Tenet Healthcare Co. (NYSE:THC) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its stake in shares of Tenet Healthcare Co. (NYSE:THC - Free Report) by 2.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 802,069 shares of the company's stock after selling 21,250 shares during the period. Bank of New York Mellon Corp owned about 0.84% of Tenet Healthcare worth $101,245,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Coldstream Capital Management Inc. grew its stake in shares of Tenet Healthcare by 2.2% during the 3rd quarter. Coldstream Capital Management Inc. now owns 3,406 shares of the company's stock valued at $566,000 after acquiring an additional 74 shares during the period. Spire Wealth Management boosted its position in shares of Tenet Healthcare by 19.5% in the fourth quarter. Spire Wealth Management now owns 558 shares of the company's stock worth $70,000 after purchasing an additional 91 shares during the period. Optas LLC raised its position in shares of Tenet Healthcare by 3.4% during the 3rd quarter. Optas LLC now owns 2,821 shares of the company's stock valued at $469,000 after purchasing an additional 93 shares during the period. CIBC Asset Management Inc boosted its holdings in Tenet Healthcare by 3.4% in the 3rd quarter. CIBC Asset Management Inc now owns 2,887 shares of the company's stock worth $480,000 after buying an additional 94 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its stake in Tenet Healthcare by 1.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 8,109 shares of the company's stock worth $1,024,000 after buying an additional 100 shares in the last quarter. Institutional investors own 95.44% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on THC shares. Cantor Fitzgerald restated an "overweight" rating and set a $177.00 price objective on shares of Tenet Healthcare in a research report on Thursday, February 13th. Wells Fargo & Company downgraded Tenet Healthcare from an "overweight" rating to an "equal weight" rating and cut their price objective for the company from $205.00 to $150.00 in a research report on Monday, November 25th. Raymond James lowered Tenet Healthcare from a "strong-buy" rating to an "outperform" rating and set a $195.00 target price for the company. in a research report on Friday, November 22nd. KeyCorp decreased their price objective on Tenet Healthcare from $200.00 to $185.00 and set an "overweight" rating for the company in a research note on Tuesday, January 7th. Finally, TD Cowen initiated coverage on Tenet Healthcare in a research note on Wednesday, February 26th. They set a "buy" rating and a $175.00 target price on the stock. Four research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $163.88.

Tenet Healthcare Price Performance

Shares of Tenet Healthcare stock traded up $3.54 on Wednesday, hitting $126.21. 1,364,556 shares of the company were exchanged, compared to its average volume of 1,428,923. Tenet Healthcare Co. has a 1-year low of $90.03 and a 1-year 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. The stock has a market capitalization of $12.01 billion, a price-to-earnings ratio of 3.92, a price-to-earnings-growth ratio of 1.02 and a beta of 2.05. The company has a 50-day moving average price of $132.72 and a 200 day moving average price of $146.39.

Tenet Healthcare (NYSE:THC - Get Free Report) last issued its 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 net margin of 15.48% and a return on equity of 21.88%. As a group, sell-side analysts predict 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.