Choreo LLC Sells 929 Shares of Tenet Healthcare Co. (NYSE:THC)

Choreo LLC reduced its stake in Tenet Healthcare Co. (NYSE:THC) by 24.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,846 shares of the company’s stock after selling 929 shares during the period. Choreo LLC’s holdings in Tenet Healthcare were worth $357,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in THC. FMR LLC raised its stake in shares of Tenet Healthcare by 88.0% in the 3rd quarter. FMR LLC now owns 7,700,693 shares of the company’s stock valued at $1,279,855,000 after purchasing an additional 3,604,161 shares during the period. Geode Capital Management LLC raised its stake in shares of Tenet Healthcare by 23.6% in the 3rd quarter. Geode Capital Management LLC now owns 2,044,667 shares of the company’s stock valued at $339,893,000 after purchasing an additional 390,316 shares during the period. Franklin Resources Inc. raised its stake in shares of Tenet Healthcare by 11.9% in the 3rd quarter. Franklin Resources Inc. now owns 457,704 shares of the company’s stock valued at $71,077,000 after purchasing an additional 48,580 shares during the period. Point72 Asset Management L.P. raised its stake in shares of Tenet Healthcare by 32.0% in the 3rd quarter. Point72 Asset Management L.P. now owns 442,949 shares of the company’s stock valued at $73,618,000 after purchasing an additional 107,290 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of Tenet Healthcare by 344.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 317,198 shares of the company’s stock valued at $52,718,000 after purchasing an additional 245,875 shares during the period. Institutional investors and hedge funds own 95.44% of the company’s stock.

Tenet Healthcare Stock Down 9.0 %

Shares of NYSE:THC opened at $126.29 on Thursday. The company has a debt-to-equity ratio of 2.35, a quick ratio of 1.52 and a current ratio of 1.58. The company has a market capitalization of $12.01 billion, a PE ratio of 4.05, a price-to-earnings-growth ratio of 0.63 and a beta of 2.05. The company has a fifty day moving average of $133.55 and a 200-day moving average of $148.37. Tenet Healthcare Co. has a 52-week low of $86.90 and a 52-week high of $171.20.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $3.44 EPS for the quarter, beating the consensus estimate of $2.95 by $0.49. Tenet Healthcare had a net margin of 14.91% and a return on equity of 24.05%. On average, equities analysts predict that Tenet Healthcare Co. will post 11.37 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. KeyCorp lowered their target price on Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. UBS Group lifted their target price on Tenet Healthcare from $197.00 to $217.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. StockNews.com downgraded Tenet Healthcare from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, December 17th. Truist Financial lowered their target price on Tenet Healthcare from $190.00 to $175.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Finally, Raymond James downgraded Tenet Healthcare from a “strong-buy” rating to an “outperform” rating and set a $195.00 target price on the stock. in a research report on Friday, November 22nd. Three investment 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 stock. Based on data from MarketBeat, Tenet Healthcare presently has a consensus rating of “Moderate Buy” and a consensus price target of $165.00.

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.