthcare Co. has a one year low of $90.03 and a one year high of $171.20. The company has a 50-day simple moving average of $132.38 and a two-hundred day simple moving average of $142.64. 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 market capitalization of $12.79 billion, a PE ratio of 4.17, a price-to-earnings-growth ratio of 1.02 and a beta of 2.06.

Tenet Healthcare (NYSE:THC) last released its quarterly earnings results 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, analysts anticipate that Tenet Healthcare Co. will post 12.24 EPS for the current fiscal 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.