Oak Associates Ltd. OH Sells 350 Shares of Tenet Healthcare Co. (NYSE:THC)

Oak Associates Ltd. OH reduced its holdings in shares of Tenet Healthcare Co. (NYSE:THC) by 9.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,350 shares of the company’s stock after selling 350 shares during the period. Oak Associates Ltd. OH’s holdings in Tenet Healthcare were worth $423,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. WR Wealth Planners LLC boosted its stake in 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 acquiring an additional 312 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in shares of Tenet Healthcare by 30.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 471 shares of the company’s stock worth $59,000 after purchasing an additional 110 shares in the last quarter. Kestra Investment Management LLC bought a new stake in Tenet Healthcare in the 4th quarter valued at about $60,000. Wilmington Savings Fund Society FSB raised its stake in Tenet Healthcare by 1,352.8% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 523 shares of the company’s stock worth $66,000 after buying an additional 487 shares during the period. Finally, Spire Wealth Management grew its position in Tenet Healthcare by 19.5% in the 4th quarter. Spire Wealth Management now owns 558 shares of the company’s stock valued at $70,000 after purchasing an additional 91 shares during the period. Institutional investors own 95.44% of the company’s stock.

Tenet Healthcare Stock Performance

NYSE THC opened at $127.59 on Friday. The company’s 50 day moving average is $130.18 and its 200-day moving average is $139.91. The firm has a market cap of $12.14 billion, a P/E ratio of 3.96, a price-to-earnings-growth ratio of 1.02 and a beta of 1.77. Tenet Healthcare Co. has a 12-month low of $90.03 and a 12-month high of $171.20. The company has a quick ratio of 1.70, a current ratio of 1.78 and a debt-to-equity ratio of 2.25.

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

Insider Activity

In other Tenet Healthcare 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 sale, the director now directly owns 27,378 shares in the company, valued at $3,434,022.54. This represents a 25.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on THC. Barclays dropped their price objective 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 assumed coverage on shares of Tenet Healthcare in a research report on Wednesday, February 26th. They issued a “buy” rating and a $175.00 price target on the stock. The Goldman Sachs Group lowered Tenet Healthcare from a “buy” rating to a “neutral” rating and dropped their target price for the company from $196.00 to $140.00 in a report on Monday, December 16th. Truist Financial dropped their price objective 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. Finally, JPMorgan Chase & Co. reissued an “overweight” rating and set a $175.00 price target on shares of Tenet Healthcare in a research report on Tuesday, December 17th. Three research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $166.33.

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.