Tenet Healthcare Co. (NYSE:THC) Shares Sold by Atria Wealth Solutions Inc.

Atria Wealth Solutions Inc. lessened its position in shares of Tenet Healthcare Co. (NYSE:THC) by 31.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,155 shares of the company’s stock after selling 2,861 shares during the period. Atria Wealth Solutions Inc.’s holdings in Tenet Healthcare were worth $777,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. New Wave Wealth Advisors LLC acquired a new stake in Tenet Healthcare in the 4th quarter valued at $343,000. Swedbank AB boosted 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 valued at $5,049,000 after purchasing an additional 20,000 shares during the period. Signet Financial Management LLC acquired a new stake in shares of Tenet Healthcare during the fourth quarter valued at 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, abrdn plc grew its stake in Tenet Healthcare by 29.0% during the 4th quarter. abrdn plc now owns 98,229 shares of the company’s stock valued at $12,320,000 after purchasing an additional 22,066 shares in the last quarter. 95.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on THC shares. Barclays decreased their price target on shares of Tenet Healthcare from $190.00 to $161.00 and set an “overweight” rating for the company in a research report on Thursday, February 13th. KeyCorp decreased their target price on Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Raymond James downgraded 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 report on Friday, November 22nd. Royal Bank of Canada raised their price target on shares of Tenet Healthcare from $174.00 to $183.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, Truist Financial lowered their price objective on shares of Tenet Healthcare from $190.00 to $175.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Three investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $163.19.

Tenet Healthcare Price Performance

Shares of NYSE:THC opened at $134.82 on Wednesday. The business has a fifty day simple moving average of $132.90 and a 200 day simple moving average of $147.47. The company has a current ratio of 1.78, a quick ratio of 1.70 and a debt-to-equity ratio of 2.25. Tenet Healthcare Co. has a 1 year low of $88.98 and a 1 year high of $171.20. The firm has a market cap of $12.82 billion, a price-to-earnings ratio of 4.18, a P/E/G ratio of 1.02 and a beta of 2.05.

Tenet Healthcare (NYSE:THC) last released its quarterly earnings data 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 return on equity of 21.88% and a net margin of 15.48%. As a group, sell-side analysts predict that Tenet Healthcare Co. will post 12.24 earnings per share for the current fiscal year.

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.