Tenet Healthcare Co. (NYSE:THC) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. decreased its holdings in Tenet Healthcare Co. (NYSE:THC - Free Report) by 3.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 197,158 shares of the company's stock after selling 7,053 shares during the period. Envestnet Asset Management Inc. owned about 0.21% of Tenet Healthcare worth $24,887,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of THC. Norges Bank bought a new stake in Tenet Healthcare during the fourth quarter valued at about $190,819,000. Wealthfront Advisers LLC acquired a new stake in Tenet Healthcare in the fourth quarter worth about $69,059,000. Raymond James Financial Inc. acquired a new position in Tenet Healthcare during the 4th quarter valued at approximately $49,001,000. Victory Capital Management Inc. increased its position in shares of Tenet Healthcare by 68.9% in the 4th quarter. Victory Capital Management Inc. now owns 507,055 shares of the company's stock valued at $64,006,000 after acquiring an additional 206,907 shares during the period. Finally, Trexquant Investment LP purchased a new position in Tenet Healthcare in the 4th quarter worth $16,658,000. Institutional investors own 95.44% of the company's stock.

Tenet Healthcare Price Performance

NYSE:THC traded up $1.03 during trading hours on Friday, hitting $121.47. 968,650 shares of the stock were exchanged, compared to its average volume of 1,511,401. The company has a market cap of $11.55 billion, a P/E ratio of 3.77, a P/E/G ratio of 1.02 and a beta of 1.77. The firm's fifty day moving average price is $127.88 and its 200 day moving average price is $138.31. Tenet Healthcare Co. has a 52-week low of $90.03 and a 52-week high of $171.20. The company has a current ratio of 1.78, a quick ratio of 1.70 and a debt-to-equity ratio of 2.25.

Tenet Healthcare (NYSE:THC - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $3.44 EPS for the quarter, beating 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 research analysts anticipate that Tenet Healthcare Co. will post 12.24 EPS for the current fiscal year.

Insider Activity at Tenet Healthcare

In other Tenet Healthcare news, Director J Robert Kerrey sold 9,525 shares of the company's stock in a transaction 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 directly owns 27,378 shares in the company, valued at $3,434,022.54. This represents a 25.81 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.93% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. KeyCorp reduced their price objective 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. TD Cowen assumed 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. Baird R W lowered shares of Tenet Healthcare from a "strong-buy" rating to a "hold" rating in a research note on Tuesday. Guggenheim started coverage on shares of Tenet Healthcare in a report on Wednesday, April 9th. They issued a "buy" rating and a $165.00 price target on the stock. Finally, Truist Financial reduced their price objective on Tenet Healthcare from $190.00 to $175.00 and set a "buy" rating for the company in a research note on Monday, January 6th. Five equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, Tenet Healthcare presently has a consensus rating of "Moderate Buy" and a consensus target price of $165.44.

Tenet Healthcare 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.