Point72 Asia Singapore Pte. Ltd. Sells 9,625 Shares of Tenet Healthcare Co. (NYSE:THC)

Point72 Asia Singapore Pte. Ltd. trimmed its holdings in Tenet Healthcare Co. (NYSE:THC - Free Report) by 90.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,004 shares of the company's stock after selling 9,625 shares during the period. Point72 Asia Singapore Pte. Ltd.'s holdings in Tenet Healthcare were worth $127,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Redwood Investment Management LLC raised its position in shares of Tenet Healthcare by 4.5% in the fourth quarter. Redwood Investment Management LLC now owns 11,375 shares of the company's stock worth $1,436,000 after buying an additional 489 shares in the last quarter. ProShare Advisors LLC boosted its position in shares of Tenet Healthcare by 6.5% during the 4th quarter. ProShare Advisors LLC now owns 4,449 shares of the company's stock valued at $562,000 after acquiring an additional 272 shares during the last quarter. Parkman Healthcare Partners LLC grew its holdings in shares of Tenet Healthcare by 14.1% during the fourth quarter. Parkman Healthcare Partners LLC now owns 106,987 shares of the company's stock worth $13,505,000 after purchasing an additional 13,234 shares in the last quarter. Man Group plc raised its stake in Tenet Healthcare by 21.4% in the fourth quarter. Man Group plc now owns 86,005 shares of the company's stock valued at $10,856,000 after purchasing an additional 15,164 shares in the last quarter. Finally, Occudo Quantitative Strategies LP lifted its position in Tenet Healthcare by 174.8% during the fourth quarter. Occudo Quantitative Strategies LP now owns 5,933 shares of the company's stock valued at $749,000 after purchasing an additional 3,774 shares during the last quarter. Institutional investors own 95.44% of the company's stock.

Insider Buying and Selling at Tenet Healthcare

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 transaction of $1,035,052.20. Following the transaction, the executive vice president now owns 27,848 shares in the company, valued at approximately $4,461,249.60. This represents a 18.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director J Robert Kerrey sold 5,001 shares of the firm's stock in a transaction on Friday, May 9th. The shares were sold at an average price of $148.50, for a total value of $742,648.50. Following the transaction, the director now directly owns 22,377 shares of the company's stock, valued at $3,322,984.50. This represents a 18.27% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 20,987 shares of company stock valued at $2,972,421. 0.81% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on THC. Royal Bank of Canada raised their price objective on shares of Tenet Healthcare from $183.00 to $189.00 and gave the company an "outperform" rating in a research report on Wednesday, April 30th. TD Cowen initiated 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. Robert W. Baird reiterated a "neutral" rating and issued a $137.00 price objective (down from $153.00) on shares of Tenet Healthcare in a report on Tuesday, April 15th. Barclays raised their price objective on Tenet Healthcare from $161.00 to $171.00 and gave the company an "overweight" rating in a report on Wednesday, April 30th. Finally, UBS Group increased their price target on shares of Tenet Healthcare from $217.00 to $230.00 and gave the company a "buy" rating in a research report on Wednesday, April 30th. Four analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $174.94.

Tenet Healthcare Trading Down 3.5%

Shares of NYSE:THC traded down $5.91 during midday trading on Wednesday, hitting $162.75. 1,021,250 shares of the stock traded hands, compared to its average volume of 1,541,886. The company has a quick ratio of 1.70, a current ratio of 1.78 and a debt-to-equity ratio of 2.25. The stock has a market capitalization of $15.12 billion, a PE ratio of 5.05, a P/E/G ratio of 1.02 and a beta of 1.63. Tenet Healthcare Co. has a one year low of $109.82 and a one year high of $171.20. The business's 50 day moving average is $134.69 and its two-hundred day moving average is $136.46.

Tenet Healthcare (NYSE:THC - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $4.36 earnings per share for the quarter, topping analysts' consensus estimates of $3.11 by $1.25. The firm had revenue of $5.22 billion for the quarter, compared to analyst estimates of $5.15 billion. Tenet Healthcare had a return on equity of 21.88% and a net margin of 15.48%. The business's quarterly revenue was down 2.5% compared to the same quarter last year. During the same period last year, the company earned $3.22 EPS. As a group, research analysts forecast that Tenet Healthcare Co. will post 12.24 earnings per share for the current year.

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.