Adage Capital Partners GP L.L.C. Reduces Holdings in Tenet Healthcare Co. (NYSE:THC)

Adage Capital Partners GP L.L.C. lowered its stake in Tenet Healthcare Co. (NYSE:THC - Free Report) by 28.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 222,215 shares of the company's stock after selling 86,794 shares during the period. Adage Capital Partners GP L.L.C. owned 0.23% of Tenet Healthcare worth $28,050,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Geode Capital Management LLC grew its holdings in 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 acquiring an additional 71,454 shares during the last quarter. Norges Bank bought a new stake in shares of Tenet Healthcare in the fourth quarter worth $190,819,000. Dimensional Fund Advisors LP raised its position in Tenet Healthcare by 22.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,493,532 shares of the company's stock worth $188,524,000 after purchasing an additional 272,906 shares during the last quarter. Allianz Asset Management GmbH lifted its holdings in Tenet Healthcare by 15.1% during the 4th quarter. Allianz Asset Management GmbH now owns 577,143 shares of the company's stock worth $72,853,000 after buying an additional 75,688 shares during the period. Finally, Wealthfront Advisers LLC acquired a new stake in shares of Tenet Healthcare in the fourth quarter valued at about $69,059,000. Institutional investors and hedge funds own 95.44% of the company's stock.

Insider Activity

In other Tenet Healthcare 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 value of $1,194,720.75. Following the completion of the transaction, the director now owns 27,378 shares in the company, valued at $3,434,022.54. This represents a 25.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.81% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

THC has been the topic of several analyst reports. Baird R W cut Tenet Healthcare from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 15th. KeyCorp lowered their target price on shares of Tenet Healthcare from $200.00 to $185.00 and set an "overweight" rating for the company in a research note on Tuesday, January 7th. TD Cowen started coverage on shares of Tenet Healthcare in a research report on Wednesday, February 26th. They set a "buy" rating and a $175.00 price target on the stock. Barclays dropped their price objective on Tenet Healthcare from $190.00 to $161.00 and set an "overweight" rating on the stock in a research note on Thursday, February 13th. Finally, Guggenheim started coverage on Tenet Healthcare in a research note on Wednesday, April 9th. They set a "buy" rating and a $165.00 target price for the company. Five investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Tenet Healthcare has a consensus rating of "Moderate Buy" and a consensus target price of $165.44.

Tenet Healthcare Stock Up 11.3 %

Shares of THC stock traded up $14.03 during trading hours on Tuesday, reaching $137.94. The company had a trading volume of 3,455,289 shares, compared to its average volume of 1,543,137. The business has a fifty day simple moving average of $126.27 and a 200-day simple moving average of $136.57. Tenet Healthcare Co. has a 12 month low of $104.06 and a 12 month high of $171.20. The company has a market cap of $13.02 billion, a price-to-earnings ratio of 4.28, a price-to-earnings-growth ratio of 1.02 and a beta of 1.77. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.78 and a quick ratio of 1.70.

Tenet Healthcare (NYSE:THC - Get Free Report) last posted its 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. Tenet Healthcare had a net margin of 15.48% and a return on equity of 21.88%. The firm had revenue of $5.22 billion during the quarter, compared to analyst estimates of $5.15 billion. During the same quarter in the prior year, the business posted $3.22 EPS. The business's revenue was down 2.5% compared to the same quarter last year. On average, research analysts expect that Tenet Healthcare Co. will post 12.24 earnings per share for the current fiscal year.

Tenet Healthcare 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.