Voya Investment Management LLC Decreases Stock Position in Tenet Healthcare Co. (NYSE:THC)

Voya Investment Management LLC reduced its stake in shares of Tenet Healthcare Co. (NYSE:THC - Free Report) by 65.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 101,191 shares of the company's stock after selling 188,474 shares during the period. Voya Investment Management LLC owned approximately 0.11% of Tenet Healthcare worth $12,773,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in THC. GeoWealth Management LLC raised its stake in shares of Tenet Healthcare by 39.8% in the fourth quarter. GeoWealth Management LLC now owns 295 shares of the company's stock worth $37,000 after purchasing an additional 84 shares during the last quarter. WR Wealth Planners LLC lifted its stake in Tenet Healthcare by 2,836.4% during the 4th quarter. WR Wealth Planners LLC now owns 323 shares of the company's stock valued at $41,000 after acquiring an additional 312 shares during the period. Smartleaf Asset Management LLC increased its stake in shares of Tenet Healthcare by 30.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 471 shares of the company's stock worth $59,000 after acquiring an additional 110 shares during the period. Kestra Investment Management LLC purchased a new position in shares of Tenet Healthcare during the fourth quarter worth $60,000. Finally, Wilmington Savings Fund Society FSB grew its position in Tenet Healthcare by 1,352.8% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 523 shares of the company's stock worth $66,000 after purchasing an additional 487 shares during the period. 95.44% of the stock is owned by institutional investors and hedge funds.

Tenet Healthcare Trading Up 1.7 %

NYSE THC traded up $2.46 on Thursday, reaching $145.41. 2,170,282 shares of the company were exchanged, compared to its average volume of 1,560,423. Tenet Healthcare Co. has a fifty-two week low of $109.82 and a fifty-two week high of $171.20. The stock has a market capitalization of $13.72 billion, a P/E ratio of 4.51, a price-to-earnings-growth ratio of 1.02 and a beta of 1.77. The business's fifty day moving average price is $126.55 and its 200 day moving average price is $136.62. 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 EPS for the quarter, topping 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 company had revenue of $5.22 billion for 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 quarterly revenue was down 2.5% compared to the same quarter last year. 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 business'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 sale, the director now owns 27,378 shares in the company, valued at approximately $3,434,022.54. The trade was a 25.81 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.81% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently commented on THC. KeyCorp lowered their target price on Tenet Healthcare from $200.00 to $185.00 and set an "overweight" rating on the stock in a research note on Tuesday, January 7th. Baird R W cut shares of Tenet Healthcare from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 15th. Barclays raised their price target on shares of Tenet Healthcare from $161.00 to $171.00 and gave the company an "overweight" rating in a research report on Wednesday. StockNews.com raised shares of Tenet Healthcare from a "hold" rating to a "buy" rating in a research note on Thursday, March 13th. Finally, Truist Financial reduced their price target on Tenet Healthcare from $190.00 to $175.00 and set a "buy" rating for the company in a report on Monday, January 6th. Five research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $167.06.

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.