Boston Partners Trims Holdings in Tenet Healthcare Co. (NYSE:THC)

Boston Partners decreased its stake in Tenet Healthcare Co. (NYSE:THC - Free Report) by 5.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 146,632 shares of the company's stock after selling 7,692 shares during the quarter. Boston Partners owned approximately 0.15% of Tenet Healthcare worth $18,517,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. FMR LLC raised its holdings in Tenet Healthcare by 88.0% during the third quarter. FMR LLC now owns 7,700,693 shares of the company's stock valued at $1,279,855,000 after acquiring an additional 3,604,161 shares during the period. Wealthfront Advisers LLC purchased a new position in Tenet Healthcare in the 4th quarter worth approximately $69,059,000. Geode Capital Management LLC boosted its stake in Tenet Healthcare by 23.6% in the 3rd quarter. Geode Capital Management LLC now owns 2,044,667 shares of the company's stock worth $339,893,000 after purchasing an additional 390,316 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Tenet Healthcare during the fourth quarter valued at approximately $49,001,000. Finally, Iron Triangle Partners LP purchased a new position in shares of Tenet Healthcare in the third quarter worth $51,346,000. 95.44% of the stock is owned by hedge funds and other institutional investors.

Tenet Healthcare Trading Up 1.0 %

THC traded up $1.31 on Tuesday, reaching $130.80. 1,694,002 shares of the company traded hands, compared to its average volume of 1,511,454. 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 company has a market cap of $12.44 billion, a P/E ratio of 4.06, a price-to-earnings-growth ratio of 1.02 and a beta of 2.06. The firm has a fifty day simple moving average of $132.22 and a two-hundred day simple moving average of $142.92. Tenet Healthcare Co. has a one year low of $90.03 and a one year high of $171.20.

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Tenet Healthcare (NYSE:THC - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $3.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.95 by $0.49. Tenet Healthcare had a return on equity of 21.88% and a net margin of 15.48%. As a group, equities research analysts expect that Tenet Healthcare Co. will post 12.24 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have commented on THC shares. The Goldman Sachs Group cut shares of Tenet Healthcare from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $196.00 to $140.00 in a research note on Monday, December 16th. KeyCorp cut their price target on Tenet Healthcare from $200.00 to $185.00 and set an "overweight" rating for the company in a 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. TD Cowen initiated coverage on shares of Tenet Healthcare in a research report on Wednesday, February 26th. They issued a "buy" rating and a $175.00 price target on the stock. Finally, Wells Fargo & Company lowered shares of Tenet Healthcare from an "overweight" rating to an "equal weight" rating and lowered their price objective for the company from $205.00 to $150.00 in a research report on Monday, November 25th. Three equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Tenet Healthcare has a consensus rating of "Moderate Buy" and a consensus price target of $163.88.

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 shares were sold at an average price of $125.43, for a total value of $1,194,720.75. Following the completion of the sale, the director now owns 27,378 shares in the company, valued at approximately $3,434,022.54. The trade was a 25.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.93% of the stock is owned by insiders.

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.