Atria Investments Inc Cuts Position in Tenet Healthcare Co. (NYSE:THC)

Atria Investments Inc lessened its holdings in Tenet Healthcare Co. (NYSE:THC) by 12.5% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,387 shares of the company’s stock after selling 484 shares during the period. Atria Investments Inc’s holdings in Tenet Healthcare were worth $428,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of THC. True Wealth Design LLC purchased a new stake in shares of Tenet Healthcare during the third quarter worth $38,000. WR Wealth Planners LLC raised its position in shares of Tenet Healthcare by 2,836.4% in the fourth quarter. WR Wealth Planners LLC now owns 323 shares of the company’s stock worth $41,000 after buying an additional 312 shares in the last quarter. Smartleaf Asset Management LLC raised its position in shares of Tenet Healthcare by 30.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 471 shares of the company’s stock worth $59,000 after buying an additional 110 shares in the last quarter. Kestra Investment Management LLC purchased a new stake in shares of Tenet Healthcare in the fourth quarter worth $60,000. Finally, Wilmington Savings Fund Society FSB raised its position in shares of Tenet Healthcare by 1,352.8% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 523 shares of the company’s stock worth $66,000 after buying an additional 487 shares in the last quarter. Hedge funds and other institutional investors own 95.44% of the company’s stock.

Tenet Healthcare Trading Up 2.7 %

NYSE:THC opened at $122.76 on Monday. 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 12 month low of $90.03 and a 12 month high of $171.20. The company has a market cap 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 company has a 50 day simple moving average of $132.46 and a two-hundred day simple moving average of $144.49.

Tenet Healthcare (NYSE:THC) last posted its 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%. Research analysts forecast that Tenet Healthcare Co. will post 12.24 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on THC. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $175.00 price objective on shares of Tenet Healthcare in a research report on Tuesday, December 17th. TD Cowen started coverage on Tenet Healthcare in a research report on Wednesday, February 26th. They set a “buy” rating and a $175.00 price target on the stock. KeyCorp lowered their price target 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. Wells Fargo & Company downgraded Tenet Healthcare from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $205.00 to $150.00 in a research report on Monday, November 25th. Finally, Truist Financial lowered their price target 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. Three investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $163.88.

Insiders Place Their Bets

In other news, Director J Robert Kerrey sold 9,525 shares of the company’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $125.43, for a total transaction of $1,194,720.75. Following the sale, the director now directly owns 27,378 shares in the company, valued at approximately $3,434,022.54. This represents a 25.81 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate 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.