Tidal Investments LLC Sells 4,581 Shares of Tenet Healthcare Co. (NYSE:THC)

Tidal Investments LLC decreased its position in Tenet Healthcare Co. (NYSE:THC - Free Report) by 22.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,257 shares of the company's stock after selling 4,581 shares during the quarter. Tidal Investments LLC's holdings in Tenet Healthcare were worth $2,052,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. EverSource Wealth Advisors LLC increased its holdings in shares of Tenet Healthcare by 9.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 940 shares of the company's stock worth $119,000 after buying an additional 80 shares during the last quarter. GeoWealth Management LLC raised its position in Tenet Healthcare by 39.8% during the fourth 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 period. Spire Wealth Management boosted its holdings in shares of Tenet Healthcare by 19.5% in the 4th quarter. Spire Wealth Management now owns 558 shares of the company's stock worth $70,000 after purchasing an additional 91 shares during the period. CIBC Private Wealth Group LLC raised its holdings in Tenet Healthcare by 1.7% during the 4th quarter. CIBC Private Wealth Group LLC now owns 5,619 shares of the company's stock valued at $732,000 after buying an additional 92 shares during the period. Finally, Prudential PLC boosted its stake in Tenet Healthcare by 0.7% during the fourth quarter. Prudential PLC now owns 15,344 shares of the company's stock worth $1,937,000 after buying an additional 107 shares during the period. 95.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. The Goldman Sachs Group lifted their price target on shares of Tenet Healthcare from $134.00 to $154.00 and gave the stock a "neutral" rating in a research note on Monday, May 5th. Royal Bank of Canada increased their price target on Tenet Healthcare from $183.00 to $189.00 and gave the stock an "outperform" rating in a report on Wednesday, April 30th. Morgan Stanley boosted their price objective on Tenet Healthcare from $165.00 to $175.00 and gave the company an "overweight" rating in a report on Monday, May 5th. TD Cowen started coverage on Tenet Healthcare in a research note on Wednesday, February 26th. They issued a "buy" rating and a $175.00 target price on the stock. Finally, Guggenheim initiated coverage on shares of Tenet Healthcare in a research note on Wednesday, April 9th. They set a "buy" rating and a $165.00 target price for the company. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $174.94.

Tenet Healthcare Stock Performance

Shares of Tenet Healthcare stock opened at $161.10 on Friday. The firm has a market capitalization of $14.96 billion, a P/E ratio of 5.00, a PEG ratio of 1.02 and a beta of 1.63. Tenet Healthcare Co. has a 52 week low of $109.82 and a 52 week high of $171.20. 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 company has a 50 day moving average price of $136.15 and a 200 day moving average price of $136.63.

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

Insider Activity

In other news, EVP Paola M. Arbour sold 6,461 shares of the stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $160.20, for a total value of $1,035,052.20. Following the sale, the executive vice president now owns 27,848 shares in the company, valued at $4,461,249.60. This represents a 18.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director J Robert Kerrey sold 5,001 shares of the business's stock in a transaction on Friday, May 9th. The shares were sold at an average price of $148.50, for a total transaction of $742,648.50. Following the transaction, the director now owns 22,377 shares of the company's stock, valued at $3,322,984.50. This represents a 18.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,987 shares of company stock valued at $2,972,421. Company insiders own 0.81% of the company's stock.

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.

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