Sei Investments Co. lowered its holdings in shares of Tenet Healthcare Co. (NYSE:THC) by 4.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 472,472 shares of the company’s stock after selling 20,331 shares during the period. Sei Investments Co.’s holdings in Tenet Healthcare were worth $18,867,000 as of its most recent filing with the SEC.
Several other institutional investors have also bought and sold shares of THC. Camber Capital Management LP acquired a new stake in Tenet Healthcare in the third quarter valued at about $24,510,000. BlackRock Inc. lifted its holdings in shares of Tenet Healthcare by 2.5% in the fourth quarter. BlackRock Inc. now owns 12,191,094 shares of the company’s stock worth $486,790,000 after acquiring an additional 295,744 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Tenet Healthcare by 403.3% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 348,000 shares of the company’s stock valued at $8,529,000 after purchasing an additional 278,850 shares in the last quarter. PFM Health Sciences LP grew its holdings in shares of Tenet Healthcare by 45.4% during the 3rd quarter. PFM Health Sciences LP now owns 841,194 shares of the company’s stock valued at $20,618,000 after purchasing an additional 262,569 shares during the last quarter. Finally, FMR LLC increased its position in Tenet Healthcare by 13.7% during the 1st quarter. FMR LLC now owns 1,785,117 shares of the company’s stock worth $51,483,000 after purchasing an additional 215,600 shares in the last quarter. 93.13% of the stock is owned by institutional investors.
In other Tenet Healthcare news, CEO Ronald A. Rittenmeyer sold 408,526 shares of Tenet Healthcare stock in a transaction on Thursday, December 10th. The shares were sold at an average price of $40.00, for a total value of $16,341,040.00. Following the completion of the sale, the chief executive officer now directly owns 958,494 shares of the company’s stock, valued at $38,339,760. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Paola M. Arbour sold 4,100 shares of the company’s stock in a transaction dated Thursday, December 17th. The shares were sold at an average price of $41.06, for a total transaction of $168,346.00. Following the transaction, the executive vice president now owns 2,626 shares in the company, valued at approximately $107,823.56. The disclosure for this sale can be found here. Insiders have sold 1,699,527 shares of company stock valued at $69,075,186 in the last ninety days. 1.70% of the stock is currently owned by insiders.
THC opened at $50.53 on Tuesday. Tenet Healthcare Co. has a twelve month low of $10.00 and a twelve month high of $52.63. The company has a fifty day moving average of $48.40 and a 200-day moving average of $35.18. The stock has a market cap of $5.33 billion, a PE ratio of -388.69, a price-to-earnings-growth ratio of 8.49 and a beta of 2.66. The company has a quick ratio of 1.28, a current ratio of 1.34 and a debt-to-equity ratio of 29.81.
Tenet Healthcare (NYSE:THC) last issued its quarterly earnings results on Monday, February 8th. The company reported $4.72 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.10 by $3.62. The firm had revenue of $4.92 billion during the quarter, compared to the consensus estimate of $4.89 billion. Tenet Healthcare had a positive return on equity of 82.39% and a negative net margin of 0.07%. The business’s revenue was up 2.3% compared to the same quarter last year. During the same period last year, the business posted $0.99 EPS. Sell-side analysts anticipate that Tenet Healthcare Co. will post 4.27 EPS for the current fiscal year.
A number of research firms have weighed in on THC. Smith Barney Citigroup boosted their target price on shares of Tenet Healthcare from $33.00 to $50.00 in a research note on Friday, December 11th. Raymond James boosted their price objective on Tenet Healthcare from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Thursday, January 14th. Jefferies Financial Group raised Tenet Healthcare from a “hold” rating to a “buy” rating and upped their target price for the stock from $27.00 to $60.00 in a report on Friday, January 8th. Bank of America raised Tenet Healthcare from a “neutral” rating to a “buy” rating and lifted their price target for the company from $45.00 to $50.00 in a research note on Tuesday, January 5th. Finally, Deutsche Bank Aktiengesellschaft raised Tenet Healthcare from a “hold” rating to a “buy” rating in a research note on Tuesday, December 15th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $44.50.
Tenet Healthcare Company Profile
Tenet Healthcare Corporation operates as a diversified healthcare services company. The company operates through three segments: Hospital Operations and Other, Ambulatory Care, and Conifer. Its general hospitals offer acute care services, operating and recovery rooms, radiology and respiratory therapy services, clinical laboratories, and pharmacies.
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