Tenet Healthcare Corporation $THC Holdings Lowered by Winslow Asset Management Inc.

Winslow Asset Management Inc. lessened its stake in Tenet Healthcare Corporation (NYSE:THC) by 5.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 120,875 shares of the company’s stock after selling 6,310 shares during the period. Tenet Healthcare accounts for approximately 4.6% of Winslow Asset Management Inc.’s portfolio, making the stock its 4th largest position. Winslow Asset Management Inc. owned approximately 0.14% of Tenet Healthcare worth $24,542,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. ProShare Advisors LLC lifted its stake in Tenet Healthcare by 1.7% in the second quarter. ProShare Advisors LLC now owns 4,118 shares of the company’s stock valued at $725,000 after buying an additional 67 shares during the last quarter. Quadcap Wealth Management LLC lifted its position in Tenet Healthcare by 1.7% during the 2nd quarter. Quadcap Wealth Management LLC now owns 4,099 shares of the company’s stock worth $721,000 after acquiring an additional 69 shares during the period. Andina Capital Management LLC boosted its holdings in Tenet Healthcare by 2.1% in the 3rd quarter. Andina Capital Management LLC now owns 3,360 shares of the company’s stock valued at $682,000 after purchasing an additional 69 shares in the last quarter. Assetmark Inc. boosted its stake in shares of Tenet Healthcare by 0.9% in the second quarter. Assetmark Inc. now owns 8,709 shares of the company’s stock valued at $1,533,000 after buying an additional 76 shares in the last quarter. Finally, MGO One Seven LLC grew its holdings in Tenet Healthcare by 3.8% during the third quarter. MGO One Seven LLC now owns 2,231 shares of the company’s stock worth $453,000 after acquiring an additional 82 shares during the period. 95.44% of the stock is owned by hedge funds and other institutional investors.

Tenet Healthcare Stock Down 4.2%

THC opened at $192.84 on Tuesday. The firm has a market cap of $16.95 billion, a P/E ratio of 13.22, a PEG ratio of 0.85 and a beta of 1.45. The business’s fifty day simple moving average is $198.14 and its 200 day simple moving average is $193.40. Tenet Healthcare Corporation has a 52 week low of $109.82 and a 52 week high of $222.82. The company has a quick ratio of 1.64, a current ratio of 1.71 and a debt-to-equity ratio of 2.27.

Insider Activity

In related news, Director Nadja West sold 2,178 shares of the firm’s stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $197.47, for a total transaction of $430,089.66. Following the sale, the director owned 28,480 shares in the company, valued at approximately $5,623,945.60. This trade represents a 7.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Barclays upped their price target on shares of Tenet Healthcare from $229.00 to $240.00 and gave the stock an “overweight” rating in a research note on Friday, November 21st. Truist Financial reaffirmed a “buy” rating and issued a $240.00 target price (up from $225.00) on shares of Tenet Healthcare in a report on Monday, November 3rd. Weiss Ratings raised Tenet Healthcare from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, December 29th. Guggenheim lifted their price objective on Tenet Healthcare from $238.00 to $257.00 and gave the stock a “buy” rating in a report on Tuesday, December 2nd. Finally, Wells Fargo & Company lowered their target price on Tenet Healthcare from $252.00 to $229.00 and set an “overweight” rating on the stock in a report on Wednesday, January 7th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $233.88.

Tenet Healthcare Profile

Tenet Healthcare Corporation (NYSE: THC) is a diversified American healthcare services company that owns and operates acute care hospitals and a broad range of outpatient facilities. Its portfolio includes general acute-care hospitals, specialty hospitals, ambulatory surgery centers, urgent care and diagnostic imaging centers, and other ancillary service locations. Tenet’s operations are oriented around delivering inpatient and outpatient clinical care across multiple medical specialties, with an emphasis on surgical services, emergency care, and advanced diagnostics.

In addition to facility-based care, Tenet provides integrated services designed to support clinical operations and improve patient access and care coordination.