Corient Private Wealth LLC Sells 885 Shares of Tenet Healthcare Co. (NYSE:THC)

Corient Private Wealth LLC decreased its holdings in shares of Tenet Healthcare Co. (NYSE:THC) by 25.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 2,618 shares of the company’s stock after selling 885 shares during the period. Corient Private Wealth LLC’s holdings in Tenet Healthcare were worth $330,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. New Wave Wealth Advisors LLC purchased a new stake in Tenet Healthcare during the 4th quarter valued at $343,000. Swedbank AB raised its stake in shares of Tenet Healthcare by 100.0% in the fourth quarter. Swedbank AB now owns 40,000 shares of the company’s stock valued at $5,049,000 after acquiring an additional 20,000 shares during the period. Signet Financial Management LLC purchased a new position in shares of Tenet Healthcare during the 4th quarter worth about $1,526,000. China Universal Asset Management Co. Ltd. bought a new position in Tenet Healthcare during the 4th quarter valued at about $410,000. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in Tenet Healthcare in the fourth quarter worth about $5,892,000. Institutional investors own 95.44% of the company’s stock.

Tenet Healthcare Stock Performance

Shares of Tenet Healthcare stock opened at $133.17 on Monday. The company has a 50-day simple moving average of $132.43 and a two-hundred day simple moving average of $142.31. The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.70 and a current ratio of 1.78. Tenet Healthcare Co. has a one year low of $90.03 and a one year high of $171.20. The company has a market capitalization of $12.67 billion, a PE ratio of 4.13, a P/E/G ratio of 1.02 and a beta of 2.06.

Tenet Healthcare (NYSE:THC) last released its quarterly earnings results on Wednesday, February 12th. The company reported $3.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.95 by $0.49. Tenet Healthcare had a net margin of 15.48% and a return on equity of 21.88%. Research analysts expect that Tenet Healthcare Co. will post 12.24 EPS for the current fiscal year.

Insider Buying and Selling at Tenet Healthcare

In other Tenet Healthcare news, Director J Robert Kerrey sold 9,525 shares of the company’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $125.43, for a total transaction of $1,194,720.75. Following the transaction, the director now owns 27,378 shares in the company, valued at approximately $3,434,022.54. This represents a 25.81 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.93% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Morgan Stanley assumed coverage on Tenet Healthcare in a report on Wednesday, March 26th. They issued an “overweight” rating and a $165.00 price target on the stock. The Goldman Sachs Group downgraded Tenet Healthcare from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $196.00 to $140.00 in a research report on Monday, December 16th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $177.00 price target on shares of Tenet Healthcare in a research note on Thursday, February 13th. KeyCorp lowered their price objective on shares of Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Finally, StockNews.com raised shares of Tenet Healthcare from a “hold” rating to a “buy” rating in a research report on Thursday, March 13th. Three research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Tenet Healthcare currently has a consensus rating of “Moderate Buy” and a consensus price target of $166.41.

Tenet Healthcare Company 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.