Kestrel Investment Management Corp Has $6.85 Million Position in Tenet Healthcare Co. (NYSE:THC)

Kestrel Investment Management Corp trimmed its stake in Tenet Healthcare Co. (NYSE:THC) by 16.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 90,600 shares of the company’s stock after selling 17,600 shares during the quarter. Tenet Healthcare makes up about 4.6% of Kestrel Investment Management Corp’s portfolio, making the stock its 5th biggest holding. Kestrel Investment Management Corp’s holdings in Tenet Healthcare were worth $6,847,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of the stock. BlackRock Inc. boosted its stake in shares of Tenet Healthcare by 14.7% during the 1st quarter. BlackRock Inc. now owns 11,639,373 shares of the company’s stock worth $691,612,000 after acquiring an additional 1,491,799 shares during the period. Norges Bank bought a new position in shares of Tenet Healthcare during the 4th quarter worth approximately $65,580,000. Stonehill Capital Management LLC bought a new position in shares of Tenet Healthcare during the 4th quarter worth approximately $20,947,000. Goldman Sachs Group Inc. boosted its stake in shares of Tenet Healthcare by 23.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,180,627 shares of the company’s stock worth $187,446,000 after acquiring an additional 415,945 shares during the period. Finally, BW Gestao de Investimentos Ltda. boosted its stake in Tenet Healthcare by 288.4% in the 3rd quarter. BW Gestao de Investimentos Ltda. now owns 468,871 shares of the company’s stock valued at $30,894,000 after purchasing an additional 348,151 shares during the period. 95.44% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Richard W. Fisher sold 2,100 shares of the business’s stock in a transaction on 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 owns 20,127 shares in the company, valued at approximately $1,775,402.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Richard W. Fisher sold 2,100 shares of the business’s stock in a transaction on 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 owns 20,127 shares in the company, valued at approximately $1,775,402.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Paola M. Arbour sold 18,168 shares of the business’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $96.96, for a total value of $1,761,569.28. Following the sale, the executive vice president now owns 29,803 shares in the company, valued at approximately $2,889,698.88. The disclosure for this sale can be found here. Insiders have sold 51,268 shares of company stock worth $4,944,810 in the last 90 days. Insiders own 1.30% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on THC shares. Royal Bank of Canada boosted their price target on Tenet Healthcare from $97.00 to $109.00 and gave the company an “outperform” rating in a research note on Friday, February 9th. Deutsche Bank Aktiengesellschaft boosted their price target on Tenet Healthcare from $100.00 to $126.00 and gave the company a “buy” rating in a research note on Friday, April 12th. Wells Fargo & Company boosted their price target on Tenet Healthcare from $105.00 to $115.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Truist Financial boosted their price target on Tenet Healthcare from $92.00 to $105.00 and gave the company a “buy” rating in a research note on Friday, February 9th. Finally, Barclays assumed coverage on Tenet Healthcare in a report on Wednesday, March 6th. They issued an “overweight” rating and a $113.00 price objective for the company. One research analyst has rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Tenet Healthcare currently has a consensus rating of “Buy” and an average target price of $100.38.

Tenet Healthcare Price Performance

Shares of Tenet Healthcare stock traded up $2.15 during trading on Friday, reaching $93.23. 1,127,370 shares of the company’s stock were exchanged, compared to its average volume of 1,133,102. The company has a debt-to-equity ratio of 4.77, a quick ratio of 1.42 and a current ratio of 1.51. Tenet Healthcare Co. has a 1-year low of $51.04 and a 1-year high of $107.80. The company has a market cap of $9.25 billion, a P/E ratio of 16.33, a PEG ratio of 3.08 and a beta of 2.08. The firm’s 50-day moving average price is $97.47 and its 200 day moving average price is $79.19.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings results 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 return on equity of 26.34% and a net margin of 2.97%. The company had revenue of $5.38 billion during the quarter, compared to analysts’ expectations of $5.28 billion. During the same quarter in the previous year, the firm earned $1.96 EPS. Tenet Healthcare’s revenue was up 7.8% on a year-over-year basis. As a group, research analysts anticipate that Tenet Healthcare Co. will post 6.3 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.