Perbak Capital Partners LLP Grows Stake in Tenet Healthcare Co. (NYSE:THC)

Perbak Capital Partners LLP lifted its position in Tenet Healthcare Co. (NYSE:THC) by 12.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,028 shares of the company’s stock after buying an additional 766 shares during the period. Perbak Capital Partners LLP’s holdings in Tenet Healthcare were worth $887,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. New Wave Wealth Advisors LLC bought a new stake in Tenet Healthcare during the fourth quarter valued at about $343,000. Swedbank AB raised its holdings in Tenet Healthcare by 100.0% during the fourth quarter. Swedbank AB now owns 40,000 shares of the company’s stock valued at $5,049,000 after acquiring an additional 20,000 shares during the period. Signet Financial Management LLC bought a new stake in Tenet Healthcare during the fourth quarter valued at about $1,526,000. China Universal Asset Management Co. Ltd. bought a new stake in Tenet Healthcare during the fourth quarter valued at about $410,000. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in Tenet Healthcare during the fourth quarter valued at about $5,892,000. 95.44% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Guggenheim began coverage on Tenet Healthcare in a report on Wednesday, April 9th. They set a “buy” rating and a $165.00 price target on the stock. KeyCorp reduced their price objective 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. Robert W. Baird reiterated a “neutral” rating and set a $137.00 target price (down from $153.00) on shares of Tenet Healthcare in a research report on Tuesday, April 15th. StockNews.com upgraded Tenet Healthcare from a “hold” rating to a “buy” rating in a research report on Thursday, March 13th. Finally, Baird R W downgraded Tenet Healthcare from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 15th. Five research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, Tenet Healthcare currently has a consensus rating of “Moderate Buy” and an average target price of $165.44.

Tenet Healthcare Stock Performance

THC stock opened at $123.82 on Tuesday. 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’s fifty day simple moving average is $126.27 and its two-hundred day simple moving average is $136.57. Tenet Healthcare Co. has a twelve month low of $96.14 and a twelve month high of $171.20. The firm has a market cap of $11.69 billion, a price-to-earnings ratio of 3.84, a PEG ratio of 1.02 and a beta of 1.77.

Tenet Healthcare (NYSE:THC) last released its earnings results on Tuesday, April 29th. The company reported $4.36 earnings per share for the quarter, topping analysts’ consensus estimates of $3.10 by $1.26. Tenet Healthcare had a return on equity of 21.88% and a net margin of 15.48%. Analysts predict that Tenet Healthcare Co. will post 12.24 earnings per share for the current year.

Insider Activity at Tenet Healthcare

In related news, Director J Robert Kerrey sold 9,525 shares of Tenet Healthcare stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $125.43, for a total value of $1,194,720.75. Following the completion of the sale, the director now directly owns 27,378 shares in the company, valued at $3,434,022.54. The trade was a 25.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.81% of the stock is currently owned by corporate insiders.

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.