Yousif Capital Management LLC Sells 812 Shares of Tenet Healthcare Co. (NYSE:THC)

Yousif Capital Management LLC lowered its holdings in shares of Tenet Healthcare Co. (NYSE:THC) by 2.7% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 29,102 shares of the company’s stock after selling 812 shares during the period. Yousif Capital Management LLC’s holdings in Tenet Healthcare were worth $3,914,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in Tenet Healthcare during the fourth quarter worth about $5,892,000. Asset Management One Co. Ltd. lifted its position in Tenet Healthcare by 541.3% during the fourth quarter. Asset Management One Co. Ltd. now owns 9,478 shares of the company’s stock worth $1,213,000 after acquiring an additional 8,000 shares during the last quarter. Truist Financial Corp lifted its position in Tenet Healthcare by 1.6% during the fourth quarter. Truist Financial Corp now owns 12,407 shares of the company’s stock worth $1,566,000 after acquiring an additional 198 shares during the last quarter. Alberta Investment Management Corp lifted its position in Tenet Healthcare by 212.5% during the fourth quarter. Alberta Investment Management Corp now owns 25,000 shares of the company’s stock worth $3,156,000 after acquiring an additional 17,000 shares during the last quarter. Finally, LPL Financial LLC lifted its position in Tenet Healthcare by 40.6% during the fourth quarter. LPL Financial LLC now owns 67,136 shares of the company’s stock worth $8,475,000 after acquiring an additional 19,389 shares during the last quarter. Institutional investors own 95.44% of the company’s stock.

Insider Activity at Tenet Healthcare

In related news, Director Richard W. Fisher sold 836 shares of the business’s stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $173.16, for a total value of $144,761.76. Following the transaction, the director now owns 11,292 shares in the company, valued at $1,955,322.72. The trade was a 6.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 transaction, the director now owns 22,377 shares in the company, valued at $3,322,984.50. This represents a 18.27% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 54,121 shares of company stock worth $8,846,305 over the last quarter. Company insiders own 0.81% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on THC. Barclays raised their price objective on shares of Tenet Healthcare from $171.00 to $215.00 and gave the stock an “overweight” rating in a research report on Monday, June 2nd. Stephens upgraded shares of Tenet Healthcare to a “strong-buy” rating in a research report on Monday, June 2nd. Cantor Fitzgerald restated an “overweight” rating and set a $177.00 price objective on shares of Tenet Healthcare in a research report on Thursday, February 13th. Baird R W downgraded shares of Tenet Healthcare from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 15th. Finally, Truist Financial lifted their price target on shares of Tenet Healthcare from $175.00 to $190.00 and gave the company a “buy” rating in a research report on Monday, May 12th. Four research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $182.24.

Tenet Healthcare Stock Performance

NYSE THC opened at $165.38 on Friday. The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.70 and a current ratio of 1.78. Tenet Healthcare Co. has a fifty-two week low of $109.82 and a fifty-two week high of $174.14. The stock has a market cap of $15.36 billion, a PE ratio of 5.13, a PEG ratio of 1.02 and a beta of 1.65. The firm’s fifty day moving average price is $147.19 and its two-hundred day moving average price is $137.52.

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

Tenet Healthcare 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.