Congress Park Capital LLC Decreases Holdings in Tenet Healthcare Co. (NYSE:THC)

Congress Park Capital LLC trimmed its holdings in shares of Tenet Healthcare Co. (NYSE:THCFree Report) by 2.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 18,331 shares of the company’s stock after selling 370 shares during the period. Congress Park Capital LLC’s holdings in Tenet Healthcare were worth $1,385,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Marshall Wace LLP boosted its position in Tenet Healthcare by 259.1% in the 2nd quarter. Marshall Wace LLP now owns 2,281,465 shares of the company’s stock valued at $185,666,000 after buying an additional 1,646,137 shares during the last quarter. BlackRock Inc. boosted its position in Tenet Healthcare by 14.7% in the 1st quarter. BlackRock Inc. now owns 11,639,373 shares of the company’s stock valued at $691,612,000 after buying an additional 1,491,799 shares during the last quarter. Norges Bank purchased a new position in Tenet Healthcare in the 4th quarter valued at about $65,580,000. Junto Capital Management LP bought a new position in shares of Tenet Healthcare during the second quarter worth about $35,040,000. Finally, Stonehill Capital Management LLC bought a new position in shares of Tenet Healthcare during the fourth quarter worth about $20,947,000. 95.44% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Richard W. Fisher sold 2,100 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $88.21, for a total transaction of $185,241.00. Following the completion of the sale, the director now directly owns 20,127 shares in the company, valued at $1,775,402.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Richard W. Fisher sold 2,100 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $88.21, for a total transaction of $185,241.00. Following the completion of the sale, the director now directly owns 20,127 shares in the company, valued at $1,775,402.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Paola M. Arbour sold 18,168 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $96.96, for a total transaction of $1,761,569.28. Following the sale, the executive vice president now owns 29,803 shares of the company’s stock, valued at $2,889,698.88. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 51,268 shares of company stock worth $4,944,810. Corporate insiders own 1.70% of the company’s stock.

Tenet Healthcare Price Performance

Shares of NYSE:THC opened at $105.11 on Monday. Tenet Healthcare Co. has a 52 week low of $51.04 and a 52 week high of $107.80. The company has a current ratio of 1.51, a quick ratio of 1.42 and a debt-to-equity ratio of 4.77. The firm has a market capitalization of $10.51 billion, a P/E ratio of 18.41, a PEG ratio of 3.29 and a beta of 2.08. The firm’s 50 day moving average is $93.07 and its two-hundred day moving average is $76.00.

Tenet Healthcare (NYSE:THCGet Free Report) last posted its quarterly earnings data on Thursday, February 8th. The company reported $2.68 EPS for the quarter, beating analysts’ consensus estimates of $1.58 by $1.10. Tenet Healthcare had a net margin of 2.97% and a return on equity of 26.34%. The business had revenue of $5.38 billion for the quarter, compared to analyst estimates of $5.28 billion. During the same quarter last year, the business earned $1.96 earnings per share. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. Analysts anticipate that Tenet Healthcare Co. will post 6.09 earnings per share for the current year.

Analysts Set New Price Targets

THC has been the topic of several research analyst reports. StockNews.com raised shares of Tenet Healthcare from a “hold” rating to a “buy” rating in a research report on Saturday, December 16th. Wells Fargo & Company increased their price target on shares of Tenet Healthcare from $105.00 to $115.00 and gave the stock an “overweight” rating in a research report on Thursday. Royal Bank of Canada increased their price target on shares of Tenet Healthcare from $97.00 to $109.00 and gave the stock an “outperform” rating in a research report on Friday, February 9th. Truist Financial increased their price objective on shares of Tenet Healthcare from $92.00 to $105.00 and gave the stock a “buy” rating in a research note on Friday, February 9th. Finally, Wolfe Research upgraded shares of Tenet Healthcare from a “peer perform” rating to an “outperform” rating and set a $122.00 price objective on the stock in a research note on Wednesday, March 27th. One equities research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Tenet Healthcare currently has a consensus rating of “Buy” and an average price target of $97.56.

View Our Latest Analysis on THC

About Tenet Healthcare

(Free Report)

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.

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Institutional Ownership by Quarter for Tenet Healthcare (NYSE:THC)

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