BIP Wealth LLC Sells 1,775 Shares of Tenet Healthcare Co. (NYSE:THC)

BIP Wealth LLC cut its holdings in shares of Tenet Healthcare Co. (NYSE:THC - Free Report) by 50.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,774 shares of the company's stock after selling 1,775 shares during the period. BIP Wealth LLC's holdings in Tenet Healthcare were worth $224,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Geode Capital Management LLC raised its position in Tenet Healthcare by 3.5% during the 4th quarter. Geode Capital Management LLC now owns 2,116,121 shares of the company's stock worth $268,591,000 after purchasing an additional 71,454 shares during the last quarter. Norges Bank acquired a new position in shares of Tenet Healthcare in the fourth quarter worth approximately $190,819,000. Dimensional Fund Advisors LP boosted its holdings in Tenet Healthcare by 22.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,493,532 shares of the company's stock valued at $188,524,000 after acquiring an additional 272,906 shares during the last quarter. AQR Capital Management LLC raised its holdings in Tenet Healthcare by 20.8% during the 4th quarter. AQR Capital Management LLC now owns 872,117 shares of the company's stock worth $110,087,000 after purchasing an additional 150,361 shares during the last quarter. Finally, Northern Trust Corp lifted its position in shares of Tenet Healthcare by 22.0% in the 4th quarter. Northern Trust Corp now owns 848,049 shares of the company's stock worth $107,049,000 after purchasing an additional 152,671 shares during the period. 95.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

THC has been the topic of several recent analyst reports. Baird R W lowered shares of Tenet Healthcare from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 15th. Morgan Stanley assumed coverage on Tenet Healthcare in a research report on Wednesday, March 26th. They set an "overweight" rating and a $165.00 target price on the stock. StockNews.com upgraded Tenet Healthcare from a "hold" rating to a "buy" rating in a report on Thursday. Robert W. Baird reiterated a "neutral" rating and issued a $137.00 price objective (down previously from $153.00) on shares of Tenet Healthcare in a research note on Tuesday, April 15th. Finally, Truist Financial reduced their price target on shares of Tenet Healthcare from $190.00 to $175.00 and set a "buy" rating for the company in a report on Monday, January 6th. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, Tenet Healthcare presently has a consensus rating of "Moderate Buy" and a consensus target price of $172.19.

Tenet Healthcare Trading Up 2.0 %

NYSE THC opened at $148.21 on Monday. The company has a current ratio of 1.78, a quick ratio of 1.70 and a debt-to-equity ratio of 2.25. The firm has a market capitalization of $13.77 billion, a P/E ratio of 4.60, a PEG ratio of 1.02 and a beta of 1.63. The business has a fifty day simple moving average of $127.09 and a 200 day simple moving average of $136.10. Tenet Healthcare Co. has a 12 month low of $109.82 and a 12 month high of $171.20.

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

Insider Activity at Tenet Healthcare

In other news, Director J Robert Kerrey sold 9,525 shares of the firm'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 completion of the sale, the director now directly owns 27,378 shares of the company's stock, valued at $3,434,022.54. This trade represents a 25.81 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.81% of the stock is currently owned by company insiders.

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.

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