Parallax Volatility Advisers L.P. Lowers Position in Tenet Healthcare Co. (NYSE:THC)

Parallax Volatility Advisers L.P. lessened its holdings in Tenet Healthcare Co. (NYSE:THC - Free Report) by 28.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,962 shares of the company's stock after selling 5,251 shares during the quarter. Parallax Volatility Advisers L.P.'s holdings in Tenet Healthcare were worth $1,636,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of THC. GeoWealth Management LLC lifted its holdings in Tenet Healthcare by 39.8% in the fourth quarter. GeoWealth Management LLC now owns 295 shares of the company's stock valued at $37,000 after acquiring an additional 84 shares during the period. WR Wealth Planners LLC lifted its stake in shares of Tenet Healthcare by 2,836.4% in the fourth quarter. WR Wealth Planners LLC now owns 323 shares of the company's stock valued at $41,000 after purchasing an additional 312 shares during the period. Smartleaf Asset Management LLC boosted its holdings in Tenet Healthcare by 30.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 471 shares of the company's stock worth $59,000 after buying an additional 110 shares in the last quarter. Kestra Investment Management LLC purchased a new position in Tenet Healthcare in the fourth quarter valued at about $60,000. Finally, Wilmington Savings Fund Society FSB lifted its position in shares of Tenet Healthcare by 1,352.8% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 523 shares of the company's stock valued at $66,000 after acquiring an additional 487 shares during the period. 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 stock in a transaction that occurred 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 sale, the director now owns 27,378 shares of the company's stock, valued at approximately $3,434,022.54. This represents a 25.81 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.81% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on THC. Barclays dropped their price objective on Tenet Healthcare from $190.00 to $161.00 and set an "overweight" rating for the company in a research note on Thursday, February 13th. Morgan Stanley initiated coverage on Tenet Healthcare in a research note on Wednesday, March 26th. They set an "overweight" rating and a $165.00 price target for the company. StockNews.com raised shares of Tenet Healthcare from a "hold" rating to a "buy" rating in a research note on Thursday, March 13th. TD Cowen initiated coverage on shares of Tenet Healthcare in a research report on Wednesday, February 26th. They set a "buy" rating and a $175.00 target price for the company. Finally, 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. Five research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. Based on data from MarketBeat, Tenet Healthcare presently has a consensus rating of "Moderate Buy" and an average target price of $165.44.

Tenet Healthcare Trading Down 1.8 %

NYSE THC opened at $121.99 on Friday. The company has a 50-day moving average of $126.50 and a 200-day moving average of $136.90. 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 Co. has a 12 month low of $92.01 and a 12 month high of $171.20. The company has a market cap of $11.51 billion, a P/E ratio of 3.78, a P/E/G ratio of 1.02 and a beta of 1.77.

Tenet Healthcare (NYSE:THC - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $3.44 earnings per share for the quarter, topping analysts' consensus estimates of $2.95 by $0.49. Tenet Healthcare had a net margin of 15.48% and a return on equity of 21.88%. As a group, equities analysts predict that Tenet Healthcare Co. will post 12.24 earnings per share for the current year.

Tenet Healthcare Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.