Counterpoint Mutual Funds LLC Sells 2,985 Shares of Tenet Healthcare Co. (NYSE:THC)

Counterpoint Mutual Funds LLC cut its holdings in shares of Tenet Healthcare Co. (NYSE:THC) by 38.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,795 shares of the company’s stock after selling 2,985 shares during the period. Counterpoint Mutual Funds LLC’s holdings in Tenet Healthcare were worth $605,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. True Wealth Design LLC purchased a new position in Tenet Healthcare during the 3rd quarter valued at $38,000. WR Wealth Planners LLC increased its position in shares of Tenet Healthcare by 2,836.4% during the fourth quarter. WR Wealth Planners LLC now owns 323 shares of the company’s stock valued at $41,000 after buying an additional 312 shares during the period. Smartleaf Asset Management LLC lifted its holdings in Tenet Healthcare by 30.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 471 shares of the company’s stock worth $59,000 after buying an additional 110 shares during the period. Kestra Investment Management LLC bought a new stake in Tenet Healthcare during the 4th quarter valued at approximately $60,000. Finally, Wilmington Savings Fund Society FSB raised its position in shares of Tenet Healthcare by 1,352.8% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 523 shares of the company’s stock worth $66,000 after acquiring an additional 487 shares in the last quarter. Institutional investors own 95.44% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on THC shares. Truist Financial reduced their price target on Tenet Healthcare from $190.00 to $175.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. StockNews.com upgraded shares of Tenet Healthcare from a “hold” rating to a “buy” rating in a research note on Thursday. TD Cowen initiated coverage on shares of Tenet Healthcare in a report on Wednesday, February 26th. They issued a “buy” rating and a $175.00 price objective on the stock. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $175.00 target price on shares of Tenet Healthcare in a report on Tuesday, December 17th. Finally, Barclays reduced their price objective on Tenet Healthcare from $190.00 to $161.00 and set an “overweight” rating for the company in a research report on Thursday, February 13th. Three research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Tenet Healthcare currently has an average rating of “Moderate Buy” and a consensus target price of $163.88.

Insider Transactions at Tenet Healthcare

In related news, Director J Robert Kerrey sold 9,525 shares of the stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $125.43, for a total value of $1,194,720.75. Following the completion of the sale, the director now directly owns 27,378 shares of the company’s stock, valued at approximately $3,434,022.54. This represents a 25.81 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.93% of the company’s stock.

Tenet Healthcare Price Performance

NYSE THC opened at $122.76 on Monday. The company has a quick ratio of 1.70, a current ratio of 1.78 and a debt-to-equity ratio of 2.25. The firm has a market capitalization of $11.68 billion, a P/E ratio of 3.81, a PEG ratio of 1.02 and a beta of 2.06. The company has a 50-day moving average price of $132.46 and a 200-day moving average price of $144.49. Tenet Healthcare Co. has a 52 week low of $90.03 and a 52 week high of $171.20.

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

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.