Trexquant Investment LP bought a new stake in shares of Tenet Healthcare Co. (NYSE:THC - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 131,965 shares of the company's stock, valued at approximately $16,658,000. Trexquant Investment LP owned about 0.14% of Tenet Healthcare as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also added to or reduced their stakes in the company. WR Wealth Planners LLC lifted its stake in shares of Tenet Healthcare by 2,836.4% in the 4th 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 last quarter. Smartleaf Asset Management LLC increased 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 purchasing an additional 110 shares during the period. Kestra Investment Management LLC purchased a new stake in shares of Tenet Healthcare during the fourth quarter valued at approximately $60,000. Hantz Financial Services Inc. bought a new position in shares of Tenet Healthcare in the third quarter worth approximately $83,000. Finally, Wilmington Savings Fund Society FSB raised its holdings in 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 buying an additional 487 shares during the last quarter. 95.44% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
A number of brokerages have issued reports on THC. StockNews.com raised shares of Tenet Healthcare from a "hold" rating to a "buy" rating in a report on Thursday, March 13th. KeyCorp reduced their price target on Tenet Healthcare from $200.00 to $185.00 and set an "overweight" rating on the stock in a report on Tuesday, January 7th. TD Cowen began coverage on Tenet Healthcare in a research report on Wednesday, February 26th. They issued a "buy" rating and a $175.00 price objective on the stock. Truist Financial decreased their target price on Tenet Healthcare from $190.00 to $175.00 and set a "buy" rating for the company in a report on Monday, January 6th. Finally, Morgan Stanley assumed coverage on shares of Tenet Healthcare in a research report on Wednesday, March 26th. They set an "overweight" rating and a $165.00 price objective on the stock. Three research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $166.41.
Read Our Latest Research Report on THC
Tenet Healthcare Stock Down 3.1 %
Shares of Tenet Healthcare stock traded down $4.24 during midday trading on Thursday, hitting $132.94. The company had a trading volume of 1,334,984 shares, compared to its average volume of 1,483,425. The company has a 50 day moving average of $132.43 and a 200 day moving average of $141.85. The stock has a market capitalization of $12.65 billion, a P/E ratio of 4.12, a P/E/G ratio of 1.02 and a beta of 2.06. Tenet Healthcare Co. has a 52-week low of $90.03 and a 52-week high of $171.20. 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 issued its quarterly 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 return on equity of 21.88% and a net margin of 15.48%. On average, equities analysts predict that Tenet Healthcare Co. will post 12.24 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other news, Director J Robert Kerrey sold 9,525 shares of the firm's stock in a transaction dated 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 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 legal filing with the SEC, which is available through this link. Corporate insiders own 0.93% of the company's stock.
About Tenet Healthcare
(
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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