Corient Private Wealth LLC Cuts Stake in Tenet Healthcare Co. (NYSE:THC)

Corient Private Wealth LLC trimmed its holdings in Tenet Healthcare Co. (NYSE:THC) by 25.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 2,618 shares of the company’s stock after selling 885 shares during the quarter. Corient Private Wealth LLC’s holdings in Tenet Healthcare were worth $330,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in THC. True Wealth Design LLC purchased a new stake in Tenet Healthcare during the third quarter valued at about $38,000. WR Wealth Planners LLC grew its position in Tenet Healthcare by 2,836.4% during the 4th quarter. WR Wealth Planners LLC now owns 323 shares of the company’s stock worth $41,000 after acquiring an additional 312 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in Tenet Healthcare by 30.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 471 shares of the company’s stock valued at $59,000 after purchasing an additional 110 shares during the last quarter. Kestra Investment Management LLC purchased a new stake in shares of Tenet Healthcare during the fourth quarter valued at approximately $60,000. Finally, Hantz Financial Services Inc. bought a new position in Tenet Healthcare in the 3rd quarter worth about $83,000. Institutional investors own 95.44% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on THC. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $175.00 price target on shares of Tenet Healthcare in a report on Tuesday, December 17th. Truist Financial decreased their price target on Tenet Healthcare from $190.00 to $175.00 and set a “buy” rating for the company in a research note on Monday, January 6th. The Goldman Sachs Group downgraded Tenet Healthcare from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $196.00 to $140.00 in a report on Monday, December 16th. Cantor Fitzgerald restated an “overweight” rating and set a $177.00 target price on shares of Tenet Healthcare in a research note on Thursday, February 13th. Finally, KeyCorp lowered their price objective on shares of Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Three equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $166.41.

Insider Activity

In other news, Director J Robert Kerrey sold 9,525 shares of the business’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $125.43, for a total value of $1,194,720.75. Following the transaction, the director now owns 27,378 shares of the company’s stock, valued at approximately $3,434,022.54. The trade was a 25.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.93% of the company’s stock.

Tenet Healthcare Stock Down 0.9 %

THC stock opened at $133.17 on Monday. The business’s 50-day moving average price is $132.43 and its 200-day moving average price is $142.31. The stock has a market cap of $12.67 billion, a P/E ratio of 4.13, a PEG ratio of 1.02 and a beta of 2.06. Tenet Healthcare Co. has a twelve month low of $90.03 and a twelve month high of $171.20. The company has a quick ratio of 1.70, a current ratio of 1.78 and a debt-to-equity ratio of 2.25.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $3.44 earnings per share 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%. On average, equities research analysts forecast that Tenet Healthcare Co. will post 12.24 EPS for the current 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.