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

B. Riley Wealth Advisors Inc. reduced its stake in shares of Tenet Healthcare Co. (NYSE:THC - Free Report) by 55.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm 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 SEC filing.

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

Tenet Healthcare Trading Down 1.1%

NYSE THC traded down $1.94 on Wednesday, hitting $169.90. 1,342,772 shares of the stock were exchanged, compared to its average volume of 1,527,614. The company's 50-day moving average price is $142.93 and its two-hundred day moving average price is $136.84. The company has a market capitalization of $15.78 billion, a price-to-earnings ratio of 5.27, a P/E/G ratio of 1.02 and a beta of 1.65. Tenet Healthcare Co. has a 52-week low of $109.82 and a 52-week high of $174.14. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.78 and a quick ratio of 1.70.

Tenet Healthcare (NYSE:THC - Get Free Report) last announced its quarterly earnings data 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. The firm had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $5.15 billion. Tenet Healthcare had a return on equity of 21.88% and a net margin of 15.48%. The business's revenue for the quarter was down 2.5% on a year-over-year basis. 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 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently issued reports on THC. Cantor Fitzgerald reissued an "overweight" rating and issued a $177.00 price objective on shares of Tenet Healthcare in a research report on Thursday, February 13th. Baird R W downgraded Tenet Healthcare from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 15th. Truist Financial upped their price target on shares of Tenet Healthcare from $175.00 to $190.00 and gave the stock a "buy" rating in a research report on Monday, May 12th. Morgan Stanley boosted their target price on shares of Tenet Healthcare from $165.00 to $175.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. Finally, Robert W. Baird reiterated a "neutral" rating and set a $137.00 price objective (down from $153.00) on shares of Tenet Healthcare in a research report on Tuesday, April 15th. Three equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. According to data from MarketBeat, Tenet Healthcare has a consensus rating of "Moderate Buy" and an average price target of $180.18.

Insider Buying and Selling at Tenet Healthcare

In other news, EVP Paola M. Arbour sold 6,461 shares of the company's stock in a transaction on Thursday, May 15th. The shares were 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 directly owns 27,848 shares of the company's stock, valued at approximately $4,461,249.60. This represents a 18.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director J Robert Kerrey sold 5,001 shares of the business's stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $148.50, for a total value of $742,648.50. Following the completion of the transaction, the director now owns 22,377 shares in the company, valued at $3,322,984.50. This trade represents a 18.27% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 55,072 shares of company stock worth $8,557,590. 0.81% of the stock is currently owned by company 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.