CenterBook Partners LP Decreases Stock Position in Tenet Healthcare Co. (NYSE:THC)
CenterBook Partners LP reduced its stake in Tenet Healthcare Co. (NYSE:THC) by 15.1% in Q4, now holding 11,800 shares valued at $1.49 million. Other investors also adjusted their positions, with WR Wealth Planners increasing their stake by 2,836.4%. Tenet's stock is down 2.7%, with a market cap of $12.14 billion and a P/E ratio of 3.96. Analysts have mixed ratings, with a consensus of "Moderate Buy" and an average target price of $166.33.
CenterBook Partners LP trimmed its position in Tenet Healthcare Co. (NYSE:THC - Free Report) by 15.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,800 shares of the company's stock after selling 2,095 shares during the period. CenterBook Partners LP's holdings in Tenet Healthcare were worth $1,490,000 at the end of the most recent reporting period.
Get Tenet Healthcare alerts:
- 3 Under-the-Radar Healthcare Companies
A number of other large investors also recently made changes to their positions in THC. WR Wealth Planners LLC grew its stake in Tenet Healthcare by 2,836.4% during 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 during the period. Smartleaf Asset Management LLC increased its holdings in shares of Tenet Healthcare by 30.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 471 shares of the company's stock valued at $59,000 after acquiring an additional 110 shares during the last quarter. Kestra Investment Management LLC acquired a new stake in Tenet Healthcare during the fourth quarter worth about $60,000. Wilmington Savings Fund Society FSB grew its position in shares of Tenet Healthcare by 1,352.8% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 523 shares of the company's stock worth $66,000 after acquiring an additional 487 shares during the last quarter. Finally, Spire Wealth Management grew its holdings in Tenet Healthcare by 19.5% in the 4th quarter. Spire Wealth Management now owns 558 shares of the company's stock worth $70,000 after buying an additional 91 shares in the last quarter. Hedge funds and other institutional investors own 95.44% of the company's stock.
Tenet Healthcare Stock Down 2.7 %
THC opened at $127.59 on Friday. 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 Co. has a twelve month low of $90.03 and a twelve month high of $171.20. The stock has a market capitalization of $12.14 billion, a price-to-earnings ratio of 3.96, a PEG ratio of 1.02 and a beta of 1.77. The firm has a 50 day moving average price of $130.18 and a 200-day moving average price of $139.91.
- HCA Healthcare: Temporary Setbacks, Long-Term Strength
Tenet Healthcare (NYSE:THC - Get Free Report) last posted its quarterly 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 return on equity of 21.88% and a net margin of 15.48%. Equities research analysts forecast that Tenet Healthcare Co. will post 12.24 earnings per share for the current year.
Wall Street Analyst Weigh In
A number of analysts recently weighed in on THC shares. The Goldman Sachs Group cut shares of Tenet Healthcare from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $196.00 to $140.00 in a report on Monday, December 16th. JPMorgan Chase & Co. reiterated an "overweight" rating and set a $175.00 price objective on shares of Tenet Healthcare in a report on Tuesday, December 17th. Cantor Fitzgerald restated an "overweight" rating and set a $177.00 price target on shares of Tenet Healthcare in a report on Thursday, February 13th. Barclays lowered their price target on Tenet Healthcare from $190.00 to $161.00 and set an "overweight" rating on the stock in a report on Thursday, February 13th. Finally, Guggenheim initiated coverage on Tenet Healthcare in a report on Wednesday. They set a "buy" rating and a $165.00 price target for the company. Three investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $166.33.
- Tenet Healthcare Stock Sees Strong Gains from Acute Care Boom
Get Our Latest Stock Analysis on THC
Insider Activity at Tenet Healthcare
In other Tenet Healthcare news, Director J Robert Kerrey sold 9,525 shares of the firm's stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $125.43, for a total value of $1,194,720.75. Following the sale, the director now directly owns 27,378 shares of the company's stock, valued at approximately $3,434,022.54. This trade represents a 25.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.93% of the stock is currently owned by corporate insiders.
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.
Read More
- Five stocks we like better than Tenet Healthcare
- What is diluted earnings per share (Diluted EPS)?
- Joby Aviation: Operational Momentum vs. Market Sentiment
- Dividend Payout Ratio Calculator
- Broadcom's Big Outperformance Shows Strength Amid Tariff Decline
- What is Insider Trading? What You Can Learn from Insider Trading
- Carvana: Can Turnaround Strength Outdrive Market Headwinds?
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Should You Invest $1,000 in Tenet Healthcare Right Now?
Before you consider Tenet Healthcare, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Tenet Healthcare wasn't on the list.
While Tenet Healthcare currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
