Tenet Healthcare Co. (NYSE:THC) Shares Sold by Essex Investment Management Co. LLC

Essex Investment Management Co. LLC lessened its stake in shares of Tenet Healthcare Co. (NYSE:THC) by 43.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 21,867 shares of the company’s stock after selling 16,521 shares during the period. Essex Investment Management Co. LLC’s holdings in Tenet Healthcare were worth $2,760,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Plato Investment Management Ltd purchased a new stake in Tenet Healthcare in the third quarter valued at $28,000. True Wealth Design LLC purchased a new stake in shares of Tenet Healthcare in the third quarter worth about $38,000. WR Wealth Planners LLC raised its position in Tenet Healthcare by 2,836.4% during the fourth quarter. WR Wealth Planners LLC now owns 323 shares of the company’s stock valued at $41,000 after acquiring an additional 312 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings in Tenet Healthcare by 30.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 471 shares of the company’s stock valued at $59,000 after acquiring an additional 110 shares during the period. Finally, Kestra Investment Management LLC acquired a new stake in shares of Tenet Healthcare during the 4th quarter worth approximately $60,000. 95.44% of the stock is owned by institutional investors and hedge funds.

Tenet Healthcare Stock Up 1.8 %

THC stock opened at $127.64 on Monday. The company has a market cap of $12.14 billion, a price-to-earnings ratio of 3.96, a PEG ratio of 1.02 and a beta of 2.06. The firm has a 50-day moving average of $132.66 and a two-hundred day moving average of $145.89. Tenet Healthcare Co. has a 12 month low of $90.03 and a 12 month high of $171.20. The company has a current ratio of 1.78, a quick ratio of 1.70 and a debt-to-equity ratio of 2.25.

Tenet Healthcare (NYSE:THC) last released its quarterly earnings data on Wednesday, February 12th. The company reported $3.44 earnings per share for the quarter, topping analysts’ consensus estimates of $2.95 by $0.49. Tenet Healthcare had a return on equity of 21.88% and a net margin of 15.48%. As a group, analysts forecast that Tenet Healthcare Co. will post 12.24 earnings per share for the current fiscal year.

Analyst Ratings Changes

THC has been the topic of a number of recent analyst reports. KeyCorp lowered their price target on shares of 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 started coverage on shares of Tenet Healthcare in a research note on Wednesday, February 26th. They set a “buy” rating and a $175.00 target price on the stock. The Goldman Sachs Group lowered Tenet Healthcare from a “buy” rating to a “neutral” rating and cut their price target for the company from $196.00 to $140.00 in a research note on Monday, December 16th. Raymond James downgraded Tenet Healthcare from a “strong-buy” rating to an “outperform” rating and set a $195.00 price target on the stock. in a research report on Friday, November 22nd. Finally, Truist Financial cut their price objective on Tenet Healthcare from $190.00 to $175.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Four research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $163.88.

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.