Raymond James & Associates Reduces Holdings in Tenet Healthcare Co. (NYSE:THC)

Raymond James & Associates reduced its stake in Tenet Healthcare Co. (NYSE:THC - Free Report) by 31.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 93,127 shares of the company's stock after selling 42,350 shares during the quarter. Raymond James & Associates owned 0.09% of Tenet Healthcare worth $7,038,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. lifted its stake in Tenet Healthcare by 46.3% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 629 shares of the company's stock valued at $31,000 after acquiring an additional 199 shares in the last quarter. Belpointe Asset Management LLC boosted its holdings in Tenet Healthcare by 94.1% during the first quarter. Belpointe Asset Management LLC now owns 588 shares of the company's stock worth $35,000 after purchasing an additional 285 shares during the last quarter. Parkside Financial Bank & Trust increased its stake in Tenet Healthcare by 1,063.9% in the 1st quarter. Parkside Financial Bank & Trust now owns 419 shares of the company's stock valued at $36,000 after buying an additional 383 shares during the last quarter. Lazard Asset Management LLC acquired a new position in shares of Tenet Healthcare during the 1st quarter worth about $36,000. Finally, Sunbelt Securities Inc. bought a new position in shares of Tenet Healthcare in the 3rd quarter valued at about $67,000. Institutional investors and hedge funds own 95.44% of the company's stock.

Insider Buying and Selling at Tenet Healthcare

In related news, Director Richard J. Mark sold 14,000 shares of Tenet Healthcare stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $98.98, for a total value of $1,385,720.00. Following the transaction, the director now directly owns 33,303 shares of the company's stock, valued at $3,296,330.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Richard J. Mark sold 14,000 shares of the company's stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $98.98, for a total transaction of $1,385,720.00. Following the completion of the transaction, the director now directly owns 33,303 shares in the company, valued at approximately $3,296,330.94. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Richard W. Fisher sold 2,100 shares of the company's stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $88.21, for a total transaction of $185,241.00. Following the transaction, the director now owns 20,127 shares of the company's stock, valued at $1,775,402.67. The disclosure for this sale can be found here. Insiders have sold a total of 51,268 shares of company stock valued at $4,944,810 in the last ninety days. 1.70% of the stock is currently owned by company insiders.

Tenet Healthcare Price Performance

Shares of NYSE THC traded down $0.32 during midday trading on Monday, reaching $101.87. The company's stock had a trading volume of 847,166 shares, compared to its average volume of 1,146,411. The company has a debt-to-equity ratio of 4.77, a quick ratio of 1.42 and a current ratio of 1.51. The company has a market cap of $10.19 billion, a P/E ratio of 17.89, a P/E/G ratio of 3.20 and a beta of 2.08. The business's 50 day moving average price is $95.19 and its two-hundred day moving average price is $77.15. Tenet Healthcare Co. has a fifty-two week low of $51.04 and a fifty-two week high of $107.80.

Tenet Healthcare (NYSE:THC - Get Free Report) last announced its quarterly earnings data on Thursday, February 8th. The company reported $2.68 earnings per share for the quarter, beating the consensus estimate of $1.58 by $1.10. Tenet Healthcare had a return on equity of 26.34% and a net margin of 2.97%. The firm had revenue of $5.38 billion during the quarter, compared to analysts' expectations of $5.28 billion. During the same period in the previous year, the firm earned $1.96 EPS. The company's quarterly revenue was up 7.8% compared to the same quarter last year. On average, analysts forecast that Tenet Healthcare Co. will post 6.09 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently commented on THC shares. Cantor Fitzgerald reissued an "overweight" rating and set a $104.00 price target on shares of Tenet Healthcare in a research report on Tuesday, March 5th. Barclays initiated coverage on shares of Tenet Healthcare in a research note on Wednesday, March 6th. They issued an "overweight" rating and a $113.00 target price for the company. TheStreet upgraded shares of Tenet Healthcare from a "c+" rating to a "b-" rating in a research note on Tuesday, February 6th. Wolfe Research raised shares of Tenet Healthcare from a "peer perform" rating to an "outperform" rating and set a $122.00 target price on the stock in a report on Wednesday, March 27th. Finally, Mizuho boosted their price target on Tenet Healthcare from $90.00 to $100.00 and gave the stock a "buy" rating in a research report on Friday, February 9th. One analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Tenet Healthcare currently has a consensus rating of "Buy" and an average price target of $97.56.

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.