Signaturefd LLC Sells 174 Shares of Tenet Healthcare Co. (NYSE:THC)

Signaturefd LLC trimmed its position in shares of Tenet Healthcare Co. (NYSE:THC) by 26.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 480 shares of the company’s stock after selling 174 shares during the quarter. Signaturefd LLC’s holdings in Tenet Healthcare were worth $36,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Xponance Inc. raised its holdings in Tenet Healthcare by 1.2% in the 4th quarter. Xponance Inc. now owns 12,337 shares of the company’s stock worth $932,000 after acquiring an additional 147 shares during the last quarter. Treasurer of the State of North Carolina raised its holdings in Tenet Healthcare by 0.5% in the 3rd quarter. Treasurer of the State of North Carolina now owns 44,328 shares of the company’s stock worth $2,921,000 after acquiring an additional 220 shares during the last quarter. Mariner LLC raised its holdings in Tenet Healthcare by 5.2% in the 3rd quarter. Mariner LLC now owns 6,771 shares of the company’s stock worth $446,000 after acquiring an additional 332 shares during the last quarter. Park Avenue Securities LLC raised its holdings in Tenet Healthcare by 3.3% in the 3rd quarter. Park Avenue Securities LLC now owns 11,893 shares of the company’s stock worth $784,000 after acquiring an additional 384 shares during the last quarter. Finally, Ritholtz Wealth Management raised its holdings in Tenet Healthcare by 5.5% in the 4th quarter. Ritholtz Wealth Management now owns 10,768 shares of the company’s stock worth $814,000 after acquiring an additional 559 shares during the last quarter. 95.44% of the stock is currently owned by hedge funds and other institutional investors.

Tenet Healthcare Trading Up 1.1 %

Shares of THC stock opened at $120.28 on Friday. Tenet Healthcare Co. has a 52-week low of $51.04 and a 52-week high of $121.72. The company has a debt-to-equity ratio of 2.58, a quick ratio of 1.42 and a current ratio of 1.44. The firm has a market capitalization of $11.75 billion, a PE ratio of 4.67, a PEG ratio of 2.63 and a beta of 2.09. The stock has a fifty day simple moving average of $99.82 and a two-hundred day simple moving average of $81.94.

Tenet Healthcare (NYSE:THC) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $3.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.45 by $1.77. Tenet Healthcare had a return on equity of 26.76% and a net margin of 12.53%. The business had revenue of $5.37 billion during the quarter, compared to analyst estimates of $5.15 billion. During the same quarter in the prior year, the business posted $1.42 EPS. Tenet Healthcare’s revenue for the quarter was up 6.9% compared to the same quarter last year. On average, analysts predict that Tenet Healthcare Co. will post 8.89 EPS for the current fiscal year.

Insider Buying and Selling at Tenet Healthcare

In other Tenet Healthcare news, EVP Thomas W. Arnst sold 17,000 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $94.84, for a total transaction of $1,612,280.00. Following the completion of the transaction, the executive vice president now owns 8,148 shares of the company’s stock, valued at approximately $772,756.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Tenet Healthcare news, EVP Thomas W. Arnst sold 17,000 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $94.84, for a total transaction of $1,612,280.00. Following the completion of the transaction, the executive vice president now owns 8,148 shares of the company’s stock, valued at approximately $772,756.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard W. Fisher sold 2,100 shares of the stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $88.21, for a total transaction of $185,241.00. Following the transaction, the director now directly owns 20,127 shares of the company’s stock, valued at approximately $1,775,402.67. The disclosure for this sale can be found here. Insiders sold 59,416 shares of company stock valued at $5,890,793 in the last 90 days. Insiders own 0.93% of the company’s stock.

Analysts Set New Price Targets

THC has been the subject of a number of research analyst reports. Barclays lifted their target price on shares of Tenet Healthcare from $113.00 to $147.00 and gave the stock an “overweight” rating in a research report on Thursday. Mizuho reaffirmed a “buy” rating and issued a $130.00 target price (up previously from $118.00) on shares of Tenet Healthcare in a research report on Wednesday. Truist Financial reaffirmed a “buy” rating and issued a $130.00 target price (up previously from $120.00) on shares of Tenet Healthcare in a research report on Wednesday. StockNews.com raised shares of Tenet Healthcare from a “buy” rating to a “strong-buy” rating in a research report on Thursday. Finally, Royal Bank of Canada lifted their target price on shares of Tenet Healthcare from $109.00 to $136.00 and gave the stock an “outperform” rating in a research report on Wednesday. One analyst has rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $113.19.

Tenet Healthcare 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.