Blueshift Asset Management LLC Lowers Stake in Tenet Healthcare Co. (NYSE:THC)

Blueshift Asset Management LLC decreased its stake in Tenet Healthcare Co. (NYSE:THC) by 19.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,070 shares of the company’s stock after selling 1,202 shares during the period. Blueshift Asset Management LLC’s holdings in Tenet Healthcare were worth $640,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. New Wave Wealth Advisors LLC purchased a new stake in shares of Tenet Healthcare in the fourth quarter worth about $343,000. Swedbank AB lifted its stake in shares of Tenet Healthcare by 100.0% in the fourth quarter. Swedbank AB now owns 40,000 shares of the company’s stock worth $5,049,000 after acquiring an additional 20,000 shares in the last quarter. Signet Financial Management LLC acquired a new position in shares of Tenet Healthcare in the fourth quarter worth about $1,526,000. China Universal Asset Management Co. Ltd. acquired a new position in shares of Tenet Healthcare in the fourth quarter worth about $410,000. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in shares of Tenet Healthcare in the fourth quarter worth about $5,892,000. Hedge funds and other institutional investors own 95.44% of the company’s stock.

Tenet Healthcare Stock Performance

Shares of THC stock opened at $126.07 on Friday. Tenet Healthcare Co. has a 12-month low of $90.03 and a 12-month high of $171.20. The firm has a market capitalization of $11.99 billion, a price-to-earnings ratio of 3.91, a price-to-earnings-growth ratio of 1.02 and a beta of 2.06. The business has a 50 day simple moving average of $132.31 and a 200 day simple moving average of $143.71. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.78 and a quick ratio of 1.70.

Tenet Healthcare (NYSE:THC) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $3.44 earnings per share (EPS) 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%. On average, equities research analysts anticipate that Tenet Healthcare Co. will post 12.24 EPS for the current year.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Raymond James cut Tenet Healthcare from a “strong-buy” rating to an “outperform” rating and set a $195.00 price target on the stock. in a research note on Friday, November 22nd. Truist Financial cut their price objective on Tenet Healthcare from $190.00 to $175.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. StockNews.com upgraded Tenet Healthcare from a “hold” rating to a “buy” rating in a research note on Thursday, March 13th. The Goldman Sachs Group cut Tenet Healthcare from a “buy” rating to a “neutral” rating and cut their price objective for the company from $196.00 to $140.00 in a research note on Monday, December 16th. Finally, JPMorgan Chase & Co. restated an “overweight” rating and set a $175.00 price objective on shares of Tenet Healthcare in a research note on Tuesday, December 17th. Three investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Tenet Healthcare currently has an average rating of “Moderate Buy” and an average price target of $163.88.

Insider Buying and Selling at Tenet Healthcare

In other Tenet Healthcare news, Director J Robert Kerrey sold 9,525 shares of the stock in a transaction 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 of the company’s stock, valued at approximately $3,434,022.54. This trade represents a 25.81 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.93% of the stock is currently owned by corporate insiders.

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.