Sector Gamma AS Trims Holdings in Tenet Healthcare Co. (NYSE:THC)

Sector Gamma AS decreased its position in shares of Tenet Healthcare Co. (NYSE:THC - Free Report) by 16.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,000 shares of the company's stock after selling 4,361 shares during the period. Tenet Healthcare comprises approximately 1.0% of Sector Gamma AS's holdings, making the stock its 27th biggest holding. Sector Gamma AS's holdings in Tenet Healthcare were worth $2,777,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. True Wealth Design LLC bought a new stake in shares of Tenet Healthcare during the third quarter valued at about $38,000. WR Wealth Planners LLC grew its position in Tenet Healthcare by 2,836.4% during the 4th quarter. WR Wealth Planners LLC now owns 323 shares of the company's stock worth $41,000 after purchasing an additional 312 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in Tenet Healthcare by 30.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 471 shares of the company's stock worth $59,000 after acquiring an additional 110 shares in the last quarter. Kestra Investment Management LLC acquired a new stake in shares of Tenet Healthcare during the fourth quarter worth approximately $60,000. Finally, Wilmington Savings Fund Society FSB grew its holdings 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 in the last quarter. Hedge funds and other institutional investors own 95.44% of the company's stock.

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Tenet Healthcare Stock Performance

NYSE:THC traded up $1.31 during trading hours on Tuesday, reaching $130.80. The stock had a trading volume of 1,694,002 shares, compared to its average volume of 1,511,454. Tenet Healthcare Co. has a 12-month low of $90.03 and a 12-month high of $171.20. The stock has a 50 day simple moving average of $132.29 and a 200 day simple moving average of $142.77. The stock has a market cap of $12.44 billion, a P/E ratio of 4.06, a price-to-earnings-growth ratio of 1.02 and a beta of 2.06. The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.70 and a current ratio of 1.78.

Tenet Healthcare (NYSE:THC - Get Free Report) last announced its quarterly earnings results 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 net margin of 15.48% and a return on equity of 21.88%. On average, research analysts forecast that Tenet Healthcare Co. will post 12.24 EPS for the current fiscal year.

Insider Activity at Tenet Healthcare

In related news, Director J Robert Kerrey sold 9,525 shares of the business's stock in a transaction dated 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 transaction, the director now owns 27,378 shares in the company, valued at $3,434,022.54. The trade was a 25.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.93% of the stock is currently owned by insiders.

Analysts Set New Price Targets

THC has been the topic of several analyst reports. Cantor Fitzgerald reissued an "overweight" rating and set a $177.00 target price on shares of Tenet Healthcare in a research report on Thursday, February 13th. The Goldman Sachs Group lowered Tenet Healthcare from a "buy" rating to a "neutral" rating and lowered their price target for the company from $196.00 to $140.00 in a research note on Monday, December 16th. KeyCorp reduced their price objective on shares of Tenet Healthcare from $200.00 to $185.00 and set an "overweight" rating for the company in a report on Tuesday, January 7th. StockNews.com raised Tenet Healthcare from a "hold" rating to a "buy" rating in a research note on Thursday, March 13th. Finally, Truist Financial decreased their price objective on shares of Tenet Healthcare from $190.00 to $175.00 and set a "buy" rating on the stock in a research note on Monday, January 6th. Three investment 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. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $163.88.

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.