Aquatic Capital Management LLC cut its stake in shares of Tenet Healthcare Co. (NYSE:THC - Free Report) by 16.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 44,086 shares of the company's stock after selling 8,914 shares during the quarter. Aquatic Capital Management LLC's holdings in Tenet Healthcare were worth $5,565,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. New Wave Wealth Advisors LLC acquired a new position in shares of Tenet Healthcare during the fourth quarter worth about $343,000. Swedbank AB grew its position in shares of Tenet Healthcare by 100.0% during the fourth quarter. Swedbank AB now owns 40,000 shares of the company's stock worth $5,049,000 after buying an additional 20,000 shares in the last quarter. Signet Financial Management LLC acquired a new position in shares of Tenet Healthcare during the fourth quarter worth about $1,526,000. China Universal Asset Management Co. Ltd. acquired a new position in shares of Tenet Healthcare during the fourth quarter worth about $410,000. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in shares of Tenet Healthcare during the fourth quarter worth about $5,892,000. 95.44% of the stock is owned by institutional investors and hedge funds.
Tenet Healthcare Trading Up 3.4 %
Shares of NYSE:THC traded up $4.67 during trading on Wednesday, reaching $143.02. The stock had a trading volume of 2,333,218 shares, compared to its average volume of 1,552,893. The business has a fifty day moving average price of $126.28 and a 200-day moving average price of $136.58. The company has a quick ratio of 1.70, a current ratio of 1.78 and a debt-to-equity ratio of 2.25. The stock has a market cap of $13.50 billion, a P/E ratio of 4.44, a PEG 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 released its earnings results on Tuesday, April 29th. The company reported $4.36 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.11 by $1.25. Tenet Healthcare had a net margin of 15.48% and a return on equity of 21.88%. The firm had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $5.15 billion. During the same period in the previous year, the firm earned $3.22 earnings per share. Tenet Healthcare's revenue was down 2.5% compared to the same quarter last year. As a group, analysts anticipate that Tenet Healthcare Co. will post 12.24 earnings per share for the current fiscal year.
Insider Transactions at Tenet Healthcare
In related news, Director J Robert Kerrey sold 9,525 shares of the business's stock in a transaction dated 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 completion of the sale, the director now directly owns 27,378 shares of the company's stock, valued at $3,434,022.54. The trade was a 25.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.81% of the company's stock.
Analyst Upgrades and Downgrades
Several research firms recently weighed in on THC. Truist Financial decreased their target price on Tenet Healthcare from $190.00 to $175.00 and set a "buy" rating for the company in a research note on Monday, January 6th. Morgan Stanley began coverage on Tenet Healthcare in a research note on Wednesday, March 26th. They set an "overweight" rating and a $165.00 target price for the company. Baird R W cut Tenet Healthcare from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 15th. Cantor Fitzgerald restated an "overweight" rating and set a $177.00 target price on shares of Tenet Healthcare in a research note on Thursday, February 13th. Finally, Barclays boosted their target price on Tenet Healthcare from $161.00 to $171.00 and gave the stock an "overweight" rating in a research note on Wednesday. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $167.06.
Check Out Our Latest Stock Report on THC
About Tenet Healthcare
(
Free Report)
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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