Tenet Healthcare Co. (NYSE:THC) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. reduced its stake in Tenet Healthcare Co. (NYSE:THC) by 49.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 400,338 shares of the company’s stock after selling 384,922 shares during the quarter. Victory Capital Management Inc. owned about 0.39% of Tenet Healthcare worth $30,254,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. GAMMA Investing LLC acquired a new stake in shares of Tenet Healthcare during the 4th quarter worth about $52,000. Sunbelt Securities Inc. purchased a new stake in Tenet Healthcare in the 3rd quarter worth approximately $67,000. USA Financial Formulas acquired a new position in Tenet Healthcare in the 3rd quarter valued at $92,000. SG Americas Securities LLC acquired a new stake in shares of Tenet Healthcare during the third quarter worth $152,000. Finally, Neo Ivy Capital Management acquired a new position in Tenet Healthcare in the third quarter valued at $155,000. Institutional investors and hedge funds own 95.44% of the company’s stock.

Insider Transactions at Tenet Healthcare

In other Tenet Healthcare news, EVP Thomas W. Arnst sold 8,148 shares of the stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $116.10, for a total transaction of $945,982.80. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, EVP Thomas W. Arnst sold 8,148 shares of the business’s stock in a transaction dated Wednesday, May 1st. The stock was 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 Securities & Exchange Commission, which is available through this link. Also, EVP Paola M. Arbour sold 18,168 shares of Tenet Healthcare stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $96.96, for a total value of $1,761,569.28. Following the completion of the transaction, the executive vice president now owns 29,803 shares of the company’s stock, valued at approximately $2,889,698.88. The disclosure for this sale can be found here. Over the last quarter, insiders sold 59,416 shares of company stock valued at $5,890,793. 0.93% of the stock is currently owned by corporate insiders.

Tenet Healthcare Price Performance

THC opened at $124.10 on Wednesday. Tenet Healthcare Co. has a twelve month low of $51.04 and a twelve month high of $124.92. The company has a current ratio of 1.44, a quick ratio of 1.37 and a debt-to-equity ratio of 2.58. The firm has a market cap of $12.12 billion, a price-to-earnings ratio of 4.82, a PEG ratio of 1.22 and a beta of 2.09. The company has a fifty day simple moving average of $101.66 and a 200 day simple moving average of $83.73.

Tenet Healthcare (NYSE:THC) last released its quarterly earnings results on Tuesday, April 30th. The company reported $3.22 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $5.15 billion. During the same quarter in the previous year, the firm posted $1.42 earnings per share. The company’s revenue was up 6.9% compared to the same quarter last year. Equities research analysts expect that Tenet Healthcare Co. will post 8.73 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on THC. StockNews.com raised Tenet Healthcare from a “buy” rating to a “strong-buy” rating in a research note on Thursday, May 2nd. Stephens increased their price target on shares of Tenet Healthcare from $95.00 to $122.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 1st. TheStreet raised shares of Tenet Healthcare from a “c+” rating to a “b-” rating in a research note on Tuesday, February 6th. Truist Financial reaffirmed a “buy” rating and issued a $130.00 target price (up from $120.00) on shares of Tenet Healthcare in a research report on Wednesday, May 1st. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $104.00 price target on shares of Tenet Healthcare in a research note on Wednesday, April 10th. One investment analyst has rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target 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.