Counterpoint Mutual Funds LLC lowered its position in shares of Tenet Healthcare Co. (NYSE:THC - Free Report) by 38.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,795 shares of the company's stock after selling 2,985 shares during the quarter. Counterpoint Mutual Funds LLC's holdings in Tenet Healthcare were worth $605,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. True Wealth Design LLC acquired a new stake in Tenet Healthcare during the 3rd quarter worth $38,000. WR Wealth Planners LLC boosted its position in Tenet Healthcare by 2,836.4% during the fourth quarter. WR Wealth Planners LLC now owns 323 shares of the company's stock worth $41,000 after acquiring 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 purchased a new position in Tenet Healthcare in the 4th quarter worth approximately $60,000. Finally, Hantz Financial Services Inc. purchased a new stake in shares of Tenet Healthcare in the third quarter valued at approximately $83,000. 95.44% of the stock is owned by institutional investors and hedge funds.
Insiders Place Their Bets
In related news, Director J Robert Kerrey sold 9,525 shares of the business's stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $125.43, for a total transaction 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. The trade was a 25.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.93% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth
A number of equities analysts have weighed in on the company. Cantor Fitzgerald reissued an "overweight" rating and set a $177.00 price objective on shares of Tenet Healthcare in a research note 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. TD Cowen assumed coverage on shares of Tenet Healthcare in a report on Wednesday, February 26th. They issued a "buy" rating and a $175.00 target price on the stock. Barclays cut their price target on shares of Tenet Healthcare from $190.00 to $161.00 and set an "overweight" rating for the company in a report on Thursday, February 13th. Finally, Truist Financial lowered their price objective on Tenet Healthcare from $190.00 to $175.00 and set a "buy" rating for the company in a research report on Monday, January 6th. Three analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Tenet Healthcare currently has a consensus rating of "Moderate Buy" and a consensus price target of $163.88.
Check Out Our Latest Research Report on Tenet Healthcare
Tenet Healthcare Stock Down 2.7 %
THC stock traded down $3.47 during midday trading on Friday, hitting $122.87. The company's stock had a trading volume of 6,652,186 shares, compared to its average volume of 1,507,829. Tenet Healthcare Co. has a 52-week low of $90.03 and a 52-week high of $171.20. The firm has a 50-day simple moving average of $132.31 and a 200-day simple moving average of $143.71. The company has a quick ratio of 1.70, a current ratio of 1.78 and a debt-to-equity ratio of 2.25. The firm has a market capitalization of $11.69 billion, a P/E ratio of 3.81, a PEG ratio of 1.02 and a beta of 2.06.
Tenet Healthcare (NYSE:THC - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $3.44 earnings per share 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%. As a group, equities analysts forecast that Tenet Healthcare Co. will post 12.24 EPS for the current year.
About Tenet Healthcare
(
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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