Quadcap Wealth Management LLC Sells 356 Shares of Tenet Healthcare Co. (NYSE:THC)

Quadcap Wealth Management LLC reduced its position in Tenet Healthcare Co. (NYSE:THC) by 8.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,062 shares of the company’s stock after selling 356 shares during the quarter. Quadcap Wealth Management LLC’s holdings in Tenet Healthcare were worth $513,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC increased its position in Tenet Healthcare by 1.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 8,109 shares of the company’s stock worth $1,024,000 after purchasing an additional 100 shares in the last quarter. 180 Wealth Advisors LLC increased its position in Tenet Healthcare by 5.1% during the 4th quarter. 180 Wealth Advisors LLC now owns 2,414 shares of the company’s stock worth $305,000 after purchasing an additional 117 shares in the last quarter. Assenagon Asset Management S.A. increased its position in Tenet Healthcare by 60.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 253,931 shares of the company’s stock worth $32,054,000 after purchasing an additional 96,106 shares in the last quarter. Park Avenue Securities LLC increased its position in Tenet Healthcare by 14.9% during the 4th quarter. Park Avenue Securities LLC now owns 14,190 shares of the company’s stock worth $1,791,000 after purchasing an additional 1,837 shares in the last quarter. Finally, Hennessy Advisors Inc. increased its position in Tenet Healthcare by 6.8% during the 4th quarter. Hennessy Advisors Inc. now owns 96,800 shares of the company’s stock worth $12,219,000 after purchasing an additional 6,200 shares in the last quarter. 95.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on THC. UBS Group upped their price target on shares of Tenet Healthcare from $217.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, April 30th. Guggenheim began coverage on shares of Tenet Healthcare in a research report on Wednesday, April 9th. They issued a “buy” rating and a $165.00 price target for the company. Bank of America upped their price target on shares of Tenet Healthcare from $165.00 to $180.00 and gave the company a “buy” rating in a research report on Wednesday. Truist Financial upped their price objective on shares of Tenet Healthcare from $175.00 to $190.00 and gave the company a “buy” rating in a research note on Monday. Finally, Morgan Stanley upped their price objective on shares of Tenet Healthcare from $165.00 to $175.00 and gave the company an “overweight” rating in a research note on Monday, May 5th. Four research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, Tenet Healthcare currently has a consensus rating of “Moderate Buy” and a consensus target price of $174.94.

Insider Transactions at Tenet Healthcare

In other Tenet Healthcare news, Director J Robert Kerrey sold 5,001 shares of Tenet Healthcare stock in a transaction on Friday, May 9th. The shares were sold at an average price of $148.50, for a total transaction of $742,648.50. Following the sale, the director now owns 22,377 shares of the company’s stock, valued at $3,322,984.50. The trade was a 18.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.81% of the company’s stock.

Tenet Healthcare Price Performance

Tenet Healthcare stock opened at $163.96 on Friday. 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 Co. has a 52-week low of $109.82 and a 52-week high of $171.20. The company has a market cap of $15.23 billion, a price-to-earnings ratio of 5.09, a PEG ratio of 1.02 and a beta of 1.63. The firm’s fifty day moving average is $131.99 and its 200 day moving average is $136.42.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $4.36 EPS for the quarter, topping analysts’ consensus estimates of $3.11 by $1.25. The firm had revenue of $5.22 billion for the quarter, compared to analysts’ expectations of $5.15 billion. Tenet Healthcare had a net margin of 15.48% and a return on equity of 21.88%. The business’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same period in the prior year, the business posted $3.22 earnings per share. Sell-side analysts forecast that Tenet Healthcare Co. will post 12.24 EPS 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.