GAMMA Investing LLC Sells 159 Shares of Tenet Healthcare Co. (NYSE:THC)

GAMMA Investing LLC decreased its holdings in Tenet Healthcare Co. (NYSE:THC) by 12.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,116 shares of the company’s stock after selling 159 shares during the period. GAMMA Investing LLC’s holdings in Tenet Healthcare were worth $141,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Plato Investment Management Ltd purchased a new stake in Tenet Healthcare during the 3rd quarter valued at approximately $28,000. ORG Wealth Partners LLC purchased a new position in Tenet Healthcare during the third quarter valued at $30,000. Financial Management Professionals Inc. increased its holdings in Tenet Healthcare by 2,222.2% in the 3rd quarter. Financial Management Professionals Inc. now owns 209 shares of the company’s stock valued at $35,000 after acquiring an additional 200 shares during the last quarter. True Wealth Design LLC bought a new position in shares of Tenet Healthcare during the 3rd quarter valued at about $38,000. Finally, Kayne Anderson Rudnick Investment Management LLC purchased a new stake in shares of Tenet Healthcare in the second quarter worth about $34,000. Hedge funds and other institutional investors own 95.44% of the company’s stock.

Tenet Healthcare Stock Up 1.0 %

Shares of NYSE:THC opened at $130.08 on Friday. Tenet Healthcare Co. has a 52-week low of $78.00 and a 52-week high of $171.20. The stock has a market cap of $12.37 billion, a P/E ratio of 4.17, a price-to-earnings-growth ratio of 0.61 and a beta of 2.06. The business’s 50 day moving average is $141.73 and its 200 day moving average is $148.16. The company has a quick ratio of 1.52, a current ratio of 1.58 and a debt-to-equity ratio of 2.35.

Tenet Healthcare (NYSE:THC) last released its quarterly earnings data on Tuesday, October 29th. The company reported $2.93 earnings per share for the quarter, beating the consensus estimate of $2.33 by $0.60. The firm had revenue of $5.12 billion during the quarter, compared to the consensus estimate of $5.05 billion. Tenet Healthcare had a return on equity of 24.05% and a net margin of 14.91%. The firm’s quarterly revenue was up 1.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.44 earnings per share. Sell-side analysts predict that Tenet Healthcare Co. will post 11.38 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have issued reports on THC shares. The Goldman Sachs Group downgraded Tenet Healthcare from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $196.00 to $140.00 in a research note on Monday, December 16th. KeyCorp lowered their price target on shares of Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating for the company in a report on Tuesday. Truist Financial decreased their price objective on Tenet Healthcare from $190.00 to $175.00 and set a “buy” rating on the stock in a research report on Monday. Royal Bank of Canada lifted their target price on Tenet Healthcare from $174.00 to $183.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, UBS Group increased their target price on shares of Tenet Healthcare from $197.00 to $217.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Three equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $165.00.

Insider Buying and Selling at Tenet Healthcare

In other news, EVP Lisa Y. Foo sold 4,000 shares of the company’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $155.94, for a total transaction of $623,760.00. Following the transaction, the executive vice president now directly owns 15,566 shares of the company’s stock, valued at approximately $2,427,362.04. This represents a 20.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.93% of the stock is owned by insiders.

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.