Congress Park Capital LLC Sells 10,408 Shares of Tenet Healthcare Co. (NYSE:THC)

Congress Park Capital LLC trimmed its stake in shares of Tenet Healthcare Co. (NYSE:THC - Free Report) by 73.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,850 shares of the company's stock after selling 10,408 shares during the period. Congress Park Capital LLC's holdings in Tenet Healthcare were worth $486,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in THC. FMR LLC grew its stake in shares of Tenet Healthcare by 88.0% during the 3rd 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. Geode Capital Management LLC grew its holdings in shares of Tenet Healthcare by 23.6% in the 3rd quarter. Geode Capital Management LLC now owns 2,044,667 shares of the company's stock valued at $339,893,000 after acquiring an additional 390,316 shares in the last quarter. Iron Triangle Partners LP acquired a new stake in shares of Tenet Healthcare in the third quarter valued at about $51,346,000. Allspring Global Investments Holdings LLC grew its stake in Tenet Healthcare by 344.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 317,198 shares of the company's stock valued at $52,718,000 after purchasing an additional 245,875 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new position in shares of Tenet Healthcare in the second quarter valued at $27,454,000. 95.44% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Tenet Healthcare

In related news, EVP Lisa Y. Foo sold 4,000 shares of the firm's stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $155.94, for a total value of $623,760.00. Following the sale, the executive vice president now directly owns 15,566 shares of the company's stock, valued at $2,427,362.04. This trade represents a 20.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.93% of the stock is currently owned by insiders.

Tenet Healthcare Price Performance

Tenet Healthcare stock traded down $1.91 during mid-day trading on Friday, reaching $130.86. 747,352 shares of the company were exchanged, compared to its average volume of 1,002,232. The company has a fifty day simple moving average of $138.39 and a 200-day simple moving average of $147.95. The firm has a market cap of $12.44 billion, a PE ratio of 4.19, a PEG ratio of 0.58 and a beta of 2.06. The company has a debt-to-equity ratio of 2.35, a current ratio of 1.58 and a quick ratio of 1.52. Tenet Healthcare Co. has a 12 month low of $78.77 and a 12 month high of $171.20.

Tenet Healthcare (NYSE:THC - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $2.93 earnings per share for the quarter, topping the consensus estimate of $2.33 by $0.60. Tenet Healthcare had a net margin of 14.91% and a return on equity of 24.05%. The business had revenue of $5.12 billion during the quarter, compared to analysts' expectations of $5.05 billion. During the same quarter in the prior year, the business posted $1.44 earnings per share. Tenet Healthcare's revenue was up 1.1% compared to the same quarter last year. As a group, equities research analysts expect that Tenet Healthcare Co. will post 11.37 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have commented on THC. UBS Group increased their price target on shares of Tenet Healthcare from $197.00 to $217.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. KeyCorp lowered their price target on Tenet Healthcare from $200.00 to $185.00 and set an "overweight" rating on the stock in a research report on Tuesday, January 7th. StockNews.com cut Tenet Healthcare from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, December 17th. Barclays lifted their price objective on shares of Tenet Healthcare from $171.00 to $190.00 and gave the stock an "overweight" rating in a research report on Friday, November 8th. Finally, The Goldman Sachs Group cut shares of Tenet Healthcare from a "buy" rating to a "neutral" rating and cut their target price for the stock from $196.00 to $140.00 in a research note on Monday, December 16th. Three research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Tenet Healthcare currently has an average rating of "Moderate Buy" and a consensus price target of $165.00.

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.