Assenagon Asset Management S.A. Sells 157,043 Shares of Tenet Healthcare Corporation (NYSE:THC)

Assenagon Asset Management S.A. lowered its holdings in shares of Tenet Healthcare Corporation (NYSE:THC - Free Report) by 61.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 96,888 shares of the company's stock after selling 157,043 shares during the period. Assenagon Asset Management S.A. owned approximately 0.10% of Tenet Healthcare worth $13,031,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in Tenet Healthcare in the 4th quarter valued at about $5,892,000. Asset Management One Co. Ltd. lifted its stake in shares of Tenet Healthcare by 541.3% in the 4th quarter. Asset Management One Co. Ltd. now owns 9,478 shares of the company's stock valued at $1,213,000 after purchasing an additional 8,000 shares during the last quarter. Truist Financial Corp boosted its stake in shares of Tenet Healthcare by 1.6% during the 4th quarter. Truist Financial Corp now owns 12,407 shares of the company's stock worth $1,566,000 after acquiring an additional 198 shares in the last quarter. Alberta Investment Management Corp lifted its stake in shares of Tenet Healthcare by 212.5% in the fourth quarter. Alberta Investment Management Corp now owns 25,000 shares of the company's stock worth $3,156,000 after buying an additional 17,000 shares during the last quarter. Finally, LPL Financial LLC boosted its holdings in Tenet Healthcare by 40.6% during the fourth quarter. LPL Financial LLC now owns 67,136 shares of the company's stock valued at $8,475,000 after acquiring an additional 19,389 shares during the period. Institutional investors own 95.44% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on THC. UBS Group raised their price objective on shares of Tenet Healthcare from $217.00 to $230.00 and gave the stock a "buy" rating in a research note on Wednesday, April 30th. TD Cowen started coverage on Tenet Healthcare in a research note on Wednesday, February 26th. They issued a "buy" rating and a $175.00 price objective on the stock. Stephens upgraded shares of Tenet Healthcare to a "strong-buy" rating in a research report on Monday, June 2nd. Bank of America lifted their price objective on Tenet Healthcare from $165.00 to $180.00 and gave the company a "buy" rating in a research report on Wednesday, May 14th. Finally, Barclays upped their target price on shares of Tenet Healthcare from $171.00 to $215.00 and gave the stock an "overweight" rating in a research report on Monday, June 2nd. Three equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Tenet Healthcare presently has a consensus rating of "Moderate Buy" and an average price target of $182.24.

Tenet Healthcare Trading Up 1.8%

Tenet Healthcare stock traded up $2.89 during mid-day trading on Tuesday, hitting $167.13. 1,781,707 shares of the company's stock were exchanged, compared to its average volume of 1,479,304. The company has a quick ratio of 1.70, a current ratio of 1.78 and a debt-to-equity ratio of 2.23. The firm has a market capitalization of $15.52 billion, a P/E ratio of 11.05, a PEG ratio of 1.20 and a beta of 1.65. The company's 50 day simple moving average is $149.70 and its 200-day simple moving average is $137.94. Tenet Healthcare Corporation has a fifty-two week low of $109.82 and a fifty-two week high of $174.14.

Tenet Healthcare (NYSE:THC - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $4.36 earnings per share for the quarter, topping the consensus estimate of $3.11 by $1.25. Tenet Healthcare had a return on equity of 22.58% and a net margin of 7.09%. The company had revenue of $5.22 billion during the quarter, compared to analysts' expectations of $5.15 billion. During the same period in the prior year, the firm earned $3.22 earnings per share. Tenet Healthcare's revenue for the quarter was down 2.5% compared to the same quarter last year. On average, equities analysts anticipate that Tenet Healthcare Corporation will post 12.24 earnings per share for the current year.

Insider Transactions at Tenet Healthcare

In other news, EVP Thomas W. Arnst sold 9,786 shares of Tenet Healthcare stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $166.00, for a total transaction of $1,624,476.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard W. Fisher sold 836 shares of the business'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 completion of the sale, the director now directly owns 11,292 shares of the company's stock, valued at $1,955,322.72. This represents a 6.89% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 54,121 shares of company stock worth $8,846,305 in the last 90 days. Corporate insiders own 0.81% of the company's stock.

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.