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

Tidal Investments LLC decreased its holdings in shares of Tenet Healthcare Co. (NYSE:THC) by 22.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,257 shares of the company’s stock after selling 4,581 shares during the period. Tidal Investments LLC’s holdings in Tenet Healthcare were worth $2,052,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Colonial Trust Co SC lifted its holdings in Tenet Healthcare by 85.7% during the fourth quarter. Colonial Trust Co SC now owns 247 shares of the company’s stock valued at $31,000 after purchasing an additional 114 shares in the last quarter. GeoWealth Management LLC lifted its stake in Tenet Healthcare by 39.8% in the 4th quarter. GeoWealth Management LLC now owns 295 shares of the company’s stock valued at $37,000 after buying an additional 84 shares in the last quarter. WR Wealth Planners LLC boosted its holdings in Tenet Healthcare by 2,836.4% in the 4th quarter. WR Wealth Planners LLC now owns 323 shares of the company’s stock worth $41,000 after buying an additional 312 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of Tenet Healthcare by 30.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 471 shares of the company’s stock valued at $59,000 after acquiring an additional 110 shares during the last quarter. Finally, Kestra Investment Management LLC acquired a new stake in shares of Tenet Healthcare in the fourth quarter worth approximately $60,000. Hedge funds and other institutional investors own 95.44% of the company’s stock.

Wall Street Analyst Weigh In

THC has been the subject of several recent research reports. Robert W. Baird reissued a “neutral” rating and issued a $137.00 price objective (down from $153.00) on shares of Tenet Healthcare in a research note on Tuesday, April 15th. Guggenheim assumed coverage on shares of Tenet Healthcare in a research report on Wednesday, April 9th. They issued a “buy” rating and a $165.00 target price for the company. 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. Wall Street Zen downgraded shares of Tenet Healthcare from a “buy” rating to a “hold” rating in a report on Thursday. Finally, Barclays boosted their target price on Tenet Healthcare from $161.00 to $171.00 and gave the stock an “overweight” rating in a report on Wednesday, April 30th. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $174.94.

Tenet Healthcare Trading Down 1.1%

NYSE THC opened at $161.10 on Friday. Tenet Healthcare Co. has a 12 month low of $109.82 and a 12 month high of $171.20. The stock has a market capitalization of $14.96 billion, a P/E ratio of 5.00, a PEG ratio of 1.02 and a beta of 1.63. The firm’s 50-day moving average is $136.15 and its two-hundred day moving average is $136.63. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.78 and a quick ratio of 1.70.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $4.36 earnings per share for the quarter, topping analysts’ consensus estimates of $3.11 by $1.25. The firm had revenue of $5.22 billion during the quarter, compared to analysts’ expectations of $5.15 billion. Tenet Healthcare had a net margin of 15.48% and a return on equity of 21.88%. The firm’s quarterly revenue was down 2.5% on a year-over-year basis. During the same quarter last year, the company posted $3.22 EPS. On average, sell-side analysts anticipate that Tenet Healthcare Co. will post 12.24 earnings per share for the current year.

Insider Activity

In other Tenet Healthcare news, Director J Robert Kerrey sold 5,001 shares of the business’s stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $148.50, for a total transaction of $742,648.50. Following the sale, the director now directly owns 22,377 shares in the company, valued at $3,322,984.50. This represents a 18.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Paola M. Arbour sold 6,461 shares of the firm’s stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $160.20, for a total transaction of $1,035,052.20. Following the completion of the transaction, the executive vice president now directly owns 27,848 shares of the company’s stock, valued at approximately $4,461,249.60. The trade was a 18.83% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,987 shares of company stock valued at $2,972,421. 0.81% of the stock is currently owned by corporate insiders.

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.