Tenet Healthcare Corporation (NYSE:THC) Shares Sold by New Age Alpha Advisors LLC

Key Points

• New Age Alpha Advisors LLC has reduced its position in Tenet Healthcare Corporation (NYSE:THC) by 15.5%, now holding 46,216 shares valued at approximately $6.2 million.
• Tenet Healthcare reported a strong quarterly performance, with earnings per share of $4.02, surpassing estimates by $1.18 and a revenue increase of 3.2% year-over-year to $5.27 billion.
• Analysts have varied opinions on Tenet Healthcare, with ratings ranging from "hold" to "strong buy," and a consensus target price of $191.56 suggesting potential for further growth.

New Age Alpha Advisors LLC reduced its position in Tenet Healthcare Corporation (NYSE:THC - Free Report) by 15.5% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 46,216 shares of the company's stock after selling 8,476 shares during the quarter. New Age Alpha Advisors LLC's holdings in Tenet Healthcare were worth $6,216,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in shares of Tenet Healthcare during the 1st quarter worth $26,000. Wayfinding Financial LLC purchased a new stake in shares of Tenet Healthcare during the 1st quarter worth $28,000. Colonial Trust Co SC boosted its position in shares of Tenet Healthcare by 85.7% during the 4th quarter. Colonial Trust Co SC now owns 247 shares of the company's stock worth $31,000 after purchasing an additional 114 shares in the last quarter. N.E.W. Advisory Services LLC purchased a new stake in shares of Tenet Healthcare in the 1st quarter worth about $31,000. Finally, GeoWealth Management LLC boosted its position in shares of Tenet Healthcare by 39.8% in the 4th quarter. GeoWealth Management LLC now owns 295 shares of the company's stock worth $37,000 after buying an additional 84 shares in the last quarter. 95.44% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Tenet Healthcare

In related news, Director Richard W. Fisher sold 3,077 shares of the firm's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $165.72, for a total transaction of $509,920.44. Following the transaction, the director directly owned 12,128 shares in the company, valued at $2,009,852.16. This trade represents a 20.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director J Robert Kerrey sold 1,222 shares of the firm's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $164.96, for a total value of $201,581.12. Following the transaction, the director owned 22,377 shares in the company, valued at $3,691,309.92. This trade represents a 5.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 49,120 shares of company stock worth $8,103,656. 0.81% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on THC shares. JPMorgan Chase & Co. boosted their price objective on shares of Tenet Healthcare from $190.00 to $200.00 and gave the stock an "overweight" rating in a research report on Monday, August 4th. Robert W. Baird decreased their price objective on shares of Tenet Healthcare from $195.00 to $167.00 and set a "neutral" rating on the stock in a research report on Friday, July 25th. Barclays reduced their target price on shares of Tenet Healthcare from $215.00 to $208.00 and set an "overweight" rating on the stock in a report on Thursday, July 24th. Raymond James Financial restated an "outperform" rating and issued a $200.00 target price (up from $185.00) on shares of Tenet Healthcare in a report on Wednesday, July 23rd. Finally, Wells Fargo & Company upgraded shares of Tenet Healthcare from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $150.00 to $195.00 in a report on Thursday, May 29th. Four investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $191.56.

Tenet Healthcare Stock Up 1.4%

Shares of NYSE THC traded up $2.28 during trading on Friday, reaching $165.70. 734,141 shares of the stock were exchanged, compared to its average volume of 1,716,906. The business's 50-day moving average price is $167.22 and its 200 day moving average price is $147.25. Tenet Healthcare Corporation has a twelve month low of $109.82 and a twelve month high of $185.25. The company has a quick ratio of 1.63, a current ratio of 1.71 and a debt-to-equity ratio of 2.39. The company has a market capitalization of $14.64 billion, a price-to-earnings ratio of 10.61, a price-to-earnings-growth ratio of 0.70 and a beta of 1.52.

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

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.