Amundi Sells 20,326 Shares of Tenet Healthcare Co. (NYSE:THC)

Amundi reduced its position in shares of Tenet Healthcare Co. (NYSE:THC - Free Report) by 96.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 683 shares of the company's stock after selling 20,326 shares during the quarter. Amundi's holdings in Tenet Healthcare were worth $89,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. True Wealth Design LLC acquired a new stake in shares of Tenet Healthcare in the 3rd quarter worth about $38,000. WR Wealth Planners LLC boosted its position in shares of Tenet Healthcare by 2,836.4% during the fourth quarter. WR Wealth Planners LLC now owns 323 shares of the company's stock valued at $41,000 after buying an additional 312 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in Tenet Healthcare by 30.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 471 shares of the company's stock worth $59,000 after buying an additional 110 shares in the last quarter. Kestra Investment Management LLC bought a new position in Tenet Healthcare during the 4th quarter valued at $60,000. Finally, Hantz Financial Services Inc. bought a new stake in shares of Tenet Healthcare in the 3rd quarter worth $83,000. Institutional investors own 95.44% of the company's stock.

Insider Buying and Selling

In other Tenet Healthcare news, Director J Robert Kerrey sold 9,525 shares of the company's stock in a transaction that occurred 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 completion of the sale, the director now owns 27,378 shares of the company's stock, valued at $3,434,022.54. This represents a 25.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.93% of the stock is owned by company insiders.

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Analyst Upgrades and Downgrades

A number of brokerages recently commented on THC. TD Cowen initiated coverage on Tenet Healthcare in a report on Wednesday, February 26th. They set a "buy" rating and a $175.00 price target on the stock. Morgan Stanley initiated coverage on shares of Tenet Healthcare in a research report on Wednesday. They set an "overweight" rating and a $165.00 price target for the company. Truist Financial dropped their target price on shares of Tenet Healthcare from $190.00 to $175.00 and set a "buy" rating on the stock in a research note on Monday, January 6th. JPMorgan Chase & Co. restated an "overweight" rating and set a $175.00 price target on shares of Tenet Healthcare in a research note on Tuesday, December 17th. Finally, StockNews.com upgraded Tenet Healthcare from a "hold" rating to a "buy" rating in a research note on Thursday, March 13th. Three analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Tenet Healthcare has an average rating of "Moderate Buy" and a consensus price target of $163.94.

Tenet Healthcare Price Performance

Shares of THC traded up $2.46 during mid-day trading on Wednesday, reaching $133.24. 1,976,279 shares of the stock traded hands, compared to its average volume of 1,510,042. The company has a market cap of $12.67 billion, a price-to-earnings ratio of 4.13, a price-to-earnings-growth ratio of 1.02 and a beta of 2.06. Tenet Healthcare Co. has a 1 year low of $90.03 and a 1 year high of $171.20. The firm has a fifty day moving average price of $132.29 and a 200 day moving average price of $142.77. 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 quarterly earnings results on Wednesday, February 12th. The company reported $3.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 predict that Tenet Healthcare Co. will post 12.24 earnings per share for the current year.

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.