Hancock Whitney Corp Sells 12,980 Shares of Tenet Healthcare Co. (NYSE:THC)

Hancock Whitney Corp lowered its position in shares of Tenet Healthcare Co. (NYSE:THC - Free Report) by 13.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 81,846 shares of the company's stock after selling 12,980 shares during the period. Hancock Whitney Corp owned about 0.09% of Tenet Healthcare worth $10,331,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. MGO One Seven LLC raised its stake in shares of Tenet Healthcare by 12.2% during the fourth quarter. MGO One Seven LLC now owns 2,014 shares of the company's stock worth $254,000 after acquiring an additional 219 shares in the last quarter. Pinebridge Investments L.P. lifted its stake in Tenet Healthcare by 10.7% in the fourth quarter. Pinebridge Investments L.P. now owns 61,626 shares of the company's stock worth $7,779,000 after purchasing an additional 5,933 shares during the last quarter. Dark Forest Capital Management LP purchased a new stake in Tenet Healthcare during the fourth quarter valued at about $420,000. Susquehanna Advisors Group Inc. purchased a new position in shares of Tenet Healthcare in the fourth quarter worth about $1,893,000. Finally, Rock Springs Capital Management LP purchased a new stake in Tenet Healthcare during the 4th quarter valued at about $16,309,000. 95.44% of the stock is currently owned by institutional investors.

Insider Activity at Tenet Healthcare

In other Tenet Healthcare news, Director J Robert Kerrey sold 9,525 shares of the company's stock in a transaction that occurred 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 $3,434,022.54. This represents a 25.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.81% of the stock is owned by insiders.

Tenet Healthcare Price Performance

Shares of NYSE:THC traded up $12.78 during midday trading on Tuesday, reaching $136.69. 1,699,927 shares of the company were exchanged, compared to its average volume of 1,520,576. The company has a current ratio of 1.78, a quick ratio of 1.70 and a debt-to-equity ratio of 2.25. The stock has a market cap of $12.90 billion, a PE ratio of 4.24, a price-to-earnings-growth ratio of 1.02 and a beta of 1.77. The business's fifty day moving average is $126.27 and its two-hundred day moving average is $136.57. Tenet Healthcare Co. has a one year low of $104.06 and a one year high of $171.20.

Tenet Healthcare (NYSE:THC - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $5.22 billion during the quarter, compared to analyst estimates of $5.15 billion. During the same quarter last year, the business posted $3.22 earnings per share. The business's quarterly revenue was down 2.5% compared to the same quarter last year. As a group, analysts predict that Tenet Healthcare Co. will post 12.24 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on THC. Cantor Fitzgerald reissued an "overweight" rating and set a $177.00 price objective on shares of Tenet Healthcare in a research note on Thursday, February 13th. KeyCorp decreased their price objective on shares of Tenet Healthcare from $200.00 to $185.00 and set an "overweight" rating on the stock in a research report on Tuesday, January 7th. Guggenheim started coverage on shares of Tenet Healthcare in a report on Wednesday, April 9th. They set a "buy" rating and a $165.00 target price for the company. TD Cowen assumed coverage on Tenet Healthcare in a research report on Wednesday, February 26th. They set a "buy" rating and a $175.00 price target for the company. Finally, StockNews.com upgraded Tenet Healthcare from a "hold" rating to a "buy" rating in a research report on Thursday, March 13th. Five equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $165.44.

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.