Penn Capital Management Company LLC decreased its holdings in shares of Tenet Healthcare Co. (NYSE:THC - Free Report) by 79.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,841 shares of the company's stock after selling 10,906 shares during the quarter. Penn Capital Management Company LLC's holdings in Tenet Healthcare were worth $359,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently added to or reduced their stakes in THC. New Wave Wealth Advisors LLC acquired a new stake in shares of Tenet Healthcare during the fourth quarter worth approximately $343,000. Swedbank AB increased its position in shares of Tenet Healthcare by 100.0% in the 4th quarter. Swedbank AB now owns 40,000 shares of the company's stock worth $5,049,000 after purchasing an additional 20,000 shares during the last quarter. Signet Financial Management LLC acquired a new stake in shares of Tenet Healthcare in the 4th quarter valued at about $1,526,000. China Universal Asset Management Co. Ltd. acquired a new position in Tenet Healthcare in the fourth quarter worth about $410,000. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in Tenet Healthcare in the fourth quarter valued at about $5,892,000. 95.44% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling
In other news, Director J Robert Kerrey sold 9,525 shares of the firm'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 sale, the director now directly owns 27,378 shares of the company's stock, 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 document filed with the SEC, which can be accessed through this hyperlink. 0.81% of the stock is owned by insiders.
Analyst Ratings Changes
Several research analysts have recently commented on THC shares. Cantor Fitzgerald reiterated an "overweight" rating and issued a $177.00 target price on shares of Tenet Healthcare in a research report on Thursday, February 13th. KeyCorp dropped their target price on shares of Tenet Healthcare from $200.00 to $185.00 and set an "overweight" rating on the stock in a report on Tuesday, January 7th. Robert W. Baird reaffirmed a "neutral" rating and issued a $137.00 price target (down from $153.00) on shares of Tenet Healthcare in a report on Tuesday, April 15th. Barclays cut their target price on shares of Tenet Healthcare from $190.00 to $161.00 and set an "overweight" rating on the stock in a report on Thursday, February 13th. Finally, 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 on the stock. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $166.17.
Get Our Latest Stock Analysis on THC
Tenet Healthcare Stock Up 0.6 %
Shares of THC traded up $0.81 during mid-day trading on Wednesday, hitting $139.16. 843,423 shares of the company's stock were exchanged, compared to its average volume of 1,533,753. The stock has a market cap of $13.13 billion, a price-to-earnings ratio of 4.32, a P/E/G ratio of 1.02 and a beta of 1.77. Tenet Healthcare Co. has a twelve month low of $109.82 and a twelve month high of $171.20. The firm has a fifty day moving average of $126.28 and a two-hundred day moving average 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.
Tenet Healthcare (NYSE:THC - Get Free Report) last released its quarterly earnings results 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 company had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $5.15 billion. During the same quarter in the prior year, the company posted $3.22 EPS. The firm's revenue was down 2.5% on a year-over-year basis. On average, sell-side analysts forecast that Tenet Healthcare Co. will post 12.24 earnings per share for the current year.
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.
See Also
Before you consider Tenet Healthcare, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Tenet Healthcare wasn't on the list.
While Tenet Healthcare currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
