Tenet Healthcare Co. (NYSE:THC) Shares Sold by AlphaQuest LLC

AlphaQuest LLC decreased its holdings in Tenet Healthcare Co. (NYSE:THC) by 21.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,999 shares of the company’s stock after selling 835 shares during the quarter. AlphaQuest LLC’s holdings in Tenet Healthcare were worth $379,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in THC. FMR LLC grew its position in Tenet Healthcare by 88.0% in the third quarter. FMR LLC now owns 7,700,693 shares of the company’s stock worth $1,279,855,000 after buying an additional 3,604,161 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Tenet Healthcare by 23.6% in the third quarter. Geode Capital Management LLC now owns 2,044,667 shares of the company’s stock worth $339,893,000 after buying an additional 390,316 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Tenet Healthcare during the fourth quarter valued at approximately $49,001,000. Iron Triangle Partners LP acquired a new position in Tenet Healthcare in the 3rd quarter worth approximately $51,346,000. Finally, Victory Capital Management Inc. grew its position in Tenet Healthcare by 68.9% during the 4th quarter. Victory Capital Management Inc. now owns 507,055 shares of the company’s stock worth $64,006,000 after purchasing an additional 206,907 shares in the last quarter. Institutional investors and hedge funds own 95.44% of the company’s stock.

Insider Activity at Tenet Healthcare

In related news, Director J Robert Kerrey sold 9,525 shares of the 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 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 this link. 0.93% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have recently weighed in on THC shares. KeyCorp lowered their price target on Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Wells Fargo & Company lowered shares of Tenet Healthcare from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $205.00 to $150.00 in a research report on Monday, November 25th. Truist Financial lowered their price objective on shares of Tenet Healthcare from $190.00 to $175.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Barclays lowered their price target 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, JPMorgan Chase & Co. reiterated an “overweight” rating and set a $175.00 price objective on shares of Tenet Healthcare in a report on Tuesday, December 17th. Three investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Tenet Healthcare presently has a consensus rating of “Moderate Buy” and a consensus target price of $163.88.

Tenet Healthcare Stock Performance

THC opened at $119.30 on Friday. The company has a market cap of $11.35 billion, a PE ratio of 3.70, a price-to-earnings-growth ratio of 1.02 and a beta of 2.06. The stock has a 50-day moving average of $132.57 and a 200-day moving average of $145.21. Tenet Healthcare Co. has a 52-week low of $90.03 and a 52-week high of $171.20. 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 (NYSE:THC) last released its quarterly earnings results on Wednesday, February 12th. The company reported $3.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.95 by $0.49. Tenet Healthcare had a return on equity of 21.88% and a net margin of 15.48%. As a group, equities research analysts forecast that Tenet Healthcare Co. will post 12.24 earnings per share for the current fiscal year.

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.