Citigroup Inc. Sells 192,737 Shares of Tenet Healthcare Corporation (NYSE:THC)

Citigroup Inc. reduced its position in Tenet Healthcare Corporation (NYSE:THC - Free Report) by 53.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 169,620 shares of the company's stock after selling 192,737 shares during the quarter. Citigroup Inc. owned about 0.18% of Tenet Healthcare worth $22,814,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in Tenet Healthcare in the first quarter valued at approximately $26,000. Wayfinding Financial LLC purchased a new stake in Tenet Healthcare in the first quarter valued at approximately $28,000. Colonial Trust Co SC raised its stake in Tenet Healthcare by 85.7% in the fourth quarter. Colonial Trust Co SC now owns 247 shares of the company's stock valued at $31,000 after purchasing an additional 114 shares in the last quarter. N.E.W. Advisory Services LLC purchased a new stake in Tenet Healthcare in the first quarter valued at approximately $31,000. Finally, GeoWealth Management LLC raised its stake in 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 purchasing an additional 84 shares in the last quarter. 95.44% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Tenet Healthcare

In other Tenet Healthcare news, Director J Robert Kerrey sold 1,222 shares of the firm's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $164.96, for a total transaction of $201,581.12. Following the completion of the sale, the director directly owned 22,377 shares in the company, valued at approximately $3,691,309.92. This trade represents a 5.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard W. Fisher sold 836 shares of the firm's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $173.16, for a total transaction of $144,761.76. Following the sale, the director owned 11,292 shares of the company's stock, valued at approximately $1,955,322.72. This represents a 6.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 49,120 shares of company stock worth $8,103,656 in the last 90 days. Insiders own 0.81% of the company's stock.

Tenet Healthcare Stock Performance

Shares of THC stock opened at $170.43 on Wednesday. Tenet Healthcare Corporation has a 12 month low of $109.82 and a 12 month high of $185.25. The stock has a market cap of $15.06 billion, a PE ratio of 10.91, a price-to-earnings-growth ratio of 0.71 and a beta of 1.52. The company has a current ratio of 1.71, a quick ratio of 1.63 and a debt-to-equity ratio of 2.39. The company's fifty day moving average price is $167.11 and its 200-day moving average price is $147.78.

Tenet Healthcare (NYSE:THC - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The company reported $4.02 EPS for the quarter, beating analysts' consensus estimates of $2.84 by $1.18. Tenet Healthcare had a net margin of 7.17% and a return on equity of 24.69%. The firm had revenue of $5.27 billion for the quarter, compared to analysts' expectations of $5.16 billion. During the same quarter in the previous year, the business posted $2.31 EPS. The company's quarterly revenue was up 3.2% on a year-over-year basis. On average, equities analysts expect that Tenet Healthcare Corporation will post 12.24 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on THC. Baird R W downgraded shares of Tenet Healthcare from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 15th. Robert W. Baird decreased their price target on shares of Tenet Healthcare from $195.00 to $167.00 and set a "neutral" rating on the stock in a research note on Friday, July 25th. UBS Group lifted their price target on shares of Tenet Healthcare from $230.00 to $238.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Raymond James Financial reissued an "outperform" rating and set a $200.00 price target (up from $185.00) on shares of Tenet Healthcare in a research note on Wednesday, July 23rd. Finally, Morgan Stanley lifted their price target on shares of Tenet Healthcare from $175.00 to $210.00 and gave the stock an "overweight" rating in a research note on Monday, June 9th. Four analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $191.56.

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.

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