Tenet Healthcare Corporation (NYSE:THC) Stake Decreased by Winslow Asset Management Inc.

Winslow Asset Management Inc. trimmed its position in shares of Tenet Healthcare Corporation (NYSE:THC - Free Report) by 2.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 127,787 shares of the company's stock after selling 2,943 shares during the quarter. Tenet Healthcare accounts for approximately 3.8% of Winslow Asset Management Inc.'s investment portfolio, making the stock its 5th biggest position. Winslow Asset Management Inc. owned 0.14% of Tenet Healthcare worth $17,187,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in Tenet Healthcare during the 1st quarter valued at about $26,000. Wayfinding Financial LLC purchased a new position in shares of Tenet Healthcare in the 1st quarter valued at about $28,000. Colonial Trust Co SC boosted its stake in shares of Tenet Healthcare by 85.7% in the 4th quarter. Colonial Trust Co SC now owns 247 shares of the company's stock valued at $31,000 after buying an additional 114 shares during the period. GeoWealth Management LLC boosted its stake in shares of Tenet Healthcare by 39.8% in the 4th quarter. GeoWealth Management LLC now owns 295 shares of the company's stock valued at $37,000 after buying an additional 84 shares during the period. Finally, Versant Capital Management Inc boosted its stake in shares of Tenet Healthcare by 46.2% in the 1st quarter. Versant Capital Management Inc now owns 718 shares of the company's stock valued at $97,000 after buying an additional 227 shares during the period. 95.44% of the stock is currently owned by hedge funds and other institutional investors.

Tenet Healthcare Stock Performance

Shares of THC stock traded up $0.70 during trading hours on Wednesday, hitting $173.48. The stock had a trading volume of 1,387,266 shares, compared to its average volume of 1,252,239. The firm has a market capitalization of $16.11 billion, a PE ratio of 11.47, a PEG ratio of 1.26 and a beta of 1.64. The company has a debt-to-equity ratio of 2.23, a current ratio of 1.78 and a quick ratio of 1.70. The stock's 50 day moving average is $167.37 and its 200 day moving average is $143.40. Tenet Healthcare Corporation has a twelve month low of $109.82 and a twelve month high of $179.91.

Tenet Healthcare (NYSE:THC - Get Free Report) last released its earnings results on Tuesday, April 29th. The company reported $4.36 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.11 by $1.25. The business 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 22.58% and a net margin of 7.09%. The company's revenue for the quarter was down 2.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.22 earnings per share. As a group, research analysts forecast that Tenet Healthcare Corporation will post 12.24 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director J Robert Kerrey sold 5,001 shares of Tenet Healthcare stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $148.50, for a total value of $742,648.50. Following the sale, the director directly owned 22,377 shares in the company, valued at $3,322,984.50. The trade was a 18.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Richard W. Fisher sold 3,077 shares of Tenet Healthcare stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $165.72, for a total value of $509,920.44. Following the completion of the sale, the director owned 12,128 shares in the company, valued at approximately $2,009,852.16. This trade represents a 20.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 54,121 shares of company stock valued at $8,846,305. 0.81% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on THC. Barclays lifted their price objective on Tenet Healthcare from $171.00 to $215.00 and gave the company an "overweight" rating in a research note on Monday, June 2nd. UBS Group raised their target price on Tenet Healthcare from $217.00 to $230.00 and gave the stock a "buy" rating in a research report on Wednesday, April 30th. Truist Financial set a $205.00 target price on Tenet Healthcare and gave the stock a "buy" rating in a research report on Wednesday. Stephens raised Tenet Healthcare to a "strong-buy" rating in a research report on Monday, June 2nd. Finally, Wall Street Zen raised Tenet Healthcare from a "hold" rating to a "buy" rating in a research report on Sunday, June 15th. Three analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $185.41.

About Tenet Healthcare

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.