Integral Health Asset Management LLC Sells 130,000 Shares of Tenet Healthcare Co. (NYSE:THC)

Integral Health Asset Management LLC lowered its stake in shares of Tenet Healthcare Co. (NYSE:THC - Free Report) by 24.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 400,000 shares of the company's stock after selling 130,000 shares during the period. Tenet Healthcare makes up 4.3% of Integral Health Asset Management LLC's investment portfolio, making the stock its 2nd biggest holding. Integral Health Asset Management LLC owned about 0.42% of Tenet Healthcare worth $50,492,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in THC. EverSource Wealth Advisors LLC grew its position in 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 purchasing an additional 80 shares in the last quarter. GeoWealth Management LLC grew its position in shares of 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 acquiring an additional 84 shares during the period. Spire Wealth Management grew its position in shares of Tenet Healthcare by 19.5% during the 4th quarter. Spire Wealth Management now owns 558 shares of the company's stock valued at $70,000 after acquiring an additional 91 shares during the period. CIBC Private Wealth Group LLC grew its position in shares of 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 acquiring an additional 92 shares during the period. Finally, Wealth Enhancement Advisory Services LLC grew its position in shares of Tenet Healthcare by 1.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 8,109 shares of the company's stock valued at $1,024,000 after acquiring an additional 100 shares during the period. Institutional investors and hedge funds own 95.44% of the company's stock.

Tenet Healthcare Stock Down 0.2%

Shares of NYSE:THC opened at $148.80 on Monday. The firm has a fifty day moving average price of $129.38 and a two-hundred day moving average price of $135.83. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.78 and a quick ratio of 1.70. Tenet Healthcare Co. has a one year low of $109.82 and a one year high of $171.20. The company has a market cap of $13.82 billion, a price-to-earnings ratio of 4.62, a PEG ratio of 1.02 and a beta of 1.63.

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

Wall Street Analysts Forecast Growth

THC has been the subject of a number of research reports. UBS Group increased their target price 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. Morgan Stanley increased their target price on shares of Tenet Healthcare from $165.00 to $175.00 and gave the company an "overweight" rating in a research report on Monday, May 5th. The Goldman Sachs Group upped their price target on shares of Tenet Healthcare from $134.00 to $154.00 and gave the company a "neutral" rating in a research note on Monday, May 5th. Guggenheim assumed coverage on shares of Tenet Healthcare in a research note on Wednesday, April 9th. They set a "buy" rating and a $165.00 price target on the stock. Finally, TD Cowen assumed coverage on shares of Tenet Healthcare in a research note on Wednesday, February 26th. They set a "buy" rating and a $175.00 price target on the stock. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $173.69.

Insider Activity

In other news, Director J Robert Kerrey sold 9,525 shares of the firm's stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $125.43, for a total transaction of $1,194,720.75. Following the sale, the director now owns 27,378 shares in the company, valued at approximately $3,434,022.54. This trade represents a 25.81% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 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.

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