Tenet Healthcare Co. (NYSE:THC) Stock Holdings Lessened by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. lowered its stake in Tenet Healthcare Co. (NYSE:THC) by 61.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 96,888 shares of the company’s stock after selling 157,043 shares during the period. Assenagon Asset Management S.A. owned approximately 0.10% of Tenet Healthcare worth $13,031,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Colonial Trust Co SC increased its holdings in shares of Tenet Healthcare by 85.7% in the fourth quarter. Colonial Trust Co SC now owns 247 shares of the company’s stock valued at $31,000 after buying an additional 114 shares in the last quarter. GeoWealth Management LLC increased its holdings in shares of Tenet Healthcare by 39.8% in the fourth quarter. GeoWealth Management LLC now owns 295 shares of the company’s stock valued at $37,000 after buying an additional 84 shares in the last quarter. WR Wealth Planners LLC raised its stake in Tenet Healthcare by 2,836.4% during the 4th quarter. WR Wealth Planners LLC now owns 323 shares of the company’s stock valued at $41,000 after purchasing an additional 312 shares during the period. Smartleaf Asset Management LLC raised its stake in Tenet Healthcare by 30.5% during the 4th 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 period. Finally, Kestra Investment Management LLC acquired a new stake in Tenet Healthcare during the 4th quarter valued at $60,000. Institutional investors own 95.44% of the company’s stock.

Insiders Place Their Bets

In other Tenet Healthcare news, Director J Robert Kerrey sold 5,001 shares of the company’s stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $148.50, for a total transaction of $742,648.50. Following the completion of the sale, the director now owns 22,377 shares of the company’s stock, valued at $3,322,984.50. This represents a 18.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard W. Fisher sold 836 shares of the stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $173.16, for a total value of $144,761.76. Following the completion of the sale, the director now directly owns 11,292 shares of the company’s stock, valued at $1,955,322.72. This represents a 6.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 54,121 shares of company stock valued at $8,846,305 over the last 90 days. 0.81% of the stock is currently owned by company insiders.

Tenet Healthcare Trading Down 0.8%

NYSE:THC opened at $164.23 on Friday. The company has a market capitalization of $15.25 billion, a P/E ratio of 5.10, a P/E/G ratio of 1.02 and a beta of 1.65. The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.70 and a current ratio of 1.78. The stock’s 50 day moving average price is $148.09 and its 200 day moving average price is $137.65. Tenet Healthcare Co. has a 52 week low of $109.82 and a 52 week high of $174.14.

Tenet Healthcare (NYSE:THC) last announced its earnings results on Tuesday, April 29th. The company reported $4.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.11 by $1.25. The firm had revenue of $5.22 billion during the quarter, compared to analysts’ expectations of $5.15 billion. Tenet Healthcare had a return on equity of 21.88% and a net margin of 15.48%. The company’s revenue was down 2.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.22 earnings per share. On average, research analysts forecast that Tenet Healthcare Co. will post 12.24 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have issued reports on THC shares. Guggenheim started coverage on shares of Tenet Healthcare in a research note on Wednesday, April 9th. They set a “buy” rating and a $165.00 target price on the stock. UBS Group boosted their target price on shares of Tenet Healthcare from $217.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday, April 30th. Baird R W downgraded shares of Tenet Healthcare from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 15th. The Goldman Sachs Group boosted their target price on shares of Tenet Healthcare from $134.00 to $154.00 and gave the company a “neutral” rating in a research note on Monday, May 5th. Finally, Barclays upped their price target on shares of Tenet Healthcare from $171.00 to $215.00 and gave the stock an “overweight” rating in a research note on Monday, June 2nd. Four investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $182.24.

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.