Private Management Group Inc. Reduces Position in Tenet Healthcare Co. (NYSE:THC)

Private Management Group Inc. lessened its holdings in shares of Tenet Healthcare Co. (NYSE:THC) by 2.3% in the 4th quarter, Holdings Channel reports. The fund owned 283,933 shares of the company’s stock after selling 6,685 shares during the quarter. Private Management Group Inc.’s holdings in Tenet Healthcare were worth $21,457,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Tenet Healthcare by 0.6% in the third quarter. Vanguard Group Inc. now owns 10,937,483 shares of the company’s stock valued at $720,671,000 after purchasing an additional 63,253 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Tenet Healthcare by 2.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,026,724 shares of the company’s stock worth $67,651,000 after acquiring an additional 26,613 shares during the period. Jacobs Levy Equity Management Inc. increased its position in Tenet Healthcare by 3.3% during the third quarter. Jacobs Levy Equity Management Inc. now owns 786,852 shares of the company’s stock worth $51,846,000 after purchasing an additional 25,077 shares during the last quarter. BW Gestao de Investimentos Ltda. raised its stake in Tenet Healthcare by 288.4% during the third quarter. BW Gestao de Investimentos Ltda. now owns 468,871 shares of the company’s stock worth $30,894,000 after purchasing an additional 348,151 shares during the period. Finally, Loomis Sayles & Co. L P grew its stake in shares of Tenet Healthcare by 5.0% in the 3rd quarter. Loomis Sayles & Co. L P now owns 447,145 shares of the company’s stock valued at $29,462,000 after buying an additional 21,237 shares during the period. Institutional investors and hedge funds own 95.44% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Truist Financial upped their price objective on Tenet Healthcare from $92.00 to $105.00 and gave the company a “buy” rating in a report on Friday, February 9th. TheStreet raised shares of Tenet Healthcare from a “c+” rating to a “b-” rating in a research note on Tuesday, February 6th. Barclays began coverage on shares of Tenet Healthcare in a report on Wednesday, March 6th. They issued an “overweight” rating and a $113.00 target price for the company. Deutsche Bank Aktiengesellschaft lifted their price objective on Tenet Healthcare from $100.00 to $126.00 and gave the company a “buy” rating in a research note on Friday, April 12th. Finally, 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. One investment analyst has rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Tenet Healthcare has a consensus rating of “Buy” and a consensus target price of $100.38.

Insider Transactions at Tenet Healthcare

In related news, EVP Thomas W. Arnst sold 17,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $94.84, for a total transaction of $1,612,280.00. Following the completion of the sale, the executive vice president now owns 8,148 shares in the company, valued at $772,756.32. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, EVP Paola M. Arbour sold 18,168 shares of the company’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $96.96, for a total value of $1,761,569.28. Following the completion of the sale, the executive vice president now owns 29,803 shares in the company, valued at approximately $2,889,698.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Thomas W. Arnst sold 17,000 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $94.84, for a total transaction of $1,612,280.00. Following the completion of the sale, the executive vice president now directly owns 8,148 shares of the company’s stock, valued at $772,756.32. The disclosure for this sale can be found here. In the last ninety days, insiders sold 51,268 shares of company stock valued at $4,944,810. 0.93% of the stock is currently owned by corporate insiders.

Tenet Healthcare Stock Up 3.2 %

Shares of THC stock traded up $3.01 during trading hours on Tuesday, reaching $97.86. 1,276,757 shares of the stock were exchanged, compared to its average volume of 1,135,030. Tenet Healthcare Co. has a 12-month low of $51.04 and a 12-month high of $107.80. The business’s fifty day moving average is $97.75 and its two-hundred day moving average is $79.92. The company has a debt-to-equity ratio of 4.77, a current ratio of 1.51 and a quick ratio of 1.42. The firm has a market capitalization of $9.71 billion, a P/E ratio of 17.14, a P/E/G ratio of 2.99 and a beta of 2.08.

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

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.