Moseley Investment Management Inc. Sells 520 Shares of Tenet Healthcare Co. (NYSE:THC)

Moseley Investment Management Inc. trimmed its holdings in shares of Tenet Healthcare Co. (NYSE:THC) by 19.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,211 shares of the company’s stock after selling 520 shares during the quarter. Moseley Investment Management Inc.’s holdings in Tenet Healthcare were worth $279,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of THC. FMR LLC lifted its stake in shares of Tenet Healthcare by 88.0% during the 3rd quarter. FMR LLC now owns 7,700,693 shares of the company’s stock worth $1,279,855,000 after purchasing an additional 3,604,161 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Tenet Healthcare by 23.6% during the third quarter. Geode Capital Management LLC now owns 2,044,667 shares of the company’s stock valued at $339,893,000 after buying an additional 390,316 shares during the last quarter. Marshall Wace LLP boosted its holdings in shares of Tenet Healthcare by 7.3% in the 2nd quarter. Marshall Wace LLP now owns 713,979 shares of the company’s stock valued at $94,981,000 after buying an additional 48,626 shares in the last quarter. Farallon Capital Management LLC raised its stake in shares of Tenet Healthcare by 7.8% during the 2nd quarter. Farallon Capital Management LLC now owns 687,442 shares of the company’s stock worth $91,450,000 after acquiring an additional 50,000 shares in the last quarter. Finally, Integral Health Asset Management LLC boosted its stake in Tenet Healthcare by 17.6% in the second quarter. Integral Health Asset Management LLC now owns 500,000 shares of the company’s stock valued at $66,515,000 after acquiring an additional 75,000 shares in the last quarter. Hedge funds and other institutional investors own 95.44% of the company’s stock.

Insider Activity at Tenet Healthcare

In related news, EVP Lisa Y. Foo sold 4,000 shares of Tenet Healthcare stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $155.94, for a total value of $623,760.00. Following the sale, the executive vice president now owns 15,566 shares of the company’s stock, valued at approximately $2,427,362.04. This trade represents a 20.44 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.93% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on THC. The Goldman Sachs Group lowered Tenet Healthcare from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $196.00 to $140.00 in a report on Monday, December 16th. Royal Bank of Canada increased their price target on Tenet Healthcare from $174.00 to $183.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Truist Financial cut their price objective on shares of Tenet Healthcare from $190.00 to $175.00 and set a “buy” rating on the stock in a report on Monday, January 6th. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $175.00 target price on shares of Tenet Healthcare in a research note on Tuesday, December 17th. Finally, KeyCorp decreased their price target 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. Three equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Tenet Healthcare currently has a consensus rating of “Moderate Buy” and a consensus target price of $165.00.

Tenet Healthcare Stock Down 1.5 %

Shares of THC stock opened at $127.39 on Wednesday. The company has a current ratio of 1.58, a quick ratio of 1.52 and a debt-to-equity ratio of 2.35. Tenet Healthcare Co. has a twelve month low of $78.03 and a twelve month high of $171.20. The stock has a 50 day moving average of $140.51 and a 200 day moving average of $148.22. The stock has a market cap of $12.11 billion, a P/E ratio of 4.08, a P/E/G ratio of 0.61 and a beta of 2.06.

Tenet Healthcare (NYSE:THC) last posted its earnings results on Tuesday, October 29th. The company reported $2.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.33 by $0.60. Tenet Healthcare had a net margin of 14.91% and a return on equity of 24.05%. The firm had revenue of $5.12 billion during the quarter, compared to analysts’ expectations of $5.05 billion. During the same period in the previous year, the business posted $1.44 EPS. The business’s revenue was up 1.1% compared to the same quarter last year. As a group, sell-side analysts expect that Tenet Healthcare Co. will post 11.38 EPS for the current year.

About Tenet Healthcare

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.