Cerity Partners LLC Sells 6,228 Shares of Tenet Healthcare Co. (NYSE:THC)

Cerity Partners LLC trimmed its position in shares of Tenet Healthcare Co. (NYSE:THC) by 56.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,814 shares of the company’s stock after selling 6,228 shares during the quarter. Cerity Partners LLC’s holdings in Tenet Healthcare were worth $364,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. Treasurer of the State of North Carolina grew its stake in shares of Tenet Healthcare by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 44,328 shares of the company’s stock valued at $2,921,000 after purchasing an additional 220 shares during the last quarter. Mariner LLC grew its stake in shares of Tenet Healthcare by 5.2% during the third quarter. Mariner LLC now owns 6,771 shares of the company’s stock valued at $446,000 after purchasing an additional 332 shares during the last quarter. Park Avenue Securities LLC grew its stake in shares of Tenet Healthcare by 3.3% during the third quarter. Park Avenue Securities LLC now owns 11,893 shares of the company’s stock valued at $784,000 after purchasing an additional 384 shares during the last quarter. CWM LLC grew its stake in shares of Tenet Healthcare by 49.8% during the third quarter. CWM LLC now owns 1,443 shares of the company’s stock valued at $95,000 after purchasing an additional 480 shares during the last quarter. Finally, Ritholtz Wealth Management grew its stake in shares of Tenet Healthcare by 5.5% during the fourth quarter. Ritholtz Wealth Management now owns 10,768 shares of the company’s stock valued at $814,000 after purchasing an additional 559 shares during the last quarter. 95.44% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

THC has been the topic of several research analyst reports. Truist Financial increased their price target 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. TheStreet raised shares of Tenet Healthcare from a “c+” rating to a “b-” rating in a research note on Tuesday, February 6th. Royal Bank of Canada raised 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. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $104.00 price objective on shares of Tenet Healthcare in a research note on Wednesday, April 10th. Finally, Wells Fargo & Company raised their price objective on shares of Tenet Healthcare from $105.00 to $115.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. One investment analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Tenet Healthcare currently has an average rating of “Buy” and a consensus target price of $100.38.

Tenet Healthcare Trading Down 1.4 %

Shares of NYSE:THC opened at $96.13 on Friday. Tenet Healthcare Co. has a 12 month low of $51.04 and a 12 month high of $107.80. The company has a quick ratio of 1.42, a current ratio of 1.51 and a debt-to-equity ratio of 4.77. The company’s fifty day simple moving average is $98.22 and its 200 day simple moving average is $80.42. The firm has a market cap of $9.53 billion, a price-to-earnings ratio of 16.84, a PEG ratio of 3.15 and a beta of 2.08.

Tenet Healthcare (NYSE:THC) last issued its quarterly earnings data on Thursday, February 8th. The company reported $2.68 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $1.10. Tenet Healthcare had a net margin of 2.97% and a return on equity of 26.34%. The business had revenue of $5.38 billion for the quarter, compared to analyst estimates of $5.28 billion. During the same period last year, the business posted $1.96 earnings per share. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. As a group, research analysts forecast that Tenet Healthcare Co. will post 6.3 EPS for the current fiscal year.

Insider Buying and Selling

In other Tenet Healthcare news, Director Richard W. Fisher sold 2,100 shares of Tenet Healthcare stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $88.21, for a total value of $185,241.00. Following the sale, the director now directly owns 20,127 shares in the company, valued at approximately $1,775,402.67. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Richard J. Mark sold 14,000 shares of Tenet Healthcare stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $98.98, for a total value of $1,385,720.00. Following the completion of the transaction, the director now owns 33,303 shares of the company’s stock, valued at approximately $3,296,330.94. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Richard W. Fisher sold 2,100 shares of Tenet Healthcare stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $88.21, for a total transaction of $185,241.00. Following the sale, the director now directly owns 20,127 shares of the company’s stock, valued at approximately $1,775,402.67. The disclosure for this sale can be found here. Insiders have sold a total of 51,268 shares of company stock worth $4,944,810 over the last ninety days. Company insiders own 0.93% of the company’s stock.

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.