Dorsey Wright & Associates Decreases Stock Position in Tenet Healthcare Co. (NYSE:THC)

Dorsey Wright & Associates trimmed its stake in shares of Tenet Healthcare Co. (NYSE:THC - Free Report) by 24.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,291 shares of the company's stock after selling 2,349 shares during the quarter. Dorsey Wright & Associates' holdings in Tenet Healthcare were worth $920,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of THC. True Wealth Design LLC purchased a new position in Tenet Healthcare in the 3rd quarter valued at $38,000. WR Wealth Planners LLC lifted its stake in shares of Tenet Healthcare by 2,836.4% in the 4th quarter. WR Wealth Planners LLC now owns 323 shares of the company's stock worth $41,000 after acquiring an additional 312 shares during the period. Smartleaf Asset Management LLC boosted its holdings in shares of Tenet Healthcare by 30.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 471 shares of the company's stock valued at $59,000 after acquiring an additional 110 shares in the last quarter. Kestra Investment Management LLC purchased a new position in Tenet Healthcare during the fourth quarter worth about $60,000. Finally, Hantz Financial Services Inc. purchased a new stake in Tenet Healthcare in the 3rd quarter valued at approximately $83,000. 95.44% of the stock is currently owned by hedge funds and other institutional investors.

Tenet Healthcare Trading Down 0.7 %

NYSE:THC traded down $0.95 during mid-day trading on Tuesday, reaching $133.55. The company's stock had a trading volume of 1,108,664 shares, compared to its average volume of 1,493,524. The stock has a market cap of $12.70 billion, a P/E ratio of 4.14, a P/E/G ratio of 1.02 and a beta of 2.06. Tenet Healthcare Co. has a twelve month low of $90.03 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's fifty day simple moving average is $132.51 and its two-hundred day simple moving average is $142.15.

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

Insider Transactions at Tenet Healthcare

In other Tenet Healthcare news, Director J Robert Kerrey sold 9,525 shares of the business's stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $125.43, for a total transaction of $1,194,720.75. Following the completion of the sale, the director now directly owns 27,378 shares in the company, valued at $3,434,022.54. The trade was a 25.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.93% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Barclays reduced their price target on Tenet Healthcare from $190.00 to $161.00 and set an "overweight" rating for the company in a report on Thursday, February 13th. Cantor Fitzgerald restated an "overweight" rating and set a $177.00 target price on shares of Tenet Healthcare in a research report on Thursday, February 13th. Morgan Stanley began coverage on shares of Tenet Healthcare in a report on Wednesday, March 26th. They issued an "overweight" rating and a $165.00 price target for the company. StockNews.com upgraded shares of Tenet Healthcare from a "hold" rating to a "buy" rating in a research report on Thursday, March 13th. Finally, KeyCorp decreased their price target on Tenet Healthcare from $200.00 to $185.00 and set an "overweight" rating on the stock in a research note on Tuesday, January 7th. Three analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Tenet Healthcare currently has an average rating of "Moderate Buy" and a consensus price target of $166.41.

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.