Tenet Healthcare Co. (NYSE:THC) Shares Sold by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. reduced its stake in shares of Tenet Healthcare Co. (NYSE:THC - Free Report) by 96.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,501 shares of the company's stock after selling 103,552 shares during the quarter. Balyasny Asset Management L.P.'s holdings in Tenet Healthcare were worth $442,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. GeoWealth Management LLC grew its holdings in Tenet Healthcare by 39.8% during the 4th quarter. GeoWealth Management LLC now owns 295 shares of the company's stock worth $37,000 after acquiring an additional 84 shares in the last quarter. WR Wealth Planners LLC lifted its position in shares of 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 during the period. Smartleaf Asset Management LLC increased its holdings in Tenet Healthcare by 30.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 471 shares of the company's stock valued at $59,000 after buying an additional 110 shares during the period. Kestra Investment Management LLC bought a new position in Tenet Healthcare in the fourth quarter worth approximately $60,000. Finally, Wilmington Savings Fund Society FSB boosted its position in Tenet Healthcare by 1,352.8% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 523 shares of the company's stock valued at $66,000 after acquiring an additional 487 shares in the last quarter. Hedge funds and other institutional investors own 95.44% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Baird R W cut Tenet Healthcare from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 15th. Bank of America increased their price target on shares of Tenet Healthcare from $165.00 to $180.00 and gave the company a "buy" rating in a research report on Wednesday, May 14th. Guggenheim started coverage on Tenet Healthcare in a report on Wednesday, April 9th. They issued a "buy" rating and a $165.00 price objective on the stock. Royal Bank of Canada lifted their target price on Tenet Healthcare from $183.00 to $189.00 and gave the stock an "outperform" rating in a report on Wednesday, April 30th. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $177.00 price target on shares of Tenet Healthcare in a research report on Thursday, February 13th. Four analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $174.94.

Insiders Place Their Bets

In related news, Director J Robert Kerrey sold 9,525 shares of the 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 owns 27,378 shares of the company's stock, valued at approximately $3,434,022.54. This trade represents a 25.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Paola M. Arbour sold 6,461 shares of the company's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $160.20, for a total value of $1,035,052.20. Following the transaction, the executive vice president now owns 27,848 shares in the company, valued at $4,461,249.60. This trade represents a 18.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,987 shares of company stock valued at $2,972,421 over the last 90 days. 0.81% of the stock is owned by company insiders.

Tenet Healthcare Trading Up 0.9%

NYSE:THC traded up $1.49 on Tuesday, hitting $168.77. The stock had a trading volume of 993,906 shares, compared to its average volume of 1,547,352. The company has a fifty day moving average price of $133.70 and a two-hundred day moving average price of $136.23. The stock has a market cap of $15.68 billion, a price-to-earnings ratio of 5.24, a PEG ratio of 1.02 and a beta of 1.63. The company has a quick ratio of 1.70, a current ratio of 1.78 and a debt-to-equity ratio of 2.25. Tenet Healthcare Co. has a 1-year low of $109.82 and a 1-year high of $171.20.

Tenet Healthcare (NYSE:THC - Get Free Report) last posted its earnings results on Tuesday, April 29th. The company reported $4.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.11 by $1.25. Tenet Healthcare had a return on equity of 21.88% and a net margin of 15.48%. The company had revenue of $5.22 billion during the quarter, compared to analysts' expectations of $5.15 billion. During the same quarter last year, the firm earned $3.22 earnings per share. The firm's quarterly revenue was down 2.5% compared to the same quarter last year. Equities research analysts expect that Tenet Healthcare Co. will post 12.24 earnings per share 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.