Tenet Healthcare Co. (NYSE:THC) Stock Position Decreased by Blueshift Asset Management LLC

Blueshift Asset Management LLC cut its stake in shares of Tenet Healthcare Co. (NYSE:THC) by 19.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 5,070 shares of the company’s stock after selling 1,202 shares during the quarter. Blueshift Asset Management LLC’s holdings in Tenet Healthcare were worth $640,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. New Wave Wealth Advisors LLC bought a new stake in shares of Tenet Healthcare during the 4th quarter worth $343,000. Swedbank AB lifted its holdings in shares of Tenet Healthcare by 100.0% in the fourth quarter. Swedbank AB now owns 40,000 shares of the company’s stock valued at $5,049,000 after purchasing an additional 20,000 shares in the last quarter. Signet Financial Management LLC purchased a new stake in shares of Tenet Healthcare in the fourth quarter valued at $1,526,000. China Universal Asset Management Co. Ltd. purchased a new stake in shares of Tenet Healthcare in the fourth quarter valued at $410,000. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in shares of Tenet Healthcare in the fourth quarter valued at $5,892,000. 95.44% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director J Robert Kerrey sold 9,525 shares of Tenet Healthcare stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $125.43, for a total value of $1,194,720.75. Following the completion of the transaction, the director now owns 27,378 shares in the company, valued at approximately $3,434,022.54. The trade was a 25.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.93% of the company’s stock.

Tenet Healthcare Stock Down 1.3 %

Shares of THC opened at $126.07 on Friday. The stock has a market cap of $11.99 billion, a price-to-earnings ratio of 3.91, a P/E/G 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. Tenet Healthcare Co. has a 12 month low of $90.03 and a 12 month high of $171.20. The company has a 50-day moving average price of $132.31 and a two-hundred day moving average price of $143.71.

Tenet Healthcare (NYSE:THC) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $3.44 EPS for the quarter, topping 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 predict that Tenet Healthcare Co. will post 12.24 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on THC shares. Barclays reduced their target price on Tenet Healthcare from $190.00 to $161.00 and set an “overweight” rating for the company in a report on Thursday, February 13th. Wells Fargo & Company downgraded shares of Tenet Healthcare from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $205.00 to $150.00 in a research report on Monday, November 25th. Truist Financial lowered their target price on shares of Tenet Healthcare from $190.00 to $175.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. JPMorgan Chase & Co. reissued an “overweight” rating and set a $175.00 target price on shares of Tenet Healthcare in a research report on Tuesday, December 17th. Finally, StockNews.com raised Tenet Healthcare from a “hold” rating to a “buy” rating in a research report on Thursday, March 13th. Three investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently 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.