Cresset Asset Management LLC Sells 17,878 Shares of Tenet Healthcare Co. (NYSE:THC)

Cresset Asset Management LLC reduced its holdings in Tenet Healthcare Co. (NYSE:THC - Free Report) by 73.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,509 shares of the company's stock after selling 17,878 shares during the quarter. Cresset Asset Management LLC's holdings in Tenet Healthcare were worth $822,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in THC. GeoWealth Management LLC raised its stake in shares of Tenet Healthcare by 39.8% in the fourth quarter. GeoWealth Management LLC now owns 295 shares of the company's stock valued at $37,000 after acquiring an additional 84 shares during the last quarter. WR Wealth Planners LLC raised its stake in shares of Tenet Healthcare by 2,836.4% in the fourth quarter. WR Wealth Planners LLC now owns 323 shares of the company's stock valued at $41,000 after acquiring an additional 312 shares during the last quarter. Smartleaf Asset Management LLC raised its position in Tenet Healthcare by 30.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 471 shares of the company's stock worth $59,000 after purchasing an additional 110 shares during the last quarter. Kestra Investment Management LLC bought a new position in Tenet Healthcare in the 4th quarter worth approximately $60,000. Finally, Wilmington Savings Fund Society FSB raised its position in Tenet Healthcare by 1,352.8% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 523 shares of the company's stock worth $66,000 after purchasing an additional 487 shares during the last quarter. 95.44% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Tenet Healthcare

In other news, Director J Robert Kerrey sold 5,001 shares of the stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $148.50, for a total transaction of $742,648.50. Following the completion of the transaction, the director now directly owns 22,377 shares in the company, valued at $3,322,984.50. This represents a 18.27% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.81% of the company's stock.

Wall Street Analyst Weigh In

THC has been the subject of several research analyst reports. Baird R W cut shares of Tenet Healthcare from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 15th. Royal Bank of Canada upped their target price on shares of Tenet Healthcare from $183.00 to $189.00 and gave the company an "outperform" rating in a research report on Wednesday, April 30th. UBS Group upped their target price on shares of Tenet Healthcare from $217.00 to $230.00 and gave the company a "buy" rating in a research report on Wednesday, April 30th. Morgan Stanley upped their target price on shares of Tenet Healthcare from $165.00 to $175.00 and gave the company an "overweight" rating in a research report on Monday, May 5th. Finally, Robert W. Baird reiterated a "neutral" rating and set a $137.00 target price (down previously from $153.00) on shares of Tenet Healthcare in a research report on Tuesday, April 15th. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $174.63.

Tenet Healthcare Price Performance

Shares of NYSE THC opened at $154.60 on Tuesday. The firm has a market cap of $14.36 billion, a PE ratio of 4.80, a PEG ratio of 1.02 and a beta of 1.63. The company has a current ratio of 1.78, a quick ratio of 1.70 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. The company has a fifty day moving average price of $129.95 and a 200 day moving average price of $135.93.

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

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.

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