Fred Alger Management LLC Has $273,000 Stock Holdings in Tenet Healthcare Co. (NYSE:THC)

Fred Alger Management LLC decreased its position in Tenet Healthcare Co. (NYSE:THC - Free Report) by 87.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,640 shares of the company's stock after selling 11,050 shares during the period. Fred Alger Management LLC's holdings in Tenet Healthcare were worth $273,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the company. FMR LLC increased its position in Tenet Healthcare by 88.0% in the 3rd quarter. FMR LLC now owns 7,700,693 shares of the company's stock valued at $1,279,855,000 after acquiring an additional 3,604,161 shares during the period. Marshall Wace LLP grew its position in Tenet Healthcare by 7.3% in the 2nd quarter. Marshall Wace LLP now owns 713,979 shares of the company's stock valued at $94,981,000 after buying an additional 48,626 shares in the last quarter. Farallon Capital Management LLC raised its position in shares of Tenet Healthcare by 7.8% during the 2nd quarter. Farallon Capital Management LLC now owns 687,442 shares of the company's stock worth $91,450,000 after buying an additional 50,000 shares in the last quarter. Integral Health Asset Management LLC boosted its holdings in shares of Tenet Healthcare by 17.6% in the second quarter. Integral Health Asset Management LLC now owns 500,000 shares of the company's stock valued at $66,515,000 after acquiring an additional 75,000 shares in the last quarter. Finally, AQR Capital Management LLC raised its holdings in Tenet Healthcare by 35.2% during the second quarter. AQR Capital Management LLC now owns 341,250 shares of the company's stock worth $45,396,000 after purchasing an additional 88,781 shares in the last quarter. Institutional investors and hedge funds own 95.44% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Raymond James cut Tenet Healthcare from a "strong-buy" rating to an "outperform" rating and set a $195.00 price target on the stock. in a research report on Friday, November 22nd. Wells Fargo & Company downgraded shares of Tenet Healthcare from an "overweight" rating to an "equal weight" rating and cut their price target for the company from $205.00 to $150.00 in a report on Monday, November 25th. KeyCorp began coverage on shares of Tenet Healthcare in a research note on Friday, October 11th. They set an "overweight" rating and a $200.00 target price for the company. Royal Bank of Canada upped their price target on Tenet Healthcare from $174.00 to $183.00 and gave the company an "outperform" rating in a report on Wednesday, October 30th. Finally, Cantor Fitzgerald lifted their target price on Tenet Healthcare from $168.00 to $177.00 and gave the stock an "overweight" rating in a report on Wednesday, October 30th. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $168.19.

Insider Activity

In other Tenet Healthcare news, EVP Lisa Y. Foo sold 4,000 shares of the business's stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $155.94, for a total transaction of $623,760.00. Following the completion of the transaction, the executive vice president now owns 15,566 shares of the company's stock, valued at $2,427,362.04. The trade was a 20.44 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider R. Scott Ramsey sold 11,599 shares of the firm's stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $162.06, for a total value of $1,879,733.94. Following the completion of the sale, the insider now directly owns 6,324 shares in the company, valued at approximately $1,024,867.44. This represents a 64.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.93% of the stock is currently owned by insiders.

Tenet Healthcare Stock Down 0.5 %

Shares of Tenet Healthcare stock traded down $0.73 during trading on Monday, hitting $141.95. 1,095,739 shares of the stock traded hands, compared to its average volume of 1,228,460. The company has a fifty day moving average price of $156.87 and a two-hundred day moving average price of $148.73. Tenet Healthcare Co. has a twelve month low of $67.78 and a twelve month high of $171.20. The stock has a market cap of $13.50 billion, a P/E ratio of 4.55, a PEG ratio of 0.64 and a beta of 2.15. The company has a debt-to-equity ratio of 2.35, a quick ratio of 1.52 and a current ratio of 1.58.

Tenet Healthcare (NYSE:THC - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $2.93 EPS for the quarter, topping the consensus estimate of $2.33 by $0.60. The company had revenue of $5.12 billion for the quarter, compared to analyst estimates of $5.05 billion. Tenet Healthcare had a net margin of 14.91% and a return on equity of 24.05%. Tenet Healthcare's quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.44 EPS. Equities research analysts predict that Tenet Healthcare Co. will post 11.38 EPS for the current fiscal 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.