AXQ Capital LP Reduces Holdings in Tenet Healthcare Co. (NYSE:THC)

AXQ Capital LP reduced its stake in Tenet Healthcare Co. (NYSE:THC - Free Report) by 75.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,768 shares of the company's stock after selling 5,412 shares during the period. AXQ Capital LP's holdings in Tenet Healthcare were worth $223,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in THC. FMR LLC raised its stake in shares of Tenet Healthcare by 88.0% during the third quarter. FMR LLC now owns 7,700,693 shares of the company's stock worth $1,279,855,000 after acquiring an additional 3,604,161 shares in the last quarter. Wealthfront Advisers LLC bought a new position in shares of Tenet Healthcare in the 4th quarter worth about $69,059,000. Geode Capital Management LLC lifted its holdings in shares of Tenet Healthcare by 23.6% during the third quarter. Geode Capital Management LLC now owns 2,044,667 shares of the company's stock valued at $339,893,000 after purchasing an additional 390,316 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Tenet Healthcare in the fourth quarter worth $49,001,000. Finally, Iron Triangle Partners LP purchased a new stake in Tenet Healthcare during the 3rd quarter valued at about $51,346,000. Hedge funds and other institutional investors own 95.44% of the company's stock.

Insider Buying and Selling

In other news, Director J Robert Kerrey sold 9,525 shares of the business'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 transaction, the director now owns 27,378 shares of the company's stock, valued at approximately $3,434,022.54. The trade was a 25.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.93% of the company's stock.

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Analyst Ratings Changes

THC has been the topic of several recent analyst reports. TD Cowen started coverage on Tenet Healthcare in a research note on Wednesday, February 26th. They set a "buy" rating and a $175.00 target price on the stock. Barclays lowered their price objective on Tenet Healthcare from $190.00 to $161.00 and set an "overweight" rating for the company in a research report on Thursday, February 13th. StockNews.com upgraded Tenet Healthcare from a "hold" rating to a "buy" rating in a research note on Thursday, March 13th. Morgan Stanley initiated coverage on Tenet Healthcare in a report on Wednesday. They issued an "overweight" rating and a $165.00 price objective on the stock. Finally, The Goldman Sachs Group cut shares of Tenet Healthcare from a "buy" rating to a "neutral" rating and cut their price objective for the company from $196.00 to $140.00 in a report on Monday, December 16th. Three research 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. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $166.41.

Tenet Healthcare Stock Up 0.0 %

Shares of NYSE THC traded up $0.05 during midday trading on Friday, hitting $134.49. The company's stock had a trading volume of 57,343 shares, compared to its average volume of 1,492,338. Tenet Healthcare Co. has a 1 year low of $90.03 and a 1 year high of $171.20. The firm has a market capitalization of $12.79 billion, a price-to-earnings ratio of 4.17, a price-to-earnings-growth ratio of 1.02 and a beta of 2.06. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.78 and a quick ratio of 1.70. The business's fifty day simple moving average is $132.38 and its two-hundred day simple moving average is $142.64.

Tenet Healthcare (NYSE:THC - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The company reported $3.44 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%. On average, equities analysts predict that Tenet Healthcare Co. will post 12.24 EPS for the current 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.