Harvest Fund Management Co. Ltd lessened its position in shares of Tenet Healthcare Co. (NYSE:THC - Free Report) by 94.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 507 shares of the company's stock after selling 8,945 shares during the period. Harvest Fund Management Co. Ltd's holdings in Tenet Healthcare were worth $64,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Coldstream Capital Management Inc. increased its position in shares of Tenet Healthcare by 2.2% during the 3rd quarter. Coldstream Capital Management Inc. now owns 3,406 shares of the company's stock valued at $566,000 after purchasing an additional 74 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in Tenet Healthcare by 9.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 940 shares of the company's stock worth $119,000 after acquiring an additional 80 shares during the last quarter. Spire Wealth Management lifted its position in Tenet Healthcare by 19.5% during the fourth quarter. Spire Wealth Management now owns 558 shares of the company's stock valued at $70,000 after purchasing an additional 91 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Tenet Healthcare by 1.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 8,109 shares of the company's stock worth $1,024,000 after acquiring an additional 100 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its holdings in shares of 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 purchasing an additional 110 shares in the last quarter. Institutional investors and hedge funds own 95.44% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages have recently issued reports on THC. Truist Financial lowered their price target on shares of Tenet Healthcare from $190.00 to $175.00 and set a "buy" rating for the company in a report on Monday, January 6th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $177.00 price target on shares of Tenet Healthcare in a research note on Thursday, February 13th. KeyCorp lowered their target price 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 upgraded shares of Tenet Healthcare from a "hold" rating to a "buy" rating in a research note on Thursday, March 13th. Finally, JPMorgan Chase & Co. reaffirmed an "overweight" rating and set a $175.00 price target on shares of Tenet Healthcare in a report on Tuesday, December 17th. Three equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $163.94.
Read Our Latest Stock Analysis on THC
Insider Buying and Selling at Tenet Healthcare
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 value of $1,194,720.75. Following the completion of the transaction, the director now directly owns 27,378 shares of the company's stock, valued at $3,434,022.54. This trade represents a 25.81 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.93% of the stock is currently owned by company insiders.
Tenet Healthcare Stock Up 1.0 %
Shares of THC stock traded up $1.37 during mid-day trading on Thursday, hitting $134.41. 1,368,382 shares of the stock traded hands, compared to its average volume of 1,517,464. The stock's fifty day moving average is $132.35 and its two-hundred day moving average is $142.70. 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 52-week low of $90.03 and a 52-week high of $171.20. The stock has a market cap of $12.79 billion, a P/E ratio of 4.17, a P/E/G ratio of 1.02 and a beta of 2.06.
Tenet Healthcare (NYSE:THC - Get Free Report) last announced its earnings results on Wednesday, February 12th. The company reported $3.44 earnings per share for the quarter, beating the consensus estimate of $2.95 by $0.49. Tenet Healthcare had a net margin of 15.48% and a return on equity of 21.88%. Equities analysts predict that Tenet Healthcare Co. will post 12.24 EPS for the current year.
Tenet Healthcare 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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