Federated Hermes Inc. Decreases Stock Holdings in Tenet Healthcare Co. (NYSE:THC)

Federated Hermes Inc. cut its stake in Tenet Healthcare Co. (NYSE:THC) by 25.1% in the fourth quarter, Holdings Channel.com reports. The fund owned 111,081 shares of the company’s stock after selling 37,244 shares during the quarter. Federated Hermes Inc.’s holdings in Tenet Healthcare were worth $8,394,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Sunbelt Securities Inc. purchased a new stake in Tenet Healthcare in the third quarter valued at $67,000. USA Financial Formulas purchased a new stake in Tenet Healthcare in the third quarter valued at $92,000. CWM LLC lifted its position in Tenet Healthcare by 49.8% in the third quarter. CWM LLC now owns 1,443 shares of the company’s stock valued at $95,000 after acquiring an additional 480 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Tenet Healthcare in the third quarter valued at $152,000. Finally, Neo Ivy Capital Management acquired a new position in Tenet Healthcare in the third quarter valued at $155,000. 95.44% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Tenet Healthcare

In other Tenet Healthcare news, EVP Paola M. Arbour sold 18,168 shares of the company’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $96.96, for a total value 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Tenet Healthcare news, EVP Paola M. Arbour sold 18,168 shares of the company’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $96.96, for a total value 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard J. Mark sold 14,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $98.98, for a total transaction of $1,385,720.00. Following the sale, the director now owns 33,303 shares in the company, valued at approximately $3,296,330.94. The disclosure for this sale can be found here. Insiders have sold 51,268 shares of company stock valued at $4,944,810 over the last quarter. Corporate insiders own 0.93% of the company’s stock.

Tenet Healthcare Trading Up 0.4 %

Shares of THC opened at $98.27 on Thursday. 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’s 50-day moving average is $97.96 and its two-hundred day moving average is $80.05. Tenet Healthcare Co. has a twelve month low of $51.04 and a twelve month high of $107.80. The firm has a market capitalization of $9.75 billion, a P/E ratio of 17.21, a PEG ratio of 3.13 and a beta of 2.08.

Tenet Healthcare (NYSE:THC) last announced its quarterly earnings results on Thursday, February 8th. The company reported $2.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $1.10. Tenet Healthcare had a net margin of 2.97% and a return on equity of 26.34%. The company had revenue of $5.38 billion for the quarter, compared to the consensus estimate of $5.28 billion. During the same quarter in the prior year, the firm earned $1.96 earnings per share. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. On average, research analysts predict that Tenet Healthcare Co. will post 6.3 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have commented on THC shares. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Tenet Healthcare from $100.00 to $126.00 and gave the company a “buy” rating in a research note on Friday, April 12th. Mizuho lifted their price objective on shares of Tenet Healthcare from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, February 9th. Truist Financial lifted their price objective on shares of Tenet Healthcare from $92.00 to $105.00 and gave the company a “buy” rating in a research note on Friday, February 9th. Royal Bank of Canada lifted their price objective on shares of Tenet Healthcare from $97.00 to $109.00 and gave the company an “outperform” rating in a research note on Friday, February 9th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $104.00 price target on shares of Tenet Healthcare in a research note on Wednesday, April 10th. One investment analyst has rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $100.38.

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.