First Eagle Investment Management LLC Has $1.30 Million Holdings in Tenet Healthcare Co. (NYSE:THC)

First Eagle Investment Management LLC trimmed its position in shares of Tenet Healthcare Co. (NYSE:THC) by 84.0% in the fourth quarter, Holdings Channel reports. The fund owned 10,266 shares of the company’s stock after selling 53,842 shares during the quarter. First Eagle Investment Management LLC’s holdings in Tenet Healthcare were worth $1,296,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also made changes to their positions in the business. New Wave Wealth Advisors LLC bought a new position in Tenet Healthcare in the 4th quarter worth approximately $343,000. Swedbank AB boosted its holdings in Tenet Healthcare by 100.0% in the 4th 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 during the period. Signet Financial Management LLC bought a new position in shares of Tenet Healthcare during the 4th quarter worth about $1,526,000. China Universal Asset Management Co. Ltd. acquired a new position in shares of Tenet Healthcare during the fourth quarter valued at about $410,000. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in Tenet Healthcare during the fourth quarter worth about $5,892,000. 95.44% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director J Robert Kerrey sold 9,525 shares of the company’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $125.43, for a total value of $1,194,720.75. Following the completion of the sale, the director now owns 27,378 shares in the company, valued at approximately $3,434,022.54. This represents a 25.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.93% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have commented on THC. Wells Fargo & Company downgraded Tenet Healthcare from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $205.00 to $150.00 in a research report on Monday, November 25th. Truist Financial decreased their price target on shares of Tenet Healthcare from $190.00 to $175.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Raymond James cut shares of Tenet Healthcare from a “strong-buy” rating to an “outperform” rating and set a $195.00 price objective for the company. in a research note on Friday, November 22nd. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $175.00 target price on shares of Tenet Healthcare in a research note on Tuesday, December 17th. Finally, KeyCorp decreased their price objective on Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Three research 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 stock. Based on data from MarketBeat.com, Tenet Healthcare currently has an average rating of “Moderate Buy” and an average target price of $163.88.

Tenet Healthcare Trading Up 2.7 %

Shares of THC opened at $122.76 on Monday. 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 firm has a market capitalization of $11.68 billion, a PE ratio of 3.81, a price-to-earnings-growth ratio of 1.02 and a beta of 2.06. The stock’s fifty day simple moving average is $132.46 and its 200-day simple moving average is $144.49.

Tenet Healthcare (NYSE:THC) last released 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%. As a group, research analysts predict 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.