Caxton Associates LP Trims Stock Holdings in Tenet Healthcare Co. (NYSE:THC)

Caxton Associates LP reduced its holdings in shares of Tenet Healthcare Co. (NYSE:THC) by 81.6% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 3,123 shares of the company’s stock after selling 13,882 shares during the period. Caxton Associates LP’s holdings in Tenet Healthcare were worth $394,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. GeoWealth Management LLC boosted its stake in Tenet Healthcare by 39.8% during the 4th quarter. GeoWealth Management LLC now owns 295 shares of the company’s stock valued at $37,000 after acquiring an additional 84 shares during the last quarter. WR Wealth Planners LLC lifted 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 worth $41,000 after purchasing an additional 312 shares during the last quarter. Smartleaf Asset Management LLC increased 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 valued at $59,000 after buying an additional 110 shares during the last quarter. Kestra Investment Management LLC acquired a new stake in Tenet Healthcare during the fourth quarter valued at approximately $60,000. Finally, Wilmington Savings Fund Society FSB grew 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 and hedge funds own 95.44% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. The Goldman Sachs Group lifted their price objective on shares of Tenet Healthcare from $134.00 to $154.00 and gave the stock a “neutral” rating in a report on Monday. Robert W. Baird reiterated a “neutral” rating and set a $137.00 price objective (down previously from $153.00) on shares of Tenet Healthcare in a research note on Tuesday, April 15th. UBS Group lifted their target price on Tenet Healthcare from $217.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday, April 30th. Barclays raised their price target on Tenet Healthcare from $161.00 to $171.00 and gave the stock an “overweight” rating in a report on Wednesday, April 30th. Finally, StockNews.com raised Tenet Healthcare from a “hold” rating to a “buy” rating in a research report on Thursday, May 1st. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $173.69.

Insiders Place Their Bets

In related news, Director J Robert Kerrey sold 9,525 shares of the company’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $125.43, for a total transaction of $1,194,720.75. Following the transaction, the director now directly owns 27,378 shares of the company’s stock, valued at approximately $3,434,022.54. The trade was a 25.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.81% of the company’s stock.

Tenet Healthcare Price Performance

Shares of Tenet Healthcare stock opened at $152.16 on Thursday. The company’s 50-day moving average price is $128.37 and its two-hundred day moving average price is $136.22. The stock has a market cap of $14.13 billion, a PE ratio of 4.72, a price-to-earnings-growth ratio of 1.02 and a beta of 1.63. The company has a current ratio of 1.78, a quick ratio of 1.70 and a debt-to-equity ratio of 2.25. Tenet Healthcare Co. has a 52 week low of $109.82 and a 52 week high of $171.20.

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