Cinctive Capital Management LP Buys Shares of 19,446 Tenet Healthcare Co. (NYSE:THC)

Cinctive Capital Management LP acquired a new position in Tenet Healthcare Co. (NYSE:THC - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 19,446 shares of the company's stock, valued at approximately $2,455,000.

Several other large investors also recently bought and sold shares of the company. WR Wealth Planners LLC raised its position in shares of Tenet Healthcare by 2,836.4% in 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 raised its holdings in Tenet Healthcare by 30.5% in the 4th 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. Kestra Investment Management LLC acquired a new position in shares of Tenet Healthcare during the 4th quarter worth approximately $60,000. Wilmington Savings Fund Society FSB grew its position in shares of Tenet Healthcare by 1,352.8% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 523 shares of the company's stock valued at $66,000 after purchasing an additional 487 shares in the last quarter. Finally, Spire Wealth Management lifted its position in Tenet Healthcare by 19.5% during the fourth quarter. Spire Wealth Management now owns 558 shares of the company's stock worth $70,000 after buying an additional 91 shares in the last quarter. 95.44% of the stock is currently owned by hedge funds and other institutional investors.

Tenet Healthcare Stock Down 9.5 %

Shares of THC stock traded down $12.63 during trading hours on Friday, reaching $120.23. 2,875,561 shares of the stock were exchanged, compared to its average volume of 1,505,182. Tenet Healthcare Co. has a 12-month low of $90.03 and a 12-month high of $171.20. The business's fifty day moving average is $132.13 and its two-hundred day moving average is $141.43. 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 firm has a market capitalization of $11.44 billion, a P/E ratio of 3.73, a P/E/G ratio of 1.02 and a beta of 1.77.

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Tenet Healthcare (NYSE:THC - Get Free Report) last released its quarterly earnings data 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 net margin of 15.48% and a return on equity of 21.88%. As a group, research analysts expect that Tenet Healthcare Co. will post 12.24 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have issued reports on THC. KeyCorp cut their target price on Tenet Healthcare from $200.00 to $185.00 and set an "overweight" rating for the company in a research note on Tuesday, January 7th. StockNews.com upgraded shares of Tenet Healthcare from a "hold" rating to a "buy" rating in a report on Thursday, March 13th. Truist Financial reduced their target price on Tenet Healthcare from $190.00 to $175.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. JPMorgan Chase & Co. reissued an "overweight" rating and set a $175.00 price objective on shares of Tenet Healthcare in a research report on Tuesday, December 17th. Finally, TD Cowen started coverage on shares of Tenet Healthcare in a research report on Wednesday, February 26th. They issued a "buy" rating and a $175.00 target price on the stock. Three research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $166.41.

Insider Buying and Selling at Tenet Healthcare

In other Tenet Healthcare 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 completion of the sale, the director now owns 27,378 shares in the company, valued at approximately $3,434,022.54. The trade was a 25.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.93% of the stock is currently owned by 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.