Congress Wealth Management LLC DE Has $503,000 Holdings in Tenet Healthcare Co. (NYSE:THC)

Congress Wealth Management LLC DE lessened its holdings in shares of Tenet Healthcare Co. (NYSE:THC) by 62.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 3,985 shares of the company’s stock after selling 6,635 shares during the quarter. Congress Wealth Management LLC DE’s holdings in Tenet Healthcare were worth $503,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in THC. True Wealth Design LLC bought a new position in Tenet Healthcare during the 3rd quarter worth $38,000. WR Wealth Planners LLC increased its position in shares of Tenet Healthcare by 2,836.4% in the fourth quarter. WR Wealth Planners LLC now owns 323 shares of the company’s stock worth $41,000 after purchasing an additional 312 shares during the period. 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 worth $59,000 after purchasing an additional 110 shares during the period. Kestra Investment Management LLC acquired a new stake in Tenet Healthcare during the fourth quarter worth about $60,000. Finally, Wilmington Savings Fund Society FSB raised its position in shares of Tenet Healthcare by 1,352.8% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 523 shares of the company’s stock valued at $66,000 after buying an additional 487 shares in the last quarter. 95.44% of the stock is owned by institutional investors.

Insider Transactions at Tenet Healthcare

In related news, Director J Robert Kerrey sold 9,525 shares of the company’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $125.43, for a total transaction of $1,194,720.75. Following 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.93% of the stock is currently owned by corporate insiders.

Tenet Healthcare Stock Performance

NYSE THC opened at $133.17 on Friday. The company has a market capitalization of $12.67 billion, a price-to-earnings ratio of 4.13, a PEG ratio of 1.02 and a beta of 2.06. Tenet Healthcare Co. has a twelve month low of $90.03 and a twelve month high of $171.20. The stock has a fifty day simple moving average of $132.43 and a 200 day simple moving average of $142.50. The company has a quick ratio of 1.70, a current ratio of 1.78 and a debt-to-equity ratio of 2.25.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $3.44 EPS for the quarter, topping analysts’ consensus estimates of $2.95 by $0.49. Tenet Healthcare had a return on equity of 21.88% and a net margin of 15.48%. Sell-side analysts expect that Tenet Healthcare Co. will post 12.24 EPS for the current year.

Analysts Set New Price Targets

THC has been the topic of a number of recent analyst reports. The Goldman Sachs Group cut shares of Tenet Healthcare from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $196.00 to $140.00 in a research note on Monday, December 16th. JPMorgan Chase & Co. reissued an “overweight” rating and set a $175.00 price target on shares of Tenet Healthcare in a report on Tuesday, December 17th. Truist Financial reduced their price objective on Tenet Healthcare from $190.00 to $175.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. KeyCorp dropped their target price on shares of Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Finally, Morgan Stanley began coverage on shares of Tenet Healthcare in a research report on Wednesday. They set an “overweight” rating and a $165.00 price objective for the company. Three analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $166.41.

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.