ArrowMark Colorado Holdings LLC Sells 29,091 Shares of Tenet Healthcare Co. (NYSE:THC)

ArrowMark Colorado Holdings LLC cut its holdings in shares of Tenet Healthcare Co. (NYSE:THC) by 29.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 70,766 shares of the company’s stock after selling 29,091 shares during the period. ArrowMark Colorado Holdings LLC owned approximately 0.07% of Tenet Healthcare worth $8,933,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of THC. Franklin Resources Inc. grew its stake in shares of Tenet Healthcare by 11.9% in the third quarter. Franklin Resources Inc. now owns 457,704 shares of the company’s stock worth $71,077,000 after acquiring an additional 48,580 shares during the period. B. Riley Wealth Advisors Inc. raised its stake in Tenet Healthcare by 101.3% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 7,894 shares of the company’s stock valued at $1,281,000 after buying an additional 3,973 shares during the last quarter. Nordea Investment Management AB boosted its stake in shares of Tenet Healthcare by 13.5% in the 4th quarter. Nordea Investment Management AB now owns 83,793 shares of the company’s stock worth $10,577,000 after buying an additional 9,946 shares during the last quarter. CWA Asset Management Group LLC bought a new stake in shares of Tenet Healthcare in the fourth quarter worth $1,758,000. Finally, Oliver Luxxe Assets LLC increased its position in Tenet Healthcare by 12.9% during the fourth quarter. Oliver Luxxe Assets LLC now owns 5,628 shares of the company’s stock valued at $710,000 after acquiring an additional 643 shares during the last quarter. Hedge funds and other institutional investors own 95.44% of the company’s stock.

Tenet Healthcare Stock Up 2.0 %

Shares of NYSE THC opened at $148.21 on Friday. The firm has a 50-day simple moving average of $127.09 and a two-hundred day simple moving average of $136.28. Tenet Healthcare Co. has a 1 year low of $109.82 and a 1 year high of $171.20. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.78 and a quick ratio of 1.70. The company has a market cap of $13.99 billion, a P/E ratio of 4.60, a PEG ratio of 1.02 and a beta of 1.77.

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

Insider Buying and Selling at Tenet Healthcare

In other news, Director J Robert Kerrey sold 9,525 shares of the business’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $125.43, for a total value of $1,194,720.75. Following the completion of the transaction, the director now directly owns 27,378 shares of the company’s stock, valued at approximately $3,434,022.54. The trade was a 25.81 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. StockNews.com raised shares of Tenet Healthcare from a “hold” rating to a “buy” rating in a research report on Thursday. TD Cowen assumed coverage on Tenet Healthcare in a research note on Wednesday, February 26th. They issued a “buy” rating and a $175.00 price objective for the company. Barclays raised their target price on shares of Tenet Healthcare from $161.00 to $171.00 and gave the stock an “overweight” rating in a research note on Wednesday. Truist Financial dropped their price objective on Tenet Healthcare from $190.00 to $175.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $177.00 target price on shares of Tenet Healthcare in a research note on Thursday, February 13th. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $172.19.

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.