Federated Hermes Inc. reduced its stake in Tenet Healthcare Co. (NYSE:THC - Free Report) by 40.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 58,932 shares of the company's stock after selling 39,279 shares during the quarter. Federated Hermes Inc. owned approximately 0.06% of Tenet Healthcare worth $7,439,000 as of its most recent SEC filing.
A number of other hedge funds have also recently bought and sold shares of THC. Dynamic Technology Lab Private Ltd boosted its holdings in Tenet Healthcare by 314.9% during the fourth quarter. Dynamic Technology Lab Private Ltd now owns 14,360 shares of the company's stock worth $1,813,000 after purchasing an additional 10,899 shares during the last quarter. Islay Capital Management LLC purchased a new position in shares of Tenet Healthcare in the 4th quarter worth approximately $691,000. Prudential PLC increased its position in shares of Tenet Healthcare by 0.7% during the fourth quarter. Prudential PLC now owns 15,344 shares of the company's stock valued at $1,937,000 after acquiring an additional 107 shares during the last quarter. Huber Capital Management LLC lifted its holdings in Tenet Healthcare by 5.7% during the fourth quarter. Huber Capital Management LLC now owns 11,101 shares of the company's stock worth $1,401,000 after acquiring an additional 600 shares during the period. Finally, Cinctive Capital Management LP bought a new position in Tenet Healthcare in the 4th quarter valued at $2,455,000. 95.44% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling at Tenet Healthcare
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 stock was 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 of the company's stock, valued at $3,434,022.54. This trade represents a 25.81 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.93% of the company's stock.
Tenet Healthcare Stock Down 3.3 %
THC traded down $4.18 on Tuesday, hitting $120.73. The company had a trading volume of 542,924 shares, compared to its average volume of 1,516,140. Tenet Healthcare Co. has a 52-week low of $90.03 and a 52-week high of $171.20. The firm has a market capitalization of $11.48 billion, a P/E ratio of 3.75, a P/E/G ratio of 1.02 and a beta of 1.77. The stock has a fifty day simple moving average of $129.37 and a 200-day simple moving average of $139.16. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.78 and a quick ratio of 1.70.
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 (EPS) 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, equities analysts expect that Tenet Healthcare Co. will post 12.24 EPS for the current fiscal year.
Wall Street Analyst Weigh In
A number of brokerages recently weighed in on THC. StockNews.com raised shares of Tenet Healthcare from a "hold" rating to a "buy" rating in a report on Thursday, March 13th. Robert W. Baird reaffirmed a "neutral" rating and issued a $137.00 price target (down previously from $153.00) on shares of Tenet Healthcare in a report on Tuesday. Guggenheim started coverage on Tenet Healthcare in a research report on Wednesday, April 9th. They issued a "buy" rating and a $165.00 target price for the company. KeyCorp cut their price target 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. Finally, Cantor Fitzgerald restated an "overweight" rating and issued a $177.00 price objective on shares of Tenet Healthcare in a research note on Thursday, February 13th. Four analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $165.44.
Read Our Latest Report on Tenet Healthcare
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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