Massachusetts Financial Services Co. MA Acquires Shares of 17,075 Tenet Healthcare Co. (NYSE:THC)

Massachusetts Financial Services Co. MA purchased a new stake in Tenet Healthcare Co. (NYSE:THC - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 17,075 shares of the company's stock, valued at approximately $2,155,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. WR Wealth Planners LLC boosted its stake in shares of 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 buying an additional 312 shares during the period. Smartleaf Asset Management LLC grew its holdings in shares of Tenet Healthcare by 30.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 471 shares of the company's stock worth $59,000 after purchasing an additional 110 shares in the last quarter. Kestra Investment Management LLC acquired a new position in Tenet Healthcare in the fourth quarter valued at about $60,000. Wilmington Savings Fund Society FSB grew its stake in Tenet Healthcare by 1,352.8% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 523 shares of the company's stock worth $66,000 after buying an additional 487 shares in the last quarter. Finally, Spire Wealth Management increased its holdings in Tenet Healthcare by 19.5% in the 4th quarter. Spire Wealth Management now owns 558 shares of the company's stock valued at $70,000 after buying an additional 91 shares during the period. Institutional investors and hedge funds own 95.44% of the company's stock.

Tenet Healthcare Stock Down 0.2 %

Tenet Healthcare stock traded down $0.29 during mid-day trading on Monday, reaching $123.50. The stock had a trading volume of 142,340 shares, compared to its average volume of 1,512,160. The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.70 and a current ratio of 1.78. Tenet Healthcare Co. has a fifty-two week low of $90.03 and a fifty-two week high of $171.20. The stock's 50-day simple moving average is $129.77 and its 200-day simple moving average is $139.42. The firm has a market capitalization of $11.75 billion, a PE ratio of 3.83, a price-to-earnings-growth ratio of 1.02 and a beta of 1.77.

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Tenet Healthcare (NYSE:THC - Get Free Report) last released its quarterly earnings data on Wednesday, February 12th. The company reported $3.44 earnings per share for the quarter, topping the consensus estimate 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, sell-side analysts forecast that Tenet Healthcare Co. will post 12.24 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on THC. Guggenheim assumed coverage on shares of Tenet Healthcare in a research note on Wednesday, April 9th. They issued a "buy" rating and a $165.00 price objective on the stock. Barclays lowered their price objective on shares of Tenet Healthcare from $190.00 to $161.00 and set an "overweight" rating for the company in a research report on Thursday, February 13th. The Goldman Sachs Group downgraded shares of Tenet Healthcare from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $196.00 to $140.00 in a report on Monday, December 16th. Morgan Stanley started coverage on Tenet Healthcare in a report on Wednesday, March 26th. They set an "overweight" rating and a $165.00 price objective on the stock. Finally, KeyCorp cut their price target on Tenet Healthcare from $200.00 to $185.00 and set an "overweight" rating on the stock in a research note on Tuesday, January 7th. Three analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $166.33.

Insiders Place Their Bets

In related news, Director J Robert Kerrey sold 9,525 shares of the company's stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $125.43, for a total transaction of $1,194,720.75. Following the completion of the sale, the director now owns 27,378 shares in the company, 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 filing with the SEC, which can be accessed through this link. Corporate insiders own 0.93% of the company's stock.

Tenet Healthcare 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.