Handelsinvest Investeringsforvaltning Sells 1,703 Shares of Tenet Healthcare Co. (NYSE:THC)

Handelsinvest Investeringsforvaltning decreased its holdings in Tenet Healthcare Co. (NYSE:THC) by 34.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,282 shares of the company’s stock after selling 1,703 shares during the quarter. Handelsinvest Investeringsforvaltning’s holdings in Tenet Healthcare were worth $345,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Silverlake Wealth Management LLC bought a new position in shares of Tenet Healthcare during the 1st quarter worth approximately $223,000. State of Michigan Retirement System lifted its position in shares of Tenet Healthcare by 2.0% during the 1st quarter. State of Michigan Retirement System now owns 24,893 shares of the company’s stock worth $2,617,000 after buying an additional 500 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Tenet Healthcare by 8.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 47,236 shares of the company’s stock worth $4,965,000 after buying an additional 3,869 shares in the last quarter. Optas LLC bought a new position in shares of Tenet Healthcare during the 1st quarter worth approximately $237,000. Finally, 180 Wealth Advisors LLC bought a new position in shares of Tenet Healthcare during the 1st quarter worth approximately $241,000. Institutional investors own 95.44% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on THC. Cantor Fitzgerald restated an “overweight” rating and set a $112.00 price target on shares of Tenet Healthcare in a research note on Tuesday. Wolfe Research upgraded shares of Tenet Healthcare from a “peer perform” rating to an “outperform” rating and set a $122.00 price target for the company in a research note on Wednesday, March 27th. Mizuho restated a “buy” rating and set a $130.00 price target (up previously from $118.00) on shares of Tenet Healthcare in a research note on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft raised their price target on shares of Tenet Healthcare from $150.00 to $155.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Finally, StockNews.com upgraded shares of Tenet Healthcare from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 7th. One analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, Tenet Healthcare presently has a consensus rating of “Buy” and a consensus price target of $121.18.

Tenet Healthcare Stock Up 1.3 %

THC opened at $135.97 on Thursday. The company has a fifty day moving average price of $129.33 and a 200-day moving average price of $103.82. The firm has a market capitalization of $13.28 billion, a P/E ratio of 5.28, a price-to-earnings-growth ratio of 1.39 and a beta of 2.15. The company has a debt-to-equity ratio of 2.58, a current ratio of 1.44 and a quick ratio of 1.37. Tenet Healthcare Co. has a one year low of $51.04 and a one year high of $142.35.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $3.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.45 by $1.77. Tenet Healthcare had a net margin of 12.53% and a return on equity of 26.76%. The company had revenue of $5.37 billion during the quarter, compared to the consensus estimate of $5.15 billion. During the same period in the previous year, the firm posted $1.42 EPS. The firm’s revenue was up 6.9% compared to the same quarter last year. Equities research analysts expect that Tenet Healthcare Co. will post 8.55 earnings per share for the current fiscal year.

Insider Transactions at Tenet Healthcare

In other Tenet Healthcare news, Director Christopher S. Lynch sold 10,861 shares of the business’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $133.83, for a total value of $1,453,527.63. Following the completion of the sale, the director now directly owns 14,759 shares of the company’s stock, valued at $1,975,196.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Tenet Healthcare news, EVP Thomas W. Arnst sold 8,148 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $116.10, for a total value of $945,982.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Christopher S. Lynch sold 10,861 shares of the company’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $133.83, for a total transaction of $1,453,527.63. Following the transaction, the director now directly owns 14,759 shares of the company’s stock, valued at $1,975,196.97. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,691 shares of company stock valued at $3,117,909. Insiders own 0.93% of the company’s stock.

Tenet Healthcare 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.