California Public Employees Retirement System lessened its position in shares of Tenet Healthcare Co. (NYSE:THC - Free Report) by 3.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 179,465 shares of the company's stock after selling 5,860 shares during the quarter. California Public Employees Retirement System owned about 0.19% of Tenet Healthcare worth $22,654,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. WR Wealth Planners LLC lifted its stake in shares of Tenet Healthcare by 2,836.4% during the fourth quarter. WR Wealth Planners LLC now owns 323 shares of the company's stock worth $41,000 after buying an additional 312 shares during the period. Smartleaf Asset Management LLC increased its position in shares of Tenet Healthcare by 30.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 471 shares of the company's stock worth $59,000 after purchasing an additional 110 shares in the last quarter. Kestra Investment Management LLC purchased a new position in shares of Tenet Healthcare in the fourth quarter worth about $60,000. Wilmington Savings Fund Society FSB increased its holdings in shares of Tenet Healthcare by 1,352.8% in the fourth 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 during the last quarter. Finally, Spire Wealth Management boosted its position in shares of Tenet Healthcare by 19.5% during the 4th quarter. Spire Wealth Management now owns 558 shares of the company's stock valued at $70,000 after acquiring an additional 91 shares during the last quarter. 95.44% of the stock is currently owned by institutional investors and hedge funds.
Tenet Healthcare Stock Performance
Shares of THC traded down $12.63 during trading hours on Friday, hitting $120.23. The company had a trading volume of 2,875,561 shares, compared to its average volume of 1,505,182. The firm has a market cap of $11.44 billion, a price-to-earnings ratio of 3.73, a PEG ratio of 1.02 and a beta of 1.77. The business has a fifty day moving average of $132.13 and a 200-day moving average of $141.43. The company has a quick ratio of 1.70, a current ratio of 1.78 and a debt-to-equity ratio of 2.25. Tenet Healthcare Co. has a 12 month low of $90.03 and a 12 month high of $171.20.
Tenet Healthcare (NYSE:THC - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $3.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.95 by $0.49. Tenet Healthcare had a net margin of 15.48% and a return on equity of 21.88%. Equities analysts anticipate that Tenet Healthcare Co. will post 12.24 EPS for the current fiscal year.
Insider Activity
In related news, Director J Robert Kerrey sold 9,525 shares of Tenet Healthcare stock in a transaction dated 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 sale, the director now owns 27,378 shares of the company's stock, valued at approximately $3,434,022.54. This trade represents a 25.81 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.93% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
Several equities research analysts have issued reports on the company. Morgan Stanley assumed coverage on Tenet Healthcare in a research note on Wednesday, March 26th. They set an "overweight" rating and a $165.00 target price for the company. The Goldman Sachs Group cut Tenet Healthcare from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $196.00 to $140.00 in a research note on Monday, December 16th. JPMorgan Chase & Co. reissued an "overweight" rating and set a $175.00 price objective on shares of Tenet Healthcare in a report on Tuesday, December 17th. Cantor Fitzgerald restated an "overweight" rating and set a $177.00 price target on shares of Tenet Healthcare in a research note on Thursday, February 13th. Finally, StockNews.com upgraded shares of Tenet Healthcare from a "hold" rating to a "buy" rating in a research report on Thursday, March 13th. Three analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $166.41.
Check Out Our Latest Report on THC
Tenet Healthcare Company Profile
(
Free Report)
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.
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