Parallax Volatility Advisers L.P. Trims Holdings in Tenet Healthcare Co. (NYSE:THC)

Parallax Volatility Advisers L.P. cut its position in Tenet Healthcare Co. (NYSE:THC - Free Report) by 28.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,962 shares of the company's stock after selling 5,251 shares during the quarter. Parallax Volatility Advisers L.P.'s holdings in Tenet Healthcare were worth $1,636,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Franklin Resources Inc. boosted its holdings in shares of Tenet Healthcare by 11.9% in the 3rd quarter. Franklin Resources Inc. now owns 457,704 shares of the company's stock valued at $71,077,000 after purchasing an additional 48,580 shares in the last quarter. Retirement Systems of Alabama boosted its stake in Tenet Healthcare by 46.6% in the third quarter. Retirement Systems of Alabama now owns 176,757 shares of the company's stock valued at $29,377,000 after buying an additional 56,193 shares in the last quarter. B. Riley Wealth Advisors Inc. grew its position in Tenet Healthcare by 101.3% in the third quarter. B. Riley Wealth Advisors Inc. now owns 7,894 shares of the company's stock valued at $1,281,000 after acquiring an additional 3,973 shares during the last quarter. Nordea Investment Management AB lifted its holdings in shares of Tenet Healthcare by 13.5% in the fourth quarter. Nordea Investment Management AB now owns 83,793 shares of the company's stock worth $10,577,000 after acquiring an additional 9,946 shares during the last quarter. Finally, CWA Asset Management Group LLC acquired a new stake in shares of Tenet Healthcare in the 4th quarter valued at approximately $1,758,000. Institutional investors own 95.44% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Truist Financial cut their target price on shares of Tenet Healthcare from $190.00 to $175.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. Guggenheim initiated coverage on Tenet Healthcare in a report on Wednesday, April 9th. They issued a "buy" rating and a $165.00 target price for the company. Morgan Stanley started coverage on Tenet Healthcare in a research note on Wednesday, March 26th. They set an "overweight" rating and a $165.00 price target on the stock. TD Cowen assumed coverage on shares of Tenet Healthcare in a report on Wednesday, February 26th. They issued a "buy" rating and a $175.00 price objective for the company. Finally, Barclays boosted their target price on shares of Tenet Healthcare from $161.00 to $171.00 and gave the stock an "overweight" rating in a report on Wednesday. Five investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $167.06.

Tenet Healthcare Stock Up 3.4 %

Shares of NYSE THC traded up $4.67 during trading on Wednesday, hitting $143.02. 2,333,218 shares of the company traded hands, compared to its average volume of 1,552,893. 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 $126.28 and its 200 day moving average is $136.58. The firm has a market capitalization of $13.50 billion, a price-to-earnings ratio of 4.44, a P/E/G ratio of 1.02 and a beta of 1.77. Tenet Healthcare Co. has a fifty-two week low of $109.82 and a fifty-two week high of $171.20.

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

Insiders Place Their Bets

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