Tenet Healthcare Co. (NYSE:THC) Shares Sold by Assenagon Asset Management S.A.

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

Other hedge funds also recently added to or reduced their stakes in the company. Colonial Trust Co SC grew its holdings in Tenet Healthcare by 85.7% during the 4th quarter. Colonial Trust Co SC now owns 247 shares of the company's stock valued at $31,000 after purchasing an additional 114 shares during the last quarter. GeoWealth Management LLC grew its holdings in Tenet Healthcare by 39.8% during the 4th quarter. GeoWealth Management LLC now owns 295 shares of the company's stock valued at $37,000 after purchasing an additional 84 shares during the last quarter. WR Wealth Planners LLC grew its holdings in Tenet Healthcare by 2,836.4% during the 4th quarter. WR Wealth Planners LLC now owns 323 shares of the company's stock valued at $41,000 after purchasing an additional 312 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in Tenet Healthcare by 30.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 471 shares of the company's stock valued at $59,000 after purchasing an additional 110 shares during the last quarter. Finally, Kestra Investment Management LLC bought a new position in Tenet Healthcare in the 4th quarter worth about $60,000. 95.44% of the stock is currently owned by institutional investors.

Tenet Healthcare Stock Down 0.8%

NYSE:THC traded down $1.31 during midday trading on Friday, reaching $164.23. 1,842,076 shares of the stock traded hands, compared to its average volume of 1,551,727. Tenet Healthcare Co. has a 12-month low of $109.82 and a 12-month high of $174.14. The business has a 50-day moving average of $148.09 and a two-hundred day moving average of $137.65. The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.70 and a current ratio of 1.78. The stock has a market capitalization of $15.25 billion, a PE ratio of 5.10, a price-to-earnings-growth ratio of 1.02 and a beta of 1.65.

Tenet Healthcare (NYSE:THC - Get Free Report) last posted its earnings results on Tuesday, April 29th. The company reported $4.36 EPS for the quarter, beating analysts' consensus estimates of $3.11 by $1.25. The company had revenue of $5.22 billion during the quarter, compared to analysts' expectations of $5.15 billion. Tenet Healthcare had a net margin of 15.48% and a return on equity of 21.88%. Tenet Healthcare's revenue for the quarter was down 2.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.22 earnings per share. On average, equities analysts forecast that Tenet Healthcare Co. will post 12.24 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Tenet Healthcare news, Director Richard W. Fisher sold 836 shares of the firm's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $173.16, for a total value of $144,761.76. Following the completion of the transaction, the director now owns 11,292 shares of the company's stock, valued at approximately $1,955,322.72. This trade represents a 6.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Thomas W. Arnst sold 9,786 shares of the firm's 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 54,121 shares of company stock valued at $8,846,305. Insiders own 0.81% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on THC shares. Wells Fargo & Company upgraded shares of Tenet Healthcare from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $150.00 to $195.00 in a research note on Thursday, May 29th. Morgan Stanley upped their target price 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. UBS Group upped their target price 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. Truist Financial upped their target price on shares of Tenet Healthcare from $175.00 to $190.00 and gave the stock a "buy" rating in a research note on Monday, May 12th. Finally, The Goldman Sachs Group upped their price target on shares of Tenet Healthcare from $134.00 to $154.00 and gave the stock a "neutral" rating in a research report on Monday, May 5th. Four research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $182.24.

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.