Corebridge Financial Inc. Sells 5,704 Shares of Tenet Healthcare Co. (NYSE:THC)

Corebridge Financial Inc. lowered its position in Tenet Healthcare Co. (NYSE:THC - Free Report) by 5.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 107,605 shares of the company's stock after selling 5,704 shares during the period. Corebridge Financial Inc. owned 0.11% of Tenet Healthcare worth $13,583,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Stevens Capital Management LP purchased a new stake in shares of Tenet Healthcare in the 4th quarter worth about $245,000. LPL Financial LLC boosted its stake in Tenet Healthcare by 40.6% during the fourth quarter. LPL Financial LLC now owns 67,136 shares of the company's stock worth $8,475,000 after acquiring an additional 19,389 shares in the last quarter. Fox Run Management L.L.C. increased its stake in shares of Tenet Healthcare by 114.4% during the fourth quarter. Fox Run Management L.L.C. now owns 5,319 shares of the company's stock valued at $671,000 after purchasing an additional 2,838 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of Tenet Healthcare during the fourth quarter valued at approximately $2,777,000. Finally, Hillsdale Investment Management Inc. boosted its position in shares of Tenet Healthcare by 21.7% in the 4th quarter. Hillsdale Investment Management Inc. now owns 5,600 shares of the company's stock worth $707,000 after purchasing an additional 1,000 shares in the last quarter. 95.44% of the stock is currently owned by institutional investors.

Insider Activity

In other Tenet Healthcare news, Director J Robert Kerrey sold 9,525 shares of Tenet Healthcare 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 sale, the director now directly owns 27,378 shares in the company, valued at approximately $3,434,022.54. The trade was a 25.81 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.93% of the company's stock.

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Tenet Healthcare Price Performance

Shares of NYSE THC traded down $1.27 during midday trading on Friday, reaching $133.17. The stock had a trading volume of 864,471 shares, compared to its average volume of 1,506,396. The company has a market capitalization 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. The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.70 and a current ratio of 1.78. The stock has a 50-day moving average of $132.43 and a 200-day moving average of $142.31. Tenet Healthcare Co. has a 12-month low of $90.03 and a 12-month high of $171.20.

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 for the quarter, topping 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, research analysts anticipate that Tenet Healthcare Co. will post 12.24 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Morgan Stanley assumed coverage on Tenet Healthcare in a report on Wednesday. They issued an "overweight" rating and a $165.00 target price on the stock. StockNews.com raised shares of Tenet Healthcare from a "hold" rating to a "buy" rating in a research report on Thursday, March 13th. Truist Financial decreased their target price on shares of Tenet Healthcare from $190.00 to $175.00 and set a "buy" rating for the company in a report on Monday, January 6th. TD Cowen began coverage on shares of Tenet Healthcare in a research report on Wednesday, February 26th. They set a "buy" rating and a $175.00 price target for the company. Finally, JPMorgan Chase & Co. reiterated an "overweight" rating and set a $175.00 target price on shares of Tenet Healthcare in a research note on Tuesday, December 17th. Three investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $166.41.

Tenet Healthcare Company 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.