Kestrel Investment Management Corp Reduces Stake in Tenet Healthcare Co. (NYSE:THC)

Kestrel Investment Management Corp cut its holdings in Tenet Healthcare Co. (NYSE:THC) by 16.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 90,600 shares of the company’s stock after selling 17,600 shares during the quarter. Tenet Healthcare comprises about 4.6% of Kestrel Investment Management Corp’s investment portfolio, making the stock its 5th biggest holding. Kestrel Investment Management Corp owned 0.09% of Tenet Healthcare worth $6,847,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Xponance Inc. raised its position in Tenet Healthcare by 1.2% in the fourth quarter. Xponance Inc. now owns 12,337 shares of the company’s stock worth $932,000 after acquiring an additional 147 shares in the last quarter. US Bancorp DE raised its holdings in Tenet Healthcare by 14.6% during the 1st quarter. US Bancorp DE now owns 1,428 shares of the company’s stock worth $123,000 after buying an additional 182 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings in Tenet Healthcare by 46.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 629 shares of the company’s stock worth $31,000 after buying an additional 199 shares during the period. Treasurer of the State of North Carolina raised its holdings in Tenet Healthcare by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 44,328 shares of the company’s stock worth $2,921,000 after buying an additional 220 shares during the period. Finally, Rockefeller Capital Management L.P. raised its holdings in Tenet Healthcare by 0.5% during the 2nd quarter. Rockefeller Capital Management L.P. now owns 44,692 shares of the company’s stock worth $3,637,000 after buying an additional 243 shares during the period. 95.44% of the stock is currently owned by institutional investors.

Tenet Healthcare Stock Performance

Tenet Healthcare stock traded up $2.15 during trading hours on Friday, reaching $93.23. 1,127,370 shares of the company were exchanged, compared to its average volume of 1,133,102. Tenet Healthcare Co. has a 12 month low of $51.04 and a 12 month high of $107.80. The firm has a market cap of $9.25 billion, a price-to-earnings ratio of 16.33, a PEG ratio of 3.08 and a beta of 2.08. The stock has a 50-day moving average of $97.47 and a 200 day moving average of $79.19. The company has a current ratio of 1.51, a quick ratio of 1.42 and a debt-to-equity ratio of 4.77.

Tenet Healthcare (NYSE:THC) last issued its quarterly earnings results on Thursday, February 8th. The company reported $2.68 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $1.10. Tenet Healthcare had a return on equity of 26.34% and a net margin of 2.97%. The company had revenue of $5.38 billion during the quarter, compared to analyst estimates of $5.28 billion. During the same period in the previous year, the company earned $1.96 earnings per share. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. As a group, research analysts anticipate that Tenet Healthcare Co. will post 6.3 earnings per share for the current year.

Insider Transactions at Tenet Healthcare

In related news, Director Richard W. Fisher sold 2,100 shares of the company’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $88.21, for a total value of $185,241.00. Following the completion of the transaction, the director now directly owns 20,127 shares in the company, valued at $1,775,402.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Richard J. Mark sold 14,000 shares of the company’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $98.98, for a total value of $1,385,720.00. Following the completion of the transaction, the director now directly owns 33,303 shares in the company, valued at $3,296,330.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard W. Fisher sold 2,100 shares of the stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $88.21, for a total value of $185,241.00. Following the transaction, the director now owns 20,127 shares of the company’s stock, valued at $1,775,402.67. The disclosure for this sale can be found here. Insiders sold a total of 51,268 shares of company stock worth $4,944,810 over the last three months. 1.30% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts have issued reports on THC shares. Royal Bank of Canada boosted their price objective on Tenet Healthcare from $97.00 to $109.00 and gave the stock an “outperform” rating in a report on Friday, February 9th. TheStreet raised Tenet Healthcare from a “c+” rating to a “b-” rating in a research note on Tuesday, February 6th. Mizuho lifted their target price on Tenet Healthcare from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, February 9th. Wolfe Research raised Tenet Healthcare from a “peer perform” rating to an “outperform” rating and set a $122.00 target price on the stock in a research note on Wednesday, March 27th. Finally, Wells Fargo & Company boosted their price target on Tenet Healthcare from $105.00 to $115.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. One equities research analyst has rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $100.38.

About Tenet Healthcare

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.