Steamboat Capital Partners LLC Sells 1,278 Shares of Tenet Healthcare Co. (NYSE:THC)

Steamboat Capital Partners LLC decreased its position in Tenet Healthcare Co. (NYSE:THC) by 1.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 89,234 shares of the company’s stock after selling 1,278 shares during the period. Tenet Healthcare makes up 3.5% of Steamboat Capital Partners LLC’s investment portfolio, making the stock its 10th biggest holding. Steamboat Capital Partners LLC’s holdings in Tenet Healthcare were worth $11,264,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Geode Capital Management LLC raised its stake in shares of Tenet Healthcare by 3.5% in the 4th quarter. Geode Capital Management LLC now owns 2,116,121 shares of the company’s stock valued at $268,591,000 after purchasing an additional 71,454 shares during the period. Norges Bank bought a new position in shares of Tenet Healthcare in the 4th quarter valued at about $190,819,000. Dimensional Fund Advisors LP grew its holdings in shares of Tenet Healthcare by 22.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,493,532 shares of the company’s stock valued at $188,524,000 after acquiring an additional 272,906 shares in the last quarter. AQR Capital Management LLC grew its holdings in shares of Tenet Healthcare by 20.8% in the 4th quarter. AQR Capital Management LLC now owns 872,117 shares of the company’s stock valued at $110,087,000 after acquiring an additional 150,361 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Tenet Healthcare by 22.0% in the 4th quarter. Northern Trust Corp now owns 848,049 shares of the company’s stock valued at $107,049,000 after acquiring an additional 152,671 shares in the last quarter. Institutional investors and hedge funds own 95.44% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. UBS Group raised their price objective on Tenet Healthcare from $217.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, April 30th. Bank of America raised their price objective on Tenet Healthcare from $165.00 to $180.00 and gave the company a “buy” rating in a report on Wednesday. Truist Financial lifted their price target on Tenet Healthcare from $175.00 to $190.00 and gave the stock a “buy” rating in a report on Monday, May 12th. TD Cowen initiated coverage on Tenet Healthcare in a report on Wednesday, February 26th. They set a “buy” rating and a $175.00 price target for the company. Finally, Guggenheim initiated coverage on Tenet Healthcare in a report on Wednesday, April 9th. They set a “buy” rating and a $165.00 price target for the company. Four investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, Tenet Healthcare has a consensus rating of “Moderate Buy” and an average target price of $174.94.

Insider Buying and Selling at Tenet Healthcare

In other Tenet Healthcare news, Director J Robert Kerrey sold 5,001 shares of the business’s stock in a transaction that occurred on 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 transaction, the director now directly owns 22,377 shares in the company, valued at $3,322,984.50. The trade was a 18.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Paola M. Arbour sold 6,461 shares of the business’s stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $160.20, for a total transaction of $1,035,052.20. Following the transaction, the executive vice president now owns 27,848 shares of the company’s stock, valued at approximately $4,461,249.60. This represents a 18.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,987 shares of company stock worth $2,972,421 over the last three months. Corporate insiders own 0.81% of the company’s stock.

Tenet Healthcare Trading Up 0.9%

Shares of THC stock opened at $165.55 on Friday. 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 stock has a market cap of $15.38 billion, a P/E ratio of 5.14, a price-to-earnings-growth ratio of 1.02 and a beta of 1.63. The stock has a 50 day simple moving average of $132.78 and a 200 day simple moving average of $136.29. Tenet Healthcare Co. has a 1 year low of $109.82 and a 1 year high of $171.20.

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

Tenet Healthcare Company 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.