Loomis Sayles & Co. L P Sells 119,157 Shares of Tenet Healthcare Co. (NYSE:THC)

Loomis Sayles & Co. L P reduced its position in Tenet Healthcare Co. (NYSE:THC - Free Report) by 44.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 151,143 shares of the company's stock after selling 119,157 shares during the period. Loomis Sayles & Co. L P owned approximately 0.16% of Tenet Healthcare worth $19,079,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of THC. True Wealth Design LLC bought a new stake in shares of Tenet Healthcare during the 3rd quarter valued at about $38,000. WR Wealth Planners LLC grew its position in Tenet Healthcare by 2,836.4% during the fourth quarter. WR Wealth Planners LLC now owns 323 shares of the company's stock valued at $41,000 after buying an additional 312 shares during the period. Smartleaf Asset Management LLC increased its holdings in Tenet Healthcare by 30.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 471 shares of the company's stock valued at $59,000 after buying an additional 110 shares during the last quarter. Kestra Investment Management LLC purchased a new position in shares of Tenet Healthcare during the 4th quarter worth $60,000. Finally, Wilmington Savings Fund Society FSB increased its stake in shares of Tenet Healthcare by 1,352.8% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 523 shares of the company's stock worth $66,000 after purchasing an additional 487 shares in the last quarter. Hedge funds and other institutional investors own 95.44% of the company's stock.

Tenet Healthcare Price Performance

THC traded down $0.84 during trading hours on Tuesday, hitting $133.66. The company's stock had a trading volume of 517,019 shares, compared to its average volume of 1,483,483. Tenet Healthcare Co. has a 12 month low of $90.03 and a 12 month high of $171.20. The company has a current ratio of 1.78, a quick ratio of 1.70 and a debt-to-equity ratio of 2.25. The business's 50-day moving average price is $132.51 and its 200-day moving average price is $142.15. The stock has a market cap of $12.71 billion, a price-to-earnings ratio of 4.15, a P/E/G ratio of 1.02 and a beta of 2.06.

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Tenet Healthcare (NYSE:THC - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $3.44 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%. Sell-side analysts expect that Tenet Healthcare Co. will post 12.24 earnings per share for the current fiscal year.

Insider Activity at Tenet Healthcare

In other news, Director J Robert Kerrey sold 9,525 shares of the stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $125.43, for a total value of $1,194,720.75. Following the sale, the director now owns 27,378 shares of the company's stock, valued at approximately $3,434,022.54. This represents a 25.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.93% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have issued reports on THC. KeyCorp cut their price target on Tenet Healthcare from $200.00 to $185.00 and set an "overweight" rating for the company in a report on Tuesday, January 7th. Truist Financial reduced their target price 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. 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 shares of Tenet Healthcare from a "hold" rating to a "buy" rating in a research report on Thursday, March 13th. Finally, The Goldman Sachs Group downgraded shares of Tenet Healthcare from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $196.00 to $140.00 in a report on Monday, December 16th. Three investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $166.41.

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.