Tenet Healthcare Co. (NYSE:THC) Shares Sold by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp lessened its holdings in shares of Tenet Healthcare Co. (NYSE:THC - Free Report) by 35.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,900 shares of the company's stock after selling 4,800 shares during the period. OMERS ADMINISTRATION Corp's holdings in Tenet Healthcare were worth $1,123,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in THC. Norges Bank purchased a new stake in shares of Tenet Healthcare during the 4th quarter valued at $190,819,000. Wealthfront Advisers LLC acquired a new position in shares of Tenet Healthcare in the 4th quarter valued at $69,059,000. Raymond James Financial Inc. acquired a new position in shares of Tenet Healthcare in the 4th quarter valued at $49,001,000. Renaissance Technologies LLC increased its position in shares of Tenet Healthcare by 579.2% in the 4th quarter. Renaissance Technologies LLC now owns 438,563 shares of the company's stock valued at $55,360,000 after acquiring an additional 373,988 shares during the period. Finally, Bridgewater Associates LP increased its position in shares of Tenet Healthcare by 225.4% in the 4th quarter. Bridgewater Associates LP now owns 407,194 shares of the company's stock valued at $51,400,000 after acquiring an additional 282,071 shares during the period. Hedge funds and other institutional investors own 95.44% of the company's stock.

Insiders Place Their Bets

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

Tenet Healthcare Price Performance

THC traded up $1.49 on Tuesday, hitting $168.77. 993,906 shares of the company were exchanged, compared to its average volume of 1,547,352. 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 business's fifty day moving average is $133.70 and its 200 day moving average is $136.23. Tenet Healthcare Co. has a fifty-two week low of $109.82 and a fifty-two week high of $171.20. The firm has a market capitalization of $15.68 billion, a P/E ratio of 5.24, a price-to-earnings-growth ratio of 1.02 and a beta of 1.63.

Tenet Healthcare (NYSE:THC - Get Free Report) last released 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 business had revenue of $5.22 billion for the quarter, compared to analyst estimates of $5.15 billion. Tenet Healthcare had a net margin of 15.48% and a return on equity of 21.88%. The company's quarterly revenue was down 2.5% on a year-over-year basis. During the same period in the prior year, the business earned $3.22 earnings per share. As a group, sell-side analysts anticipate that Tenet Healthcare Co. will post 12.24 EPS for the current year.

Wall Street Analyst Weigh In

THC has been the topic of several research reports. The Goldman Sachs Group upped their target price on Tenet Healthcare from $134.00 to $154.00 and gave the company a "neutral" rating in a research report on Monday, May 5th. UBS Group increased their price target on Tenet Healthcare from $217.00 to $230.00 and gave the stock a "buy" rating in a research report on Wednesday, April 30th. Baird R W downgraded Tenet Healthcare from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 15th. Truist Financial increased their price target on Tenet Healthcare from $175.00 to $190.00 and gave the stock a "buy" rating in a research report on Monday, May 12th. Finally, StockNews.com raised Tenet Healthcare from a "hold" rating to a "buy" rating in a research report on Thursday, May 1st. Four investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $174.94.

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.