Tenet Healthcare Co. (NYSE:THC) Shares Sold by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC decreased its holdings in Tenet Healthcare Co. (NYSE:THC) by 92.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 34,281 shares of the company’s stock after selling 395,426 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Tenet Healthcare were worth $2,591,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Tenet Healthcare by 0.6% in the third quarter. Vanguard Group Inc. now owns 10,937,483 shares of the company’s stock worth $720,671,000 after purchasing an additional 63,253 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Tenet Healthcare by 2.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,026,724 shares of the company’s stock worth $67,651,000 after buying an additional 26,613 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its position in Tenet Healthcare by 3.3% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 786,852 shares of the company’s stock valued at $51,846,000 after acquiring an additional 25,077 shares in the last quarter. BW Gestao de Investimentos Ltda. grew its stake in Tenet Healthcare by 288.4% in the 3rd quarter. BW Gestao de Investimentos Ltda. now owns 468,871 shares of the company’s stock valued at $30,894,000 after buying an additional 348,151 shares in the last quarter. Finally, Loomis Sayles & Co. L P grew its position in Tenet Healthcare by 5.0% in the third quarter. Loomis Sayles & Co. L P now owns 447,145 shares of the company’s stock worth $29,462,000 after acquiring an additional 21,237 shares in the last quarter. Institutional investors and hedge funds own 95.44% of the company’s stock.

Analysts Set New Price Targets

THC has been the topic of a number of recent analyst reports. Truist Financial increased their price target on shares of Tenet Healthcare from $92.00 to $105.00 and gave the company a “buy” rating in a report on Friday, February 9th. Mizuho increased their price target on shares of Tenet Healthcare from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, February 9th. Royal Bank of Canada increased their target price on shares of Tenet Healthcare from $97.00 to $109.00 and gave the stock an “outperform” rating in a research note on Friday, February 9th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Tenet Healthcare from $100.00 to $126.00 and gave the stock a “buy” rating in a report on Friday, April 12th. Finally, Wells Fargo & Company boosted their target price on shares of Tenet Healthcare from $105.00 to $115.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. One research analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $100.38.

Insider Activity at Tenet Healthcare

In other news, Director Richard W. Fisher sold 2,100 shares of the stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $88.21, for a total value of $185,241.00. Following the transaction, the director now owns 20,127 shares of the company’s stock, valued at approximately $1,775,402.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Tenet Healthcare news, Director Richard W. Fisher sold 2,100 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $88.21, for a total transaction of $185,241.00. Following the completion of the sale, the director now directly owns 20,127 shares in the company, valued at approximately $1,775,402.67. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Thomas W. Arnst sold 17,000 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $94.84, for a total transaction of $1,612,280.00. Following the completion of the transaction, the executive vice president now directly owns 8,148 shares in the company, valued at approximately $772,756.32. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 51,268 shares of company stock valued at $4,944,810. Corporate insiders own 0.93% of the company’s stock.

Tenet Healthcare Price Performance

Shares of NYSE:THC opened at $98.27 on Thursday. The company has a market cap of $9.75 billion, a price-to-earnings ratio of 17.21, a PEG ratio of 3.13 and a beta of 2.08. The company has a debt-to-equity ratio of 4.77, a current ratio of 1.51 and a quick ratio of 1.42. The firm has a 50 day simple moving average of $97.96 and a 200 day simple moving average of $80.05. Tenet Healthcare Co. has a one year low of $51.04 and a one year high of $107.80.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings results on Thursday, February 8th. The company reported $2.68 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $1.10. Tenet Healthcare had a net margin of 2.97% and a return on equity of 26.34%. The business had revenue of $5.38 billion during the quarter, compared to analysts’ expectations of $5.28 billion. During the same period last year, the company posted $1.96 earnings per share. The business’s quarterly revenue was up 7.8% on a year-over-year basis. Research analysts predict that Tenet Healthcare Co. will post 6.3 earnings per share for the current fiscal 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.