First Eagle Investment Management LLC trimmed its holdings in shares of Tenet Healthcare Co. (NYSE:THC - Free Report) by 84.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 10,266 shares of the company's stock after selling 53,842 shares during the quarter. First Eagle Investment Management LLC's holdings in Tenet Healthcare were worth $1,296,000 as of its most recent filing with the SEC.
Other hedge funds have also bought and sold shares of the company. True Wealth Design LLC acquired a new position in Tenet Healthcare in the third quarter worth about $38,000. WR Wealth Planners LLC boosted its stake in 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 acquiring an additional 312 shares during the period. Smartleaf Asset Management LLC boosted its stake in Tenet Healthcare by 30.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 471 shares of the company's stock valued at $59,000 after acquiring an additional 110 shares during the period. Kestra Investment Management LLC acquired a new position in Tenet Healthcare in the fourth quarter valued at approximately $60,000. Finally, Hantz Financial Services Inc. acquired a new position in Tenet Healthcare in the third quarter valued at approximately $83,000. 95.44% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at Tenet Healthcare
In other news, Director J Robert Kerrey sold 9,525 shares of the company's stock in a transaction 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 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.93% of the stock is currently owned by company insiders.
Tenet Healthcare Stock Down 1.3 %
Shares of THC traded down $1.68 during mid-day trading on Thursday, reaching $126.07. The company's stock had a trading volume of 962,509 shares, compared to its average volume of 1,410,768. The business has a fifty day moving average of $132.39 and a 200 day moving average of $143.83. The company has a market cap of $11.99 billion, a price-to-earnings ratio of 3.91, a price-to-earnings-growth ratio of 1.02 and a beta of 2.06. Tenet Healthcare Co. has a 1 year low of $90.03 and a 1 year high of $171.20. The company has a quick ratio of 1.70, a current ratio of 1.78 and a debt-to-equity ratio of 2.25.
Tenet Healthcare (NYSE:THC - Get Free Report) last released its earnings results on Wednesday, February 12th. The company reported $3.44 earnings per share (EPS) for the quarter, beating 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, analysts forecast that Tenet Healthcare Co. will post 12.24 earnings per share for the current fiscal year.
Analysts Set New Price Targets
A number of equities analysts have commented on THC shares. Cantor Fitzgerald restated an "overweight" rating and issued a $177.00 target price on shares of Tenet Healthcare in a research note on Thursday, February 13th. Wells Fargo & Company downgraded Tenet Healthcare from an "overweight" rating to an "equal weight" rating and reduced their price objective for the stock from $205.00 to $150.00 in a research report on Monday, November 25th. JPMorgan Chase & Co. reiterated an "overweight" rating and set a $175.00 price objective on shares of Tenet Healthcare in a research report on Tuesday, December 17th. Raymond James downgraded Tenet Healthcare from a "strong-buy" rating to an "outperform" rating and set a $195.00 price objective for the company. in a research report on Friday, November 22nd. Finally, Truist Financial reduced 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. Three equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $163.88.
Read Our Latest Stock Analysis on THC
Tenet Healthcare Company 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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