AXQ Capital LP Sells 5,412 Shares of Tenet Healthcare Co. (NYSE:THC)

AXQ Capital LP trimmed its holdings in shares of Tenet Healthcare Co. (NYSE:THC) by 75.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,768 shares of the company’s stock after selling 5,412 shares during the quarter. AXQ Capital LP’s holdings in Tenet Healthcare were worth $223,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of THC. Coldstream Capital Management Inc. increased its position in shares of Tenet Healthcare by 2.2% in the third quarter. Coldstream Capital Management Inc. now owns 3,406 shares of the company’s stock worth $566,000 after purchasing an additional 74 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Tenet Healthcare by 9.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 940 shares of the company’s stock valued at $119,000 after buying an additional 80 shares in the last quarter. Spire Wealth Management grew its position in Tenet Healthcare by 19.5% in the fourth quarter. Spire Wealth Management now owns 558 shares of the company’s stock worth $70,000 after acquiring an additional 91 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in Tenet Healthcare by 1.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 8,109 shares of the company’s stock valued at $1,024,000 after acquiring an additional 100 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its stake 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 last quarter. Hedge funds and other institutional investors own 95.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on THC. JPMorgan Chase & Co. reissued an “overweight” rating and set a $175.00 price objective on shares of Tenet Healthcare in a report on Tuesday, December 17th. Barclays cut their price objective on shares of Tenet Healthcare from $190.00 to $161.00 and set an “overweight” rating for the company in a research note on Thursday, February 13th. Wells Fargo & Company cut shares of Tenet Healthcare from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $205.00 to $150.00 in a research report on Monday, November 25th. 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. Finally, The Goldman Sachs Group cut Tenet Healthcare from a “buy” rating to a “neutral” rating and dropped their target price for the company from $196.00 to $140.00 in a report on Monday, December 16th. Three research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Tenet Healthcare has an average rating of “Moderate Buy” and a consensus price target of $163.88.

Insider Activity

In other Tenet Healthcare news, Director J Robert Kerrey sold 9,525 shares of Tenet Healthcare stock in a transaction on 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 completion of the transaction, the director now 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.93% of the company’s stock.

Tenet Healthcare Stock Up 5.4 %

THC stock opened at $129.87 on Tuesday. The company has a market capitalization of $12.35 billion, a price-to-earnings ratio of 4.03, a price-to-earnings-growth ratio of 1.02 and a beta of 2.06. The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.70 and a current ratio of 1.78. The business’s 50 day moving average price is $132.22 and its two-hundred day moving average price is $142.92. Tenet Healthcare Co. has a fifty-two week low of $90.03 and a fifty-two week high of $171.20.

Tenet Healthcare (NYSE:THC) last announced its earnings results on Wednesday, February 12th. The company reported $3.44 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, analysts forecast that Tenet Healthcare Co. will post 12.24 earnings per share for the current fiscal year.

About Tenet Healthcare

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.