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

Oak Associates Ltd. OH decreased its stake in shares of Tenet Healthcare Co. (NYSE:THC) by 9.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in THC. Geode Capital Management LLC raised its stake in shares of Tenet Healthcare by 3.5% during the 4th quarter. Geode Capital Management LLC now owns 2,116,121 shares of the company’s stock worth $268,591,000 after purchasing an additional 71,454 shares in the last quarter. Norges Bank bought a new stake in shares of Tenet Healthcare in the 4th quarter valued at about $190,819,000. Allianz Asset Management GmbH grew its holdings in Tenet Healthcare by 15.1% during the fourth quarter. Allianz Asset Management GmbH now owns 577,143 shares of the company’s stock worth $72,853,000 after purchasing an additional 75,688 shares during the period. Wealthfront Advisers LLC acquired a new position in Tenet Healthcare during the fourth quarter worth approximately $69,059,000. Finally, Victory Capital Management Inc. increased its holdings in shares of Tenet Healthcare by 68.9% during the 4th quarter. Victory Capital Management Inc. now owns 507,055 shares of the company’s stock worth $64,006,000 after acquiring an additional 206,907 shares during the last quarter. 95.44% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director J Robert Kerrey sold 9,525 shares of the business’s stock in a transaction dated 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 sale, the director now directly owns 27,378 shares in the company, 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 document filed with the SEC, which is accessible through the SEC website. 0.93% of the stock is currently owned by corporate insiders.

Tenet Healthcare Stock Performance

NYSE:THC opened at $127.59 on Friday. 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 $12.14 billion, a PE ratio of 3.96, a price-to-earnings-growth ratio of 1.02 and a beta of 1.77. Tenet Healthcare Co. has a twelve month low of $90.03 and a twelve month high of $171.20. The stock’s 50-day simple moving average is $130.18 and its 200 day simple moving average is $139.91.

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

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. StockNews.com upgraded shares of Tenet Healthcare from a “hold” rating to a “buy” rating in a report on Thursday, March 13th. KeyCorp decreased their target price on Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Barclays decreased their price objective on Tenet Healthcare from $190.00 to $161.00 and set an “overweight” rating on the stock in a report on Thursday, February 13th. Truist Financial dropped their target price on Tenet Healthcare from $190.00 to $175.00 and set a “buy” rating for the company in a report on Monday, January 6th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $177.00 price target on shares of Tenet Healthcare in a research report on Thursday, February 13th. Three investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Tenet Healthcare has an average rating of “Moderate Buy” and an average 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.