Atria Investments Inc Sells 484 Shares of Tenet Healthcare Co. (NYSE:THC)

Atria Investments Inc reduced its stake in Tenet Healthcare Co. (NYSE:THC) by 12.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,387 shares of the company’s stock after selling 484 shares during the period. Atria Investments Inc’s holdings in Tenet Healthcare were worth $428,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. True Wealth Design LLC bought a new position in shares of Tenet Healthcare during the third quarter valued at approximately $38,000. WR Wealth Planners LLC lifted its position in Tenet Healthcare by 2,836.4% during the fourth quarter. WR Wealth Planners LLC now owns 323 shares of the company’s stock valued at $41,000 after acquiring an additional 312 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in Tenet Healthcare by 30.5% during the fourth 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 purchased a new stake in Tenet Healthcare during the fourth quarter valued at approximately $60,000. Finally, Wilmington Savings Fund Society FSB lifted its position in Tenet Healthcare by 1,352.8% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 523 shares of the company’s stock valued at $66,000 after acquiring an additional 487 shares during the last quarter. 95.44% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on THC. Wells Fargo & Company cut shares of Tenet Healthcare from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $205.00 to $150.00 in a report on Monday, November 25th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $175.00 price target on shares of Tenet Healthcare in a report on Tuesday, December 17th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $177.00 price target on shares of Tenet Healthcare in a report on Thursday, February 13th. StockNews.com raised shares of Tenet Healthcare from a “hold” rating to a “buy” rating in a report on Thursday. Finally, Raymond James cut shares of Tenet Healthcare from a “strong-buy” rating to an “outperform” rating and set a $195.00 target price for the company. in a report on Friday, November 22nd. Three investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $163.88.

Tenet Healthcare Trading Up 2.7 %

Shares of THC stock opened at $122.76 on Monday. 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 has a market capitalization of $11.68 billion, a P/E ratio of 3.81, a price-to-earnings-growth ratio of 1.02 and a beta of 2.06. The company has a 50 day moving average price of $132.46 and a 200 day moving average price of $144.49. Tenet Healthcare Co. has a fifty-two week low of $90.03 and a fifty-two week high of $171.20.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $3.44 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%. Equities research analysts predict that Tenet Healthcare Co. will post 12.24 EPS for the current fiscal year.

Insider Activity

In related news, Director J Robert Kerrey sold 9,525 shares of the company’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $125.43, for a total value of $1,194,720.75. Following the completion of the sale, the director now owns 27,378 shares in the company, valued at $3,434,022.54. This represents a 25.81 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.93% of the company’s stock.

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.