Hennessy Advisors Inc. Has $12.22 Million Stock Holdings in Tenet Healthcare Co. (NYSE:THC)

Hennessy Advisors Inc. boosted its holdings in shares of Tenet Healthcare Co. (NYSE:THC - Free Report) by 6.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 96,800 shares of the company's stock after purchasing an additional 6,200 shares during the quarter. Hennessy Advisors Inc. owned about 0.10% of Tenet Healthcare worth $12,219,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Coldstream Capital Management Inc. increased its position in Tenet Healthcare by 2.2% during the third quarter. Coldstream Capital Management Inc. now owns 3,406 shares of the company's stock worth $566,000 after acquiring an additional 74 shares during the period. Optas LLC raised its position in shares of Tenet Healthcare by 3.4% during the third quarter. Optas LLC now owns 2,821 shares of the company's stock valued at $469,000 after buying an additional 93 shares during the last quarter. Signaturefd LLC lifted its stake in shares of Tenet Healthcare by 17.6% in the third quarter. Signaturefd LLC now owns 628 shares of the company's stock valued at $104,000 after buying an additional 94 shares during the period. CIBC Asset Management Inc increased its stake in Tenet Healthcare by 3.4% during the third quarter. CIBC Asset Management Inc now owns 2,887 shares of the company's stock valued at $480,000 after acquiring an additional 94 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its position in shares of Tenet Healthcare by 20.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 560 shares of the company's stock worth $74,000 after acquiring an additional 96 shares during the period. 95.44% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. StockNews.com lowered Tenet Healthcare from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, December 17th. Royal Bank of Canada raised their price objective on shares of Tenet Healthcare from $174.00 to $183.00 and gave the stock an "outperform" rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. reissued an "overweight" rating and issued a $175.00 target price on shares of Tenet Healthcare in a research note on Tuesday, December 17th. The Goldman Sachs Group downgraded Tenet Healthcare from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $196.00 to $140.00 in a report on Monday, December 16th. Finally, Barclays raised their target price on Tenet Healthcare from $171.00 to $190.00 and gave the stock an "overweight" rating in a research report on Friday, November 8th. Three analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $165.00.

Insider Buying and Selling

In related news, EVP Lisa Y. Foo sold 4,000 shares of the business's stock in a transaction that occurred 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 in the company, valued at approximately $2,427,362.04. The trade was a 20.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.93% of the stock is owned by insiders.

Tenet Healthcare Price Performance

Shares of THC traded down $1.91 during mid-day trading on Friday, hitting $130.86. 747,352 shares of the company traded hands, compared to its average volume of 1,247,127. The business has a 50-day moving average of $137.71 and a 200 day moving average of $148.03. The stock has a market capitalization of $12.44 billion, a price-to-earnings ratio of 4.19, a PEG ratio of 0.58 and a beta of 2.06. Tenet Healthcare Co. has a one year low of $78.77 and a one year high of $171.20. The company has a current ratio of 1.58, a quick ratio of 1.52 and a debt-to-equity ratio of 2.35.

Tenet Healthcare (NYSE:THC - Get Free Report) last released its earnings results on Tuesday, October 29th. The company reported $2.93 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.33 by $0.60. Tenet Healthcare had a net margin of 14.91% and a return on equity of 24.05%. The company had revenue of $5.12 billion for the quarter, compared to the consensus estimate of $5.05 billion. During the same period in the prior year, the company posted $1.44 EPS. The company's revenue was up 1.1% compared to the same quarter last year. As a group, equities analysts expect that Tenet Healthcare Co. will post 11.37 earnings per share for the current fiscal year.

Tenet Healthcare Company Profile

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.