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

Atria Investments Inc lessened its holdings in Tenet Healthcare Co. (NYSE:THCFree Report) 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:THCGet Free Report) 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.

View Our Latest Analysis on Tenet Healthcare

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

(Free Report)

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.

Featured Stories

Want to see what other hedge funds are holding THC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tenet Healthcare Co. (NYSE:THCFree Report).

Institutional Ownership by Quarter for Tenet Healthcare (NYSE:THC)

Receive News & Ratings for Tenet Healthcare Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tenet Healthcare and related companies with MarketBeat.com's FREE daily email newsletter.