Tenet Healthcare Co. (NYSE:THC) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. cut its position in shares of Tenet Healthcare Co. (NYSE:THC - Free Report) by 31.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 123,260 shares of the company's stock after selling 57,036 shares during the period. Russell Investments Group Ltd. owned approximately 0.13% of Tenet Healthcare worth $15,559,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd boosted its position in shares of 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 buying an additional 10,899 shares during the period. Islay Capital Management LLC acquired a new stake in shares of Tenet Healthcare in the 4th quarter valued at $691,000. Prudential PLC lifted its holdings in Tenet Healthcare by 0.7% during the 4th quarter. Prudential PLC now owns 15,344 shares of the company's stock worth $1,937,000 after buying an additional 107 shares during the last quarter. Huber Capital Management LLC boosted its holdings in Tenet Healthcare by 5.7% in the fourth quarter. Huber Capital Management LLC now owns 11,101 shares of the company's stock valued at $1,401,000 after purchasing an additional 600 shares in the last quarter. Finally, Cinctive Capital Management LP acquired a new stake in Tenet Healthcare during the 4th quarter worth $2,455,000. Institutional investors and hedge funds own 95.44% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have commented on THC. Guggenheim assumed coverage on Tenet Healthcare in a research report on Wednesday, April 9th. They set a "buy" rating and a $165.00 price target on the stock. Truist Financial cut their price objective on Tenet Healthcare from $190.00 to $175.00 and set a "buy" rating for the company in a research report on Monday, January 6th. TD Cowen started coverage on Tenet Healthcare in a research note on Wednesday, February 26th. They set a "buy" rating and a $175.00 price target on the stock. Baird R W cut shares of Tenet Healthcare from a "strong-buy" rating to a "hold" rating in a research note on Tuesday. Finally, JPMorgan Chase & Co. reissued an "overweight" rating and issued a $175.00 price target on shares of Tenet Healthcare in a report on Tuesday, December 17th. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, Tenet Healthcare has an average rating of "Moderate Buy" and a consensus price target of $165.44.

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Insiders Place Their Bets

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

Tenet Healthcare Trading Up 0.5 %

THC traded up $0.63 during trading on Wednesday, hitting $121.54. 219,209 shares of the company's stock were exchanged, compared to its average volume of 1,506,131. Tenet Healthcare Co. has a 1 year low of $90.03 and a 1 year high of $171.20. The stock has a 50 day moving average price of $128.99 and a 200 day moving average price of $139.03. The company has a current ratio of 1.78, a quick ratio of 1.70 and a debt-to-equity ratio of 2.25. The firm has a market cap of $11.56 billion, a P/E ratio of 3.77, a price-to-earnings-growth ratio of 1.02 and a beta of 1.77.

Tenet Healthcare (NYSE:THC - Get Free Report) last released 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 return on equity of 21.88% and a net margin of 15.48%. As a group, analysts expect that Tenet Healthcare Co. will post 12.24 EPS for the current fiscal year.

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.