Tenet Healthcare Co. (NYSE:THC) Shares Sold by Picton Mahoney Asset Management

Picton Mahoney Asset Management cut its stake in shares of Tenet Healthcare Co. (NYSE:THC) by 5.4% during the fourth quarter, Holdings Channel reports. The firm owned 2,612 shares of the company’s stock after selling 150 shares during the quarter. Picton Mahoney Asset Management’s holdings in Tenet Healthcare were worth $330,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of THC. FMR LLC lifted its stake in Tenet Healthcare by 88.0% during the third quarter. FMR LLC now owns 7,700,693 shares of the company’s stock valued at $1,279,855,000 after buying an additional 3,604,161 shares in the last quarter. Wealthfront Advisers LLC purchased a new stake in shares of Tenet Healthcare in the 4th quarter valued at approximately $69,059,000. Geode Capital Management LLC boosted its stake in Tenet Healthcare by 23.6% in the 3rd quarter. Geode Capital Management LLC now owns 2,044,667 shares of the company’s stock worth $339,893,000 after purchasing an additional 390,316 shares during the period. Raymond James Financial Inc. acquired a new stake in Tenet Healthcare during the 4th quarter valued at $49,001,000. Finally, Iron Triangle Partners LP acquired a new stake in shares of Tenet Healthcare in the third quarter worth $51,346,000. 95.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

THC has been the subject of several research analyst reports. The Goldman Sachs Group downgraded Tenet Healthcare from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $196.00 to $140.00 in a research note on Monday, December 16th. Raymond James cut shares of Tenet Healthcare from a “strong-buy” rating to an “outperform” rating and set a $195.00 price target for the company. in a report on Friday, November 22nd. Barclays dropped their price objective on shares of Tenet Healthcare from $190.00 to $161.00 and set an “overweight” rating on the stock in a research note on Thursday, February 13th. Truist Financial lowered their price target 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. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $177.00 price objective on shares of Tenet Healthcare in a report on Thursday, February 13th. Three 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’s stock. Based on data from MarketBeat, Tenet Healthcare has an average rating of “Moderate Buy” and an average price target of $163.88.

Insider Buying and Selling

In other news, Director J Robert Kerrey sold 9,525 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the director now directly owns 27,378 shares in the company, valued at $3,434,022.54. The trade was a 25.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.93% of the stock is owned by insiders.

Tenet Healthcare Stock Up 2.7 %

Shares of Tenet Healthcare stock opened at $122.76 on Monday. Tenet Healthcare Co. has a 12-month low of $90.03 and a 12-month high of $171.20. The stock has a market capitalization of $11.68 billion, a P/E ratio of 3.81, a PEG ratio of 1.02 and a beta of 2.06. The company has a quick ratio of 1.70, a current ratio of 1.78 and a debt-to-equity ratio of 2.25. The stock has a 50 day moving average price of $132.46 and a two-hundred day moving average price of $144.49.

Tenet Healthcare (NYSE:THC) last posted 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 net margin of 15.48% and a return on equity of 21.88%. Equities analysts expect that Tenet Healthcare Co. will post 12.24 earnings per share for the current year.

Tenet Healthcare Company 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.