Franklin Resources Inc. lessened its stake in Tenet Healthcare Co. (NYSE:THC - Free Report) by 6.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 429,334 shares of the company's stock after selling 28,370 shares during the quarter. Franklin Resources Inc. owned approximately 0.45% of Tenet Healthcare worth $54,195,000 as of its most recent filing with the SEC.
A number of other hedge funds have also bought and sold shares of THC. WR Wealth Planners LLC grew its position 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 in the last quarter. Smartleaf Asset Management LLC raised its holdings 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 during the period. Kestra Investment Management LLC acquired a new position in shares of Tenet Healthcare in the 4th quarter valued at about $60,000. Wilmington Savings Fund Society FSB lifted its holdings in Tenet Healthcare by 1,352.8% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 523 shares of the company's stock worth $66,000 after acquiring an additional 487 shares during the last quarter. Finally, Spire Wealth Management raised 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 worth $70,000 after purchasing an additional 91 shares during the period. 95.44% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at Tenet Healthcare
In other 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 transaction, the director now directly owns 27,378 shares in the company, valued at approximately $3,434,022.54. The trade was a 25.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.93% of the stock is currently owned by company insiders.
Tenet Healthcare Stock Down 4.6 %
NYSE:THC traded down $5.99 during mid-day trading on Thursday, reaching $125.08. The stock had a trading volume of 199,360 shares, compared to its average volume of 1,517,483. 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 stock has a market cap of $11.90 billion, a P/E ratio of 3.88, a PEG ratio of 1.02 and a beta of 1.77. The business's 50 day moving average is $130.52 and its 200 day moving average is $140.18. Tenet Healthcare Co. has a fifty-two week low of $90.03 and a fifty-two week high of $171.20.
Tenet Healthcare (NYSE:THC - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The company reported $3.44 earnings per share 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%. As a group, sell-side analysts predict that Tenet Healthcare Co. will post 12.24 earnings per share for the current year.
Analyst Upgrades and Downgrades
A number of research analysts recently commented on THC shares. Morgan Stanley assumed coverage on Tenet Healthcare in a research note on Wednesday, March 26th. They set an "overweight" rating and a $165.00 price objective for the company. Guggenheim began coverage on shares of Tenet Healthcare in a research report on Wednesday. They issued a "buy" rating and a $165.00 price objective on the stock. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $177.00 price target on shares of Tenet Healthcare in a report on Thursday, February 13th. StockNews.com upgraded Tenet Healthcare from a "hold" rating to a "buy" rating in a research report on Thursday, March 13th. Finally, Truist Financial reduced their price objective on shares of Tenet Healthcare from $190.00 to $175.00 and set a "buy" rating for the company in a report on Monday, January 6th. Three research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $166.33.
Check Out Our Latest Stock Analysis on Tenet Healthcare
About Tenet Healthcare
(
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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