Sector Gamma AS Lowers Stock Holdings in Tenet Healthcare Co. (NYSE:THC)

Sector Gamma AS trimmed its position in Tenet Healthcare Co. (NYSE:THC) by 16.5% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 22,000 shares of the company’s stock after selling 4,361 shares during the period. Tenet Healthcare comprises approximately 1.0% of Sector Gamma AS’s holdings, making the stock its 27th biggest holding. Sector Gamma AS’s holdings in Tenet Healthcare were worth $2,777,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. New Wave Wealth Advisors LLC purchased a new stake in Tenet Healthcare in the fourth quarter valued at approximately $343,000. Swedbank AB raised its stake in Tenet Healthcare by 100.0% in the fourth quarter. Swedbank AB now owns 40,000 shares of the company’s stock valued at $5,049,000 after purchasing an additional 20,000 shares in the last quarter. Signet Financial Management LLC purchased a new stake in Tenet Healthcare in the fourth quarter valued at approximately $1,526,000. China Universal Asset Management Co. Ltd. purchased a new position in shares of Tenet Healthcare during the fourth quarter worth approximately $410,000. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in shares of Tenet Healthcare during the fourth quarter worth approximately $5,892,000. 95.44% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Tenet Healthcare

In other news, Director J Robert Kerrey sold 9,525 shares of Tenet Healthcare stock in a transaction dated 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 owns 27,378 shares of the company’s stock, valued at $3,434,022.54. The trade was a 25.81 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.93% of the stock is owned by insiders.

Tenet Healthcare Stock Performance

Shares of Tenet Healthcare stock opened at $126.07 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 firm has a market capitalization of $11.99 billion, a P/E ratio of 3.91, a P/E/G ratio of 1.02 and a beta of 2.06. The business has a fifty day simple moving average of $132.31 and a two-hundred day simple moving average of $143.71. Tenet Healthcare Co. has a 12 month low of $90.03 and a 12 month high of $171.20.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $3.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.95 by $0.49. Tenet Healthcare had a return on equity of 21.88% and a net margin of 15.48%. On average, equities analysts forecast that Tenet Healthcare Co. will post 12.24 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have commented on THC shares. The Goldman Sachs Group downgraded shares of Tenet Healthcare from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $196.00 to $140.00 in a research note on Monday, December 16th. JPMorgan Chase & Co. reissued an “overweight” rating and set a $175.00 price target on shares of Tenet Healthcare in a research note on Tuesday, December 17th. Barclays decreased their price target on shares of Tenet Healthcare from $190.00 to $161.00 and set an “overweight” rating on the stock in a research note on Thursday, February 13th. TD Cowen began coverage on shares of Tenet Healthcare in a report on Wednesday, February 26th. They issued a “buy” rating and a $175.00 target price on the stock. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $177.00 target price on shares of Tenet Healthcare in a report on Thursday, February 13th. Three investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $163.88.

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.