Tenet Healthcare Co. (NYSE:THC) Stake Trimmed by Amalgamated Bank

Amalgamated Bank reduced its position in Tenet Healthcare Co. (NYSE:THC) by 1.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 77,173 shares of the company’s stock after selling 1,273 shares during the period. Amalgamated Bank owned about 0.08% of Tenet Healthcare worth $5,832,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in THC. Levin Capital Strategies L.P. purchased a new stake in shares of Tenet Healthcare in the fourth quarter valued at $1,684,000. Sivik Global Healthcare LLC grew its stake in Tenet Healthcare by 3.6% during the 4th quarter. Sivik Global Healthcare LLC now owns 145,000 shares of the company’s stock valued at $10,958,000 after acquiring an additional 5,000 shares in the last quarter. SummerHaven Investment Management LLC lifted its position in shares of Tenet Healthcare by 1.7% in the fourth quarter. SummerHaven Investment Management LLC now owns 8,685 shares of the company’s stock worth $656,000 after purchasing an additional 145 shares in the last quarter. Retirement Systems of Alabama grew its position in Tenet Healthcare by 0.3% during the fourth quarter. Retirement Systems of Alabama now owns 127,189 shares of the company’s stock valued at $9,612,000 after purchasing an additional 412 shares in the last quarter. Finally, Sector Gamma AS lifted its position in Tenet Healthcare by 22.3% in the 4th quarter. Sector Gamma AS now owns 193,279 shares of the company’s stock worth $14,606,000 after buying an additional 35,304 shares in the last quarter. Institutional investors and hedge funds own 95.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on THC. UBS Group boosted their target price on Tenet Healthcare from $137.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Truist Financial reiterated a “buy” rating and issued a $130.00 target price (up from $120.00) on shares of Tenet Healthcare in a research note on Wednesday, May 1st. Wells Fargo & Company raised their target price on shares of Tenet Healthcare from $105.00 to $115.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Tenet Healthcare from $100.00 to $126.00 and gave the company a “buy” rating in a report on Friday, April 12th. Finally, Royal Bank of Canada boosted their price objective on Tenet Healthcare from $109.00 to $136.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 1st. One analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Tenet Healthcare has a consensus rating of “Buy” and a consensus target price of $113.19.

Insider Activity at Tenet Healthcare

In related news, EVP Thomas W. Arnst sold 8,148 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $116.10, for a total value of $945,982.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Tenet Healthcare news, EVP Thomas W. Arnst sold 8,148 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $116.10, for a total transaction of $945,982.80. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Richard W. Fisher sold 2,100 shares of the stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $88.21, for a total transaction of $185,241.00. Following the completion of the sale, the director now owns 20,127 shares in the company, valued at $1,775,402.67. The disclosure for this sale can be found here. Insiders have sold a total of 59,416 shares of company stock worth $5,890,793 over the last 90 days. Insiders own 0.93% of the company’s stock.

Tenet Healthcare Price Performance

Shares of Tenet Healthcare stock opened at $120.28 on Monday. The stock has a market capitalization of $11.75 billion, a price-to-earnings ratio of 4.67, a P/E/G ratio of 1.22 and a beta of 2.09. The company has a current ratio of 1.44, a quick ratio of 1.37 and a debt-to-equity ratio of 2.58. Tenet Healthcare Co. has a 1-year low of $51.04 and a 1-year high of $121.72. The firm’s 50-day moving average price is $100.37 and its two-hundred day moving average price is $82.77.

Tenet Healthcare (NYSE:THC) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $3.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $1.77. The firm had revenue of $5.37 billion during the quarter, compared to the consensus estimate of $5.15 billion. Tenet Healthcare had a return on equity of 26.76% and a net margin of 12.53%. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.42 EPS. On average, equities analysts predict that Tenet Healthcare Co. will post 8.73 earnings per share for the current fiscal year.

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.