Captrust Financial Advisors Sells 149 Shares of Tenet Healthcare Co. (NYSE:THC)

Captrust Financial Advisors lowered its position in Tenet Healthcare Co. (NYSE:THC) by 5.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,598 shares of the company’s stock after selling 149 shares during the period. Captrust Financial Advisors’ holdings in Tenet Healthcare were worth $328,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of THC. New Wave Wealth Advisors LLC purchased a new stake in shares of Tenet Healthcare in the fourth quarter worth about $343,000. Swedbank AB boosted its position in Tenet Healthcare by 100.0% during the 4th quarter. Swedbank AB now owns 40,000 shares of the company’s stock valued at $5,049,000 after acquiring an additional 20,000 shares in the last quarter. China Universal Asset Management Co. Ltd. acquired a new stake in shares of Tenet Healthcare in the 4th quarter worth $410,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in shares of Tenet Healthcare in the 4th quarter worth $5,892,000. Finally, abrdn plc lifted its position in Tenet Healthcare by 29.0% during the 4th quarter. abrdn plc now owns 98,229 shares of the company’s stock worth $12,320,000 after acquiring an additional 22,066 shares during the period. Institutional investors own 95.44% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on THC shares. Royal Bank of Canada boosted their price objective on Tenet Healthcare from $183.00 to $189.00 and gave the company an “outperform” rating in a report on Wednesday, April 30th. StockNews.com upgraded Tenet Healthcare from a “hold” rating to a “buy” rating in a research report on Thursday, May 1st. Truist Financial upped their price target on Tenet Healthcare from $175.00 to $190.00 and gave the stock a “buy” rating in a research note on Monday, May 12th. Barclays increased their price objective on Tenet Healthcare from $161.00 to $171.00 and gave the company an “overweight” rating in a research note on Wednesday, April 30th. Finally, Guggenheim initiated coverage on Tenet Healthcare in a report on Wednesday, April 9th. They issued a “buy” rating and a $165.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Tenet Healthcare presently has an average rating of “Moderate Buy” and a consensus target price of $174.94.

Insider Activity

In other news, EVP Paola M. Arbour sold 6,461 shares of the company’s stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $160.20, for a total value of $1,035,052.20. Following the sale, the executive vice president now owns 27,848 shares in the company, valued at approximately $4,461,249.60. This represents a 18.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director J Robert Kerrey sold 5,001 shares of the company’s stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $148.50, for a total transaction of $742,648.50. Following the completion of the sale, the director now owns 22,377 shares in the company, valued at approximately $3,322,984.50. This trade represents a 18.27% decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,987 shares of company stock valued at $2,972,421 in the last ninety days. Company insiders own 0.81% of the company’s stock.

Tenet Healthcare Price Performance

THC stock opened at $168.77 on Wednesday. The firm has a 50 day moving average of $134.69 and a 200-day moving average of $136.46. Tenet Healthcare Co. has a 12-month low of $109.82 and a 12-month high of $171.20. The company has a current ratio of 1.78, a quick ratio of 1.70 and a debt-to-equity ratio of 2.25. The company has a market cap of $15.68 billion, a price-to-earnings ratio of 5.24, a PEG ratio of 1.02 and a beta of 1.63.

Tenet Healthcare (NYSE:THC) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $4.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.11 by $1.25. The firm had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $5.15 billion. Tenet Healthcare had a return on equity of 21.88% and a net margin of 15.48%. The company’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.22 EPS. As a group, equities analysts expect that Tenet Healthcare Co. will post 12.24 EPS 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.