Point72 Hong Kong Ltd Has $38,000 Stake in Tenet Healthcare Co. (NYSE:THC)

Point72 Hong Kong Ltd lowered its holdings in shares of Tenet Healthcare Co. (NYSE:THC - Free Report) by 97.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 298 shares of the company's stock after selling 11,465 shares during the period. Point72 Hong Kong Ltd's holdings in Tenet Healthcare were worth $38,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Geode Capital Management LLC increased its stake in Tenet Healthcare by 3.5% in the fourth 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 acquired a new position in shares of Tenet Healthcare in the 4th quarter valued at $190,819,000. Dimensional Fund Advisors LP boosted its holdings 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 valued at $188,524,000 after acquiring an additional 272,906 shares during the last quarter. 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 boosted its position in 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 purchasing an additional 152,671 shares during the period. Hedge funds and other institutional investors own 95.44% of the company's stock.

Insider Activity at Tenet Healthcare

In other news, Director J Robert Kerrey sold 9,525 shares of Tenet Healthcare stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $125.43, for a total transaction of $1,194,720.75. Following the transaction, the director now owns 27,378 shares in the company, valued at approximately $3,434,022.54. The trade was a 25.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Paola M. Arbour sold 6,461 shares of the stock in a transaction dated 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 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 disclosure for this sale can be found here. Insiders sold a total of 20,987 shares of company stock valued at $2,972,421 over the last ninety days. Insiders own 0.81% of the company's stock.

Tenet Healthcare Price Performance

THC stock traded down $5.91 during trading on Wednesday, hitting $162.75. The company had a trading volume of 1,021,250 shares, compared to its average volume of 1,541,886. Tenet Healthcare Co. has a fifty-two week low of $109.82 and a fifty-two week high of $171.20. The firm has a market capitalization of $15.12 billion, a price-to-earnings ratio of 5.05, a P/E/G ratio of 1.02 and a beta of 1.63. The business has a 50 day moving average of $134.69 and a 200 day moving average of $136.46. 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 (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, beating the consensus estimate of $3.11 by $1.25. Tenet Healthcare had a return on equity of 21.88% and a net margin of 15.48%. The business had revenue of $5.22 billion during the quarter, compared to analysts' expectations of $5.15 billion. During the same quarter last year, the business posted $3.22 earnings per share. The company's quarterly revenue was down 2.5% on a year-over-year basis. As a group, research analysts predict that Tenet Healthcare Co. will post 12.24 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on THC shares. UBS Group lifted their price objective on shares of Tenet Healthcare from $217.00 to $230.00 and gave the company a "buy" rating in a research note on Wednesday, April 30th. Guggenheim started coverage on Tenet Healthcare in a research report on Wednesday, April 9th. They issued a "buy" rating and a $165.00 target price on the stock. Barclays raised their price target on shares of Tenet Healthcare from $161.00 to $171.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 30th. Morgan Stanley increased their price objective 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, The Goldman Sachs Group raised their price objective on shares of Tenet Healthcare from $134.00 to $154.00 and gave the stock a "neutral" rating in a report on Monday, May 5th. Four investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. According to MarketBeat, Tenet Healthcare currently has an average rating of "Moderate Buy" and a consensus price target of $174.94.

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.