Tenet Healthcare Co. (NYSE:THC) Shares Sold by Nuveen Asset Management LLC

Nuveen Asset Management LLC decreased its holdings in Tenet Healthcare Co. (NYSE:THC - Free Report) by 5.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,563,584 shares of the company's stock after selling 86,563 shares during the period. Nuveen Asset Management LLC owned approximately 1.64% of Tenet Healthcare worth $197,371,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. New Wave Wealth Advisors LLC bought a new position in shares of Tenet Healthcare during the fourth quarter valued at about $343,000. Swedbank AB increased its position in Tenet Healthcare by 100.0% during the 4th quarter. Swedbank AB now owns 40,000 shares of the company's stock valued at $5,049,000 after purchasing an additional 20,000 shares during the period. China Universal Asset Management Co. Ltd. purchased a new stake in shares of Tenet Healthcare in the 4th quarter worth about $410,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in shares of Tenet Healthcare during the 4th quarter valued at about $5,892,000. Finally, abrdn plc raised its stake in Tenet Healthcare by 29.0% in the fourth quarter. abrdn plc now owns 98,229 shares of the company's stock worth $12,320,000 after buying an additional 22,066 shares in the last quarter. 95.44% of the stock is owned by institutional investors.

Tenet Healthcare Stock Performance

NYSE THC traded up $1.64 on Monday, reaching $167.11. The stock had a trading volume of 1,795,336 shares, compared to its average volume of 1,553,240. The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.70 and a current ratio of 1.78. Tenet Healthcare Co. has a 12-month low of $109.82 and a 12-month high of $171.20. The business's 50-day moving average price is $132.78 and its 200 day moving average price is $136.16. The stock has a market cap of $15.52 billion, a P/E ratio of 5.18, 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 data on Tuesday, April 29th. The company reported $4.36 earnings per share (EPS) for the quarter, topping the consensus estimate 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 in the prior year, the business posted $3.22 earnings per share. Tenet Healthcare's revenue was down 2.5% compared to the same quarter last year. As a group, equities analysts expect that Tenet Healthcare Co. will post 12.24 earnings per share for the current year.

Wall Street Analysts Forecast Growth

THC has been the subject of a number of analyst reports. UBS Group raised their target price on shares of Tenet Healthcare from $217.00 to $230.00 and gave the company a "buy" rating in a research note on Wednesday, April 30th. Royal Bank of Canada lifted their target price on shares of Tenet Healthcare from $183.00 to $189.00 and gave the stock an "outperform" rating in a report on Wednesday, April 30th. The Goldman Sachs Group boosted their price objective on shares of Tenet Healthcare from $134.00 to $154.00 and gave the stock a "neutral" rating in a report on Monday, May 5th. Baird R W cut Tenet Healthcare from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 15th. 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 report on Wednesday, April 30th. Four analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, Tenet Healthcare presently has a consensus rating of "Moderate Buy" and an average target price of $174.94.

Insider Activity

In other Tenet Healthcare news, Director J Robert Kerrey sold 9,525 shares of the firm'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 completion of the sale, the director now owns 27,378 shares in the company, valued at $3,434,022.54. This trade represents a 25.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Paola M. Arbour sold 6,461 shares of Tenet Healthcare 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 completion of the sale, the executive vice president now owns 27,848 shares of the company's stock, valued at approximately $4,461,249.60. This trade represents a 18.83% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 20,987 shares of company stock valued at $2,972,421 over the last 90 days. Insiders own 0.81% of the company's stock.

Tenet Healthcare Company 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.