Fmr LLC Decreases Holdings in Tenet Healthcare Co. (NYSE:THC)

FMR LLC lowered its stake in shares of Tenet Healthcare Co. (NYSE:THC - Free Report) by 5.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 7,255,930 shares of the company's stock after selling 444,763 shares during the quarter. FMR LLC owned 7.63% of Tenet Healthcare worth $915,916,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Dynamic Technology Lab Private Ltd raised its position in shares of Tenet Healthcare by 314.9% in the 4th quarter. Dynamic Technology Lab Private Ltd now owns 14,360 shares of the company's stock worth $1,813,000 after acquiring an additional 10,899 shares in the last quarter. Islay Capital Management LLC acquired a new stake in shares of Tenet Healthcare in the 4th quarter worth $691,000. Prudential PLC raised its position in shares of Tenet Healthcare by 0.7% in the 4th quarter. Prudential PLC now owns 15,344 shares of the company's stock valued at $1,937,000 after purchasing an additional 107 shares during the last quarter. Huber Capital Management LLC grew its holdings in shares of Tenet Healthcare by 5.7% during the fourth quarter. Huber Capital Management LLC now owns 11,101 shares of the company's stock valued at $1,401,000 after buying an additional 600 shares during the last quarter. Finally, Cinctive Capital Management LP purchased a new position in shares of Tenet Healthcare in the fourth quarter worth about $2,455,000. Institutional investors own 95.44% of the company's stock.

Tenet Healthcare Stock Down 3.0 %

Shares of Tenet Healthcare stock traded down $3.82 during trading on Friday, hitting $123.70. 1,565,976 shares of the stock were exchanged, compared to its average volume of 1,533,039. The firm's 50-day moving average price is $129.77 and its 200 day moving average price is $139.42. The stock has a market cap of $11.77 billion, a price-to-earnings ratio of 3.84, a price-to-earnings-growth ratio of 1.02 and a beta of 1.77. Tenet Healthcare Co. has a 12-month low of $90.03 and a 12-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.

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Tenet Healthcare (NYSE:THC - Get Free Report) last posted its earnings results on Wednesday, February 12th. The company reported $3.44 earnings per share for the quarter, beating the consensus estimate 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, analysts forecast that Tenet Healthcare Co. will post 12.24 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have commented on THC. Cantor Fitzgerald restated an "overweight" rating and issued a $177.00 price objective on shares of Tenet Healthcare in a research report on Thursday, February 13th. Barclays cut their price objective on shares of Tenet Healthcare from $190.00 to $161.00 and set an "overweight" rating for the company in a report on Thursday, February 13th. Truist Financial lowered their target price on shares of Tenet Healthcare from $190.00 to $175.00 and set a "buy" rating on the stock in a research note on Monday, January 6th. Morgan Stanley started coverage on shares of Tenet Healthcare in a report on Wednesday, March 26th. They set an "overweight" rating and a $165.00 price objective on the stock. Finally, KeyCorp reduced their price target on shares of Tenet Healthcare from $200.00 to $185.00 and set an "overweight" rating for the company in a research report on Tuesday, January 7th. Three equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $166.33.

Insiders Place Their Bets

In other news, Director J Robert Kerrey sold 9,525 shares of the firm's stock in a transaction that occurred on 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 directly owns 27,378 shares of the company's stock, valued at $3,434,022.54. This trade represents a 25.81 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.93% of the stock is owned by insiders.

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.