Tenet Healthcare Co. (NYSE:THC) Position Cut by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd lessened its position in Tenet Healthcare Co. (NYSE:THC) by 94.6% during the fourth quarter, Holdings Channel reports. The fund owned 507 shares of the company’s stock after selling 8,945 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Tenet Healthcare were worth $64,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of THC. True Wealth Design LLC acquired a new position in shares of Tenet Healthcare during the third quarter worth approximately $38,000. WR Wealth Planners LLC raised 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 in the last quarter. Smartleaf Asset Management LLC grew 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 purchasing an additional 110 shares in the last quarter. Kestra Investment Management LLC bought a new stake in shares of Tenet Healthcare during the fourth quarter valued at about $60,000. Finally, Hantz Financial Services Inc. acquired a new stake in Tenet Healthcare in the third quarter worth about $83,000. 95.44% of the stock is owned by institutional investors and hedge funds.

Tenet Healthcare Trading Down 2.7 %

NYSE THC opened at $122.87 on Monday. The firm’s 50 day moving average price is $132.20 and its two-hundred day moving average price is $143.15. The stock has a market cap of $11.69 billion, a price-to-earnings ratio of 3.81, a PEG ratio of 1.02 and a beta of 2.06. Tenet Healthcare Co. has a twelve month low of $90.03 and a twelve month 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 posted its quarterly earnings results on Wednesday, February 12th. The company reported $3.44 earnings per share for the quarter, beating 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%. Equities analysts anticipate that Tenet Healthcare Co. will post 12.24 EPS for the current year.

Insider Buying and Selling

In other Tenet Healthcare news, Director J Robert Kerrey sold 9,525 shares of the stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $125.43, for a total value 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.93% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

THC has been the topic of a number of recent analyst reports. Cantor Fitzgerald restated an “overweight” rating and set a $177.00 price target on shares of Tenet Healthcare in a research report on Thursday, February 13th. Truist Financial decreased their price target on Tenet Healthcare from $190.00 to $175.00 and set a “buy” rating for the company in a research note on Monday, January 6th. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $175.00 price objective on shares of Tenet Healthcare in a research note on Tuesday, December 17th. TD Cowen started coverage on Tenet Healthcare in a report on Wednesday, February 26th. They set a “buy” rating and a $175.00 target price on the stock. Finally, The Goldman Sachs Group downgraded shares of Tenet Healthcare from a “buy” rating to a “neutral” rating and cut their price target for the company from $196.00 to $140.00 in a report on Monday, December 16th. Three investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $163.88.

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.