Congress Wealth Management LLC DE reduced its position in Tenet Healthcare Co. (NYSE:THC - Free Report) by 62.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,985 shares of the company's stock after selling 6,635 shares during the quarter. Congress Wealth Management LLC DE's holdings in Tenet Healthcare were worth $503,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of the company. True Wealth Design LLC bought a new stake in Tenet Healthcare in the third quarter valued at $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 lifted its position in 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 purchasing an additional 110 shares during the period. Kestra Investment Management LLC bought a new stake in Tenet Healthcare in the 4th quarter worth approximately $60,000. Finally, Wilmington Savings Fund Society FSB boosted its stake in shares of Tenet Healthcare by 1,352.8% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 523 shares of the company's stock worth $66,000 after buying an additional 487 shares during the last quarter. 95.44% of the stock is owned by hedge funds and other institutional investors.
Tenet Healthcare Trading Down 0.8 %
Shares of THC stock traded down $1.09 during trading on Tuesday, hitting $133.41. 420,684 shares of the stock traded hands, compared to its average volume of 1,481,771. The firm has a market capitalization of $12.69 billion, a P/E ratio of 4.14, a price-to-earnings-growth ratio of 1.02 and a beta of 2.06. Tenet Healthcare Co. has a 52-week low of $90.03 and a 52-week high of $171.20. 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's fifty day moving average price is $132.51 and its 200-day moving average price is $142.15.
Tenet Healthcare (NYSE:THC - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $3.44 earnings per share for the quarter, topping analysts' consensus estimates 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 forecast that Tenet Healthcare Co. will post 12.24 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
A number of brokerages recently commented on THC. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $177.00 target price on shares of Tenet Healthcare in a report on Thursday, February 13th. StockNews.com raised shares of Tenet Healthcare from a "hold" rating to a "buy" rating in a report on Thursday, March 13th. KeyCorp reduced their target price on shares of Tenet Healthcare from $200.00 to $185.00 and set an "overweight" rating on the stock in a report on Tuesday, January 7th. The Goldman Sachs Group lowered Tenet Healthcare from a "buy" rating to a "neutral" rating and decreased their price target for the company from $196.00 to $140.00 in a report on Monday, December 16th. Finally, JPMorgan Chase & Co. restated an "overweight" rating and set a $175.00 target price on shares of Tenet Healthcare in a research report on Tuesday, December 17th. Three research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $166.41.
Read Our Latest Stock Report on THC
Insider Transactions at Tenet Healthcare
In other news, Director J Robert Kerrey sold 9,525 shares of the company's stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $125.43, for a total value of $1,194,720.75. Following the completion of the transaction, the director now owns 27,378 shares in the company, valued at approximately $3,434,022.54. This represents a 25.81 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.93% of the company's stock.
Tenet Healthcare Profile
(
Free Report)
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.
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