Tenet Healthcare Co. (NYSE:THC) Stock Position Raised by Convergence Investment Partners LLC

Convergence Investment Partners LLC increased its stake in shares of Tenet Healthcare Co. (NYSE:THC - Free Report) by 25.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,605 shares of the company's stock after buying an additional 2,351 shares during the quarter. Convergence Investment Partners LLC's holdings in Tenet Healthcare were worth $1,465,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. FMR LLC lifted its position in Tenet Healthcare by 88.0% in the third quarter. FMR LLC now owns 7,700,693 shares of the company's stock valued at $1,279,855,000 after purchasing an additional 3,604,161 shares during the period. Geode Capital Management LLC lifted its position in shares of Tenet Healthcare by 23.6% during the 3rd quarter. Geode Capital Management LLC now owns 2,044,667 shares of the company's stock valued at $339,893,000 after acquiring an additional 390,316 shares during the period. Franklin Resources Inc. lifted its position in shares of Tenet Healthcare by 11.9% during the 3rd quarter. Franklin Resources Inc. now owns 457,704 shares of the company's stock valued at $71,077,000 after acquiring an additional 48,580 shares during the period. Point72 Asset Management L.P. raised its position in shares of Tenet Healthcare by 32.0% during the 3rd quarter. Point72 Asset Management L.P. now owns 442,949 shares of the company's stock worth $73,618,000 after purchasing an additional 107,290 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Tenet Healthcare by 344.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 317,198 shares of the company's stock worth $52,718,000 after purchasing an additional 245,875 shares during the last quarter. Institutional investors and hedge funds own 95.44% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on THC shares. The Goldman Sachs Group downgraded Tenet Healthcare from a "buy" rating to a "neutral" rating and cut their price objective for the stock from $196.00 to $140.00 in a research report on Monday, December 16th. Wells Fargo & Company downgraded Tenet Healthcare from an "overweight" rating to an "equal weight" rating and cut their price objective for the stock from $205.00 to $150.00 in a research report on Monday, November 25th. StockNews.com downgraded Tenet Healthcare from a "buy" rating to a "hold" rating in a research report on Thursday, February 13th. 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. Finally, UBS Group lifted their target price on shares of Tenet Healthcare from $197.00 to $217.00 and gave the stock a "buy" rating in a research note on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Tenet Healthcare presently has an average rating of "Moderate Buy" and an average price target of $163.19.

Tenet Healthcare Stock Down 5.6 %

Shares of Tenet Healthcare stock traded down $7.67 during trading on Friday, reaching $129.57. The company had a trading volume of 1,741,974 shares, compared to its average volume of 1,340,176. The company has a market cap 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. The firm's fifty day moving average is $132.90 and its 200-day moving average is $147.69. The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.70 and a current ratio of 1.78. Tenet Healthcare Co. has a fifty-two week low of $88.98 and a fifty-two week high of $171.20.

Tenet Healthcare (NYSE:THC - Get Free Report) last issued its 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 net margin of 15.48% and a return on equity of 21.88%. On average, analysts anticipate that Tenet Healthcare Co. will post 12.24 EPS for the current year.

About Tenet Healthcare

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.