Tenet Healthcare Co. (NYSE:THC) Stake Lifted by Alberta Investment Management Corp

Alberta Investment Management Corp increased its holdings in shares of Tenet Healthcare Co. (NYSE:THC - Free Report) by 212.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 25,000 shares of the company's stock after purchasing an additional 17,000 shares during the quarter. Alberta Investment Management Corp's holdings in Tenet Healthcare were worth $3,156,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Plato Investment Management Ltd acquired a new stake in shares of Tenet Healthcare in the third quarter valued at about $28,000. Financial Management Professionals Inc. boosted its holdings in Tenet Healthcare by 2,222.2% in the 3rd quarter. Financial Management Professionals Inc. now owns 209 shares of the company's stock worth $35,000 after acquiring an additional 200 shares during the period. True Wealth Design LLC purchased a new stake in shares of Tenet Healthcare during the third quarter valued at approximately $38,000. Kestra Investment Management LLC acquired a new position in shares of Tenet Healthcare during the fourth quarter worth $60,000. Finally, Wilmington Savings Fund Society FSB grew its holdings 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 valued at $66,000 after purchasing an additional 487 shares in the last quarter. 95.44% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have weighed in on THC. KeyCorp decreased their price objective on shares of Tenet Healthcare from $200.00 to $185.00 and set an "overweight" rating for the company in a research report on Tuesday, January 7th. StockNews.com lowered Tenet Healthcare from a "buy" rating to a "hold" rating in a research note on Thursday, February 13th. Barclays cut their target price on Tenet Healthcare from $190.00 to $161.00 and set an "overweight" rating on the stock in a research report on Thursday, February 13th. UBS Group raised their price target on shares of Tenet Healthcare from $197.00 to $217.00 and gave the stock a "buy" rating in a research report on Wednesday, October 30th. Finally, The Goldman Sachs Group downgraded shares of Tenet Healthcare from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $196.00 to $140.00 in a research note on Monday, December 16th. Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Tenet Healthcare currently has an average rating of "Moderate Buy" and an average price target of $163.19.

Tenet Healthcare Stock Performance

NYSE:THC traded down $7.67 during midday trading on Friday, reaching $129.57. 1,741,974 shares of the company traded hands, compared to its average volume of 1,340,176. Tenet Healthcare Co. has a twelve month low of $88.98 and a twelve month high of $171.20. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.78 and a quick ratio of 1.70. The company has a fifty day moving average price of $133.04 and a 200 day moving average price of $147.79. The firm has a market capitalization of $12.32 billion, a price-to-earnings ratio of 4.02, a price-to-earnings-growth ratio of 1.01 and a beta of 2.05.

Tenet Healthcare (NYSE:THC - Get Free Report) last released its quarterly earnings data on Wednesday, February 12th. The company reported $3.44 earnings per share 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 expect that Tenet Healthcare Co. will post 12.24 EPS for the current fiscal year.

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.