Headlands Technologies LLC trimmed its holdings in shares of Tenet Healthcare Co. (NYSE:THC - Free Report) by 48.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,806 shares of the company's stock after selling 10,981 shares during the quarter. Headlands Technologies LLC's holdings in Tenet Healthcare were worth $1,490,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds also recently added to or reduced their stakes in THC. Geode Capital Management LLC increased its holdings in shares of Tenet Healthcare by 3.5% during the fourth quarter. Geode Capital Management LLC now owns 2,116,121 shares of the company's stock valued at $268,591,000 after acquiring an additional 71,454 shares in the last quarter. B. Metzler seel. Sohn & Co. AG increased its stake in Tenet Healthcare by 14.5% during the 4th quarter. B. Metzler seel. Sohn & Co. AG now owns 7,977 shares of the company's stock valued at $1,007,000 after purchasing an additional 1,011 shares in the last quarter. CIBC Private Wealth Group LLC raised its holdings in shares of Tenet Healthcare by 1.7% in the fourth quarter. CIBC Private Wealth Group LLC now owns 5,619 shares of the company's stock worth $732,000 after buying an additional 92 shares during the last quarter. DnB Asset Management AS purchased a new stake in shares of Tenet Healthcare during the fourth quarter valued at $6,488,000. Finally, denkapparat Operations GmbH acquired a new position in shares of Tenet Healthcare in the 4th quarter valued at $291,000. 95.44% of the stock is owned by institutional investors and hedge funds.
Tenet Healthcare Price Performance
Tenet Healthcare stock traded down $4.24 during midday trading on Thursday, reaching $132.94. The company had a trading volume of 1,334,984 shares, compared to its average volume of 1,483,425. The firm's fifty day simple moving average is $132.43 and its 200-day simple moving average is $141.85. Tenet Healthcare Co. has a 12-month low of $90.03 and a 12-month high of $171.20. The company has a market capitalization of $12.65 billion, a P/E ratio of 4.12, a P/E/G ratio of 1.02 and a beta of 2.06. 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 issued its quarterly earnings data 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 anticipate that Tenet Healthcare Co. will post 12.24 EPS for the current year.
Insider Buying and Selling at Tenet Healthcare
In other news, Director J Robert Kerrey sold 9,525 shares of the company'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 directly owns 27,378 shares in the company, valued at approximately $3,434,022.54. This represents a 25.81 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.93% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
THC has been the topic of a number of research reports. Truist Financial cut their price objective on Tenet Healthcare from $190.00 to $175.00 and set a "buy" rating on the stock in a report on Monday, January 6th. StockNews.com raised shares of Tenet Healthcare from a "hold" rating to a "buy" rating in a research report on Thursday, March 13th. KeyCorp dropped their price objective on shares of Tenet Healthcare from $200.00 to $185.00 and set an "overweight" rating on the stock in a report on Tuesday, January 7th. Morgan Stanley started coverage on shares of Tenet Healthcare in a report on Wednesday, March 26th. They set an "overweight" rating and a $165.00 target price for the company. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $177.00 price target on shares of Tenet Healthcare in a research report on Thursday, February 13th. Three research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $166.41.
Get Our Latest Research Report on Tenet Healthcare
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.
Featured Stories
Before you consider Tenet Healthcare, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Tenet Healthcare wasn't on the list.
While Tenet Healthcare currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Options trading isn’t just for the Wall Street elite; it’s an accessible strategy for anyone armed with the proper knowledge. Think of options as a strategic toolkit, with each tool designed for a specific financial task. Get this report to learn how options trading can help you use the market’s volatility to your advantage.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
