Schonfeld Strategic Advisors LLC Cuts Holdings in Tenet Healthcare Co. (NYSE:THC)

Schonfeld Strategic Advisors LLC reduced its stake in shares of Tenet Healthcare Co. (NYSE:THC - Free Report) by 69.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,970 shares of the company's stock after selling 41,471 shares during the quarter. Schonfeld Strategic Advisors LLC's holdings in Tenet Healthcare were worth $2,268,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of THC. GeoWealth Management LLC boosted its position in shares of Tenet Healthcare by 39.8% during the fourth quarter. GeoWealth Management LLC now owns 295 shares of the company's stock valued at $37,000 after purchasing an additional 84 shares in the last quarter. WR Wealth Planners LLC increased its stake in shares of Tenet Healthcare by 2,836.4% during the fourth quarter. WR Wealth Planners LLC now owns 323 shares of the company's stock valued at $41,000 after purchasing an additional 312 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in shares of Tenet Healthcare by 30.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 471 shares of the company's stock worth $59,000 after purchasing an additional 110 shares in the last quarter. Kestra Investment Management LLC purchased a new stake in shares of Tenet Healthcare in the 4th quarter worth approximately $60,000. Finally, Wilmington Savings Fund Society FSB raised its stake in Tenet Healthcare by 1,352.8% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 523 shares of the company's stock valued at $66,000 after buying an additional 487 shares during the last quarter. Institutional investors own 95.44% of the company's stock.

Tenet Healthcare Trading Up 0.4 %

Shares of THC traded up $0.68 during trading hours on Wednesday, reaching $152.16. 1,244,286 shares of the company traded hands, compared to its average volume of 1,551,921. The firm has a market cap of $14.13 billion, a price-to-earnings ratio of 4.72, a PEG ratio of 1.02 and a beta of 1.63. Tenet Healthcare Co. has a 12-month low of $109.82 and a 12-month high of $171.20. The stock's fifty day moving average price is $128.37 and its 200 day moving average price is $136.22. The company has a current ratio of 1.78, a quick ratio of 1.70 and a debt-to-equity ratio of 2.25.

Tenet Healthcare (NYSE:THC - Get Free Report) last issued its earnings results on Tuesday, April 29th. The company reported $4.36 earnings per share 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 business had revenue of $5.22 billion during the quarter, compared to analyst estimates of $5.15 billion. During the same period in the previous year, the company posted $3.22 EPS. Tenet Healthcare's revenue was down 2.5% on a year-over-year basis. Sell-side analysts forecast that Tenet Healthcare Co. will post 12.24 earnings per share for the current year.

Insider Buying and Selling at Tenet Healthcare

In related news, Director J Robert Kerrey sold 9,525 shares of the company's stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $125.43, for a total value of $1,194,720.75. Following the transaction, the director now directly owns 27,378 shares of the company's stock, valued at $3,434,022.54. This represents a 25.81 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.81% of the stock is owned by insiders.

Wall Street Analyst Weigh In

THC has been the topic of a number of analyst reports. StockNews.com upgraded shares of Tenet Healthcare from a "hold" rating to a "buy" rating in a research note on Thursday, May 1st. Barclays upped their target price on shares of Tenet Healthcare from $161.00 to $171.00 and gave the company an "overweight" rating in a research note on Wednesday, April 30th. Morgan Stanley raised their target price on shares of Tenet Healthcare from $165.00 to $175.00 and gave the stock an "overweight" rating in a report on Monday. KeyCorp dropped their target price on Tenet Healthcare from $200.00 to $185.00 and set an "overweight" rating on the stock in a research report on Tuesday, January 7th. Finally, UBS Group raised their price objective on shares of Tenet Healthcare from $217.00 to $230.00 and gave the stock a "buy" rating in a report on Wednesday, April 30th. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $173.69.

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.