B. Riley Wealth Advisors Inc. Sells 4,365 Shares of Tenet Healthcare Co. (NYSE:THC)

B. Riley Wealth Advisors Inc. trimmed its holdings in shares of Tenet Healthcare Co. (NYSE:THC - Free Report) by 55.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,529 shares of the company's stock after selling 4,365 shares during the period. B. Riley Wealth Advisors Inc.'s holdings in Tenet Healthcare were worth $445,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of THC. Geode Capital Management LLC grew its holdings in Tenet Healthcare by 3.5% during the fourth quarter. Geode Capital Management LLC now owns 2,116,121 shares of the company's stock worth $268,591,000 after buying an additional 71,454 shares in the last quarter. Norges Bank bought a new position in Tenet Healthcare during the fourth quarter valued at $190,819,000. Dimensional Fund Advisors LP increased its position 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 worth $188,524,000 after buying an additional 272,906 shares during the last quarter. AQR Capital Management LLC lifted its position in shares of Tenet Healthcare by 20.8% during the 4th quarter. AQR Capital Management LLC now owns 872,117 shares of the company's stock valued at $110,087,000 after buying an additional 150,361 shares during the last quarter. Finally, Northern Trust Corp grew its stake in shares of Tenet Healthcare by 22.0% during the 4th quarter. Northern Trust Corp now owns 848,049 shares of the company's stock worth $107,049,000 after acquiring an additional 152,671 shares during the period. 95.44% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Tenet Healthcare news, EVP Paola M. Arbour sold 6,461 shares of the company's stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 27,848 shares in the company, valued at $4,461,249.60. This represents a 18.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director James L. Bierman sold 4,613 shares of the firm's stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $170.00, for a total transaction of $784,210.00. Following the completion of the transaction, the director now directly owns 35,271 shares of the company's stock, valued at $5,996,070. This represents a 11.57% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 55,072 shares of company stock valued at $8,557,590 over the last 90 days. 0.81% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on THC shares. TD Cowen assumed coverage on Tenet Healthcare in a research report on Wednesday, February 26th. They set a "buy" rating and a $175.00 price target on the stock. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $177.00 target price on shares of Tenet Healthcare in a report on Thursday, February 13th. Royal Bank of Canada raised their price target on shares of Tenet Healthcare from $183.00 to $189.00 and gave the company an "outperform" rating in a report on Wednesday, April 30th. Wall Street Zen upgraded Tenet Healthcare from a "hold" rating to a "buy" rating in a research report on Friday. Finally, Truist Financial boosted their target price on Tenet Healthcare from $175.00 to $190.00 and gave the stock a "buy" rating in a research report on Monday, May 12th. Three research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, Tenet Healthcare currently has a consensus rating of "Moderate Buy" and a consensus target price of $180.18.

Tenet Healthcare Price Performance

Tenet Healthcare stock traded up $1.41 during midday trading on Monday, reaching $170.18. 1,989,401 shares of the company were exchanged, compared to its average volume of 1,532,575. The company has a market capitalization of $15.81 billion, a price-to-earnings ratio of 5.28, a P/E/G ratio of 1.02 and a beta of 1.63. The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.70 and a current ratio of 1.78. The firm's 50-day simple moving average is $140.71 and its 200-day simple moving average is $136.26. 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 analysts' consensus estimates of $3.11 by $1.25. Tenet Healthcare had a net margin of 15.48% and a return on equity of 21.88%. The firm had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $5.15 billion. During the same quarter in the prior year, the company earned $3.22 EPS. The company's revenue was down 2.5% on a year-over-year basis. On average, analysts anticipate that Tenet Healthcare Co. will post 12.24 EPS for the current 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.