ExodusPoint Capital Management LP lowered its stake in Tenet Healthcare Co. (NYSE:THC - Free Report) by 79.5% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 16,993 shares of the company's stock after selling 66,054 shares during the period. ExodusPoint Capital Management LP's holdings in Tenet Healthcare were worth $2,145,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds have also added to or reduced their stakes in the stock. Coldstream Capital Management Inc. lifted its position in shares of Tenet Healthcare by 2.2% during the 3rd quarter. Coldstream Capital Management Inc. now owns 3,406 shares of the company's stock valued at $566,000 after buying an additional 74 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Tenet Healthcare by 9.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 940 shares of the company's stock valued at $119,000 after buying an additional 80 shares in the last quarter. Spire Wealth Management boosted its stake in shares of Tenet Healthcare by 19.5% in the fourth quarter. Spire Wealth Management now owns 558 shares of the company's stock worth $70,000 after acquiring an additional 91 shares during the period. CIBC Private Wealth Group LLC grew its stake in Tenet Healthcare by 1.7% during the fourth quarter. CIBC Private Wealth Group LLC now owns 5,619 shares of the company's stock valued at $732,000 after acquiring an additional 92 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its stake in Tenet Healthcare by 1.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 8,109 shares of the company's stock worth $1,024,000 after acquiring an additional 100 shares during the last quarter. 95.44% of the stock is owned by institutional investors.
Analysts Set New Price Targets
THC has been the topic of a number of recent research reports. Barclays decreased their price objective on Tenet Healthcare from $190.00 to $161.00 and set an "overweight" rating on the stock in a research report on Thursday, February 13th. Guggenheim assumed coverage on Tenet Healthcare in a report on Wednesday, April 9th. They set a "buy" rating and a $165.00 target price for the company. Morgan Stanley initiated coverage on shares of Tenet Healthcare in a research note on Wednesday, March 26th. They set an "overweight" rating and a $165.00 price objective for the company. Truist Financial decreased their price objective on shares of Tenet Healthcare from $190.00 to $175.00 and set a "buy" rating for the company in a research report on Monday, January 6th. Finally, JPMorgan Chase & Co. reissued an "overweight" rating and issued a $175.00 price objective on shares of Tenet Healthcare in a report on Tuesday, December 17th. Three analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Tenet Healthcare currently has an average rating of "Moderate Buy" and an average price target of $166.33.
View Our Latest Analysis on Tenet Healthcare
Insiders Place Their Bets
In related news, Director J Robert Kerrey sold 9,525 shares of the firm's stock in a transaction that occurred 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 transaction, the director now owns 27,378 shares in the company, valued at approximately $3,434,022.54. This trade represents a 25.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.93% of the stock is owned by corporate insiders.
Tenet Healthcare Stock Up 0.2 %
THC traded up $0.21 during trading hours on Monday, hitting $124.00. 230,875 shares of the company's stock were exchanged, compared to its average volume of 1,513,079. The firm has a market cap of $11.80 billion, a P/E ratio of 3.85, a price-to-earnings-growth ratio of 1.02 and a beta of 1.77. 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 Co. has a 12-month low of $90.03 and a 12-month high of $171.20. The firm has a 50 day moving average of $129.77 and a 200 day moving average of $139.42.
Tenet Healthcare (NYSE:THC - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $3.44 EPS for the quarter, topping the consensus estimate of $2.95 by $0.49. Tenet Healthcare had a net margin of 15.48% and a return on equity of 21.88%. Analysts predict that Tenet Healthcare Co. will post 12.24 EPS for the current fiscal year.
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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