Geode Capital Management LLC Buys 71,454 Shares of Tenet Healthcare Co. (NYSE:THC)

Geode Capital Management LLC increased its stake in shares of Tenet Healthcare Co. (NYSE:THC - Free Report) by 3.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,116,121 shares of the company's stock after buying an additional 71,454 shares during the quarter. Geode Capital Management LLC owned about 2.23% of Tenet Healthcare worth $268,591,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. WR Wealth Planners LLC increased its stake in Tenet Healthcare by 2,836.4% in the fourth quarter. WR Wealth Planners LLC now owns 323 shares of the company's stock valued at $41,000 after acquiring an additional 312 shares during the last quarter. Smartleaf Asset Management LLC boosted its holdings in shares of Tenet Healthcare by 30.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 471 shares of the company's stock valued at $59,000 after purchasing an additional 110 shares in the last quarter. Kestra Investment Management LLC bought a new position in shares of Tenet Healthcare in the 4th quarter valued at $60,000. Wilmington Savings Fund Society FSB lifted its position in shares of Tenet Healthcare by 1,352.8% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 523 shares of the company's stock worth $66,000 after buying an additional 487 shares during the last quarter. Finally, Spire Wealth Management raised its stake in Tenet Healthcare by 19.5% during the fourth quarter. Spire Wealth Management now owns 558 shares of the company's stock worth $70,000 after acquiring an additional 91 shares in the last quarter. 95.44% of the stock is owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

THC has been the topic of several research reports. Barclays decreased their price target on shares of Tenet Healthcare from $190.00 to $161.00 and set an "overweight" rating on the stock in a report on Thursday, February 13th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $177.00 price target on shares of Tenet Healthcare in a research note on Thursday, February 13th. The Goldman Sachs Group cut Tenet Healthcare from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $196.00 to $140.00 in a report on Monday, December 16th. Guggenheim began coverage on Tenet Healthcare in a research note on Wednesday. They set a "buy" rating and a $165.00 price target on the stock. Finally, KeyCorp dropped their price objective on shares of Tenet Healthcare from $200.00 to $185.00 and set an "overweight" rating for the company in a report on Tuesday, January 7th. Three analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Tenet Healthcare currently has a consensus rating of "Moderate Buy" and an average price target of $166.33.

Insider Buying and Selling

In related news, Director J Robert Kerrey sold 9,525 shares of the stock in a transaction 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 transaction, the director now directly owns 27,378 shares in the company, valued at $3,434,022.54. This trade represents a 25.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.93% of the stock is owned by company insiders.

Tenet Healthcare Trading Down 4.6 %

THC stock traded down $5.99 during mid-day trading on Thursday, reaching $125.08. The company's stock had a trading volume of 199,360 shares, compared to its average volume of 1,517,483. The company has a market cap of $11.90 billion, a price-to-earnings ratio of 3.88, 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 business's 50 day moving average price is $130.52 and its 200 day moving average price is $140.18. The company has a current ratio of 1.78, a quick ratio of 1.70 and a debt-to-equity ratio of 2.25.

Tenet Healthcare (NYSE:THC - Get Free Report) last released 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, equities research analysts predict 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.