Counterpoint Mutual Funds LLC Sells 2,985 Shares of Tenet Healthcare Co. (NYSE:THC)

Counterpoint Mutual Funds LLC lessened its stake in Tenet Healthcare Co. (NYSE:THC) by 38.4% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 4,795 shares of the company’s stock after selling 2,985 shares during the quarter. Counterpoint Mutual Funds LLC’s holdings in Tenet Healthcare were worth $605,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. FMR LLC increased its stake in Tenet Healthcare by 88.0% in the 3rd quarter. FMR LLC now owns 7,700,693 shares of the company’s stock worth $1,279,855,000 after acquiring an additional 3,604,161 shares during the last quarter. Wealthfront Advisers LLC purchased a new stake in Tenet Healthcare during the fourth quarter valued at $69,059,000. Geode Capital Management LLC grew its stake in shares of Tenet Healthcare by 23.6% in the 3rd quarter. Geode Capital Management LLC now owns 2,044,667 shares of the company’s stock worth $339,893,000 after buying an additional 390,316 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Tenet Healthcare in the 4th quarter worth about $49,001,000. Finally, Iron Triangle Partners LP bought a new position in shares of Tenet Healthcare in the 3rd quarter valued at about $51,346,000. 95.44% of the stock is owned by hedge funds and other institutional investors.

Tenet Healthcare Stock Performance

THC stock opened at $122.76 on Monday. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.78 and a quick ratio of 1.70. Tenet Healthcare Co. has a 1-year low of $90.03 and a 1-year high of $171.20. The business has a 50-day moving average price of $132.46 and a 200 day moving average price of $144.49. The company has a market capitalization of $11.68 billion, a P/E ratio of 3.81, a PEG ratio of 1.02 and a beta of 2.06.

Tenet Healthcare (NYSE:THC) last released its quarterly earnings data on Wednesday, February 12th. The company reported $3.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.95 by $0.49. Tenet Healthcare had a net margin of 15.48% and a return on equity of 21.88%. As a group, equities research analysts forecast that Tenet Healthcare Co. will post 12.24 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on THC. Barclays decreased their price objective on Tenet Healthcare from $190.00 to $161.00 and set an “overweight” rating on the stock in a research report on Thursday, February 13th. JPMorgan Chase & Co. restated an “overweight” rating and issued a $175.00 price target on shares of Tenet Healthcare in a research report on Tuesday, December 17th. Wells Fargo & Company downgraded shares of Tenet Healthcare from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $205.00 to $150.00 in a research note on Monday, November 25th. TD Cowen assumed coverage on shares of Tenet Healthcare in a report on Wednesday, February 26th. They set a “buy” rating and a $175.00 price target on the stock. Finally, StockNews.com raised shares of Tenet Healthcare from a “hold” rating to a “buy” rating in a research note on Thursday. Three investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $163.88.

Insider Transactions at Tenet Healthcare

In other Tenet Healthcare news, Director J Robert Kerrey sold 9,525 shares of the business’s stock in a transaction dated 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 transaction, the director now directly owns 27,378 shares in the company, valued at approximately $3,434,022.54. The trade was a 25.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate 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.