Mitsubishi UFJ Trust & Banking Corp cut its holdings in shares of Tenet Healthcare Co. (NYSE:THC - Free Report) by 11.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,830 shares of the company's stock after selling 2,605 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp's holdings in Tenet Healthcare were worth $2,503,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Geode Capital Management LLC boosted its holdings in shares of Tenet Healthcare by 23.6% during the 3rd quarter. Geode Capital Management LLC now owns 2,044,667 shares of the company's stock worth $339,893,000 after buying an additional 390,316 shares during the period. Allianz Asset Management GmbH increased its stake in shares of Tenet Healthcare by 15.1% during the fourth quarter. Allianz Asset Management GmbH now owns 577,143 shares of the company's stock worth $72,853,000 after purchasing an additional 75,688 shares during the period. Wealthfront Advisers LLC acquired a new stake in Tenet Healthcare during the 4th quarter worth approximately $69,059,000. Victory Capital Management Inc. grew its holdings in Tenet Healthcare by 68.9% in the 4th quarter. Victory Capital Management Inc. now owns 507,055 shares of the company's stock valued at $64,006,000 after buying an additional 206,907 shares in the last quarter. Finally, Franklin Resources Inc. increased its position in Tenet Healthcare by 11.9% during the 3rd quarter. Franklin Resources Inc. now owns 457,704 shares of the company's stock worth $71,077,000 after buying an additional 48,580 shares during the period. Institutional investors and hedge funds own 95.44% of the company's stock.
Insiders Place Their Bets
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 completion of the sale, the director now directly owns 27,378 shares of the company's stock, valued at approximately $3,434,022.54. This represents a 25.81 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.93% of the company's stock.
Tenet Healthcare Trading Down 3.1 %
Shares of Tenet Healthcare stock traded down $4.24 on Thursday, hitting $132.94. 1,334,984 shares of the company's stock traded hands, compared to its average volume of 1,483,425. The company has a market capitalization of $12.65 billion, a price-to-earnings ratio of 4.12, a price-to-earnings-growth ratio of 1.02 and a beta of 2.06. The company has a fifty day moving average of $132.55 and a two-hundred day moving average of $141.91. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.78 and a quick ratio of 1.70. Tenet Healthcare Co. has a one year low of $90.03 and a one year high of $171.20.
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, beating 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%. As a group, sell-side analysts expect that Tenet Healthcare Co. will post 12.24 earnings per share for the current year.
Analyst Upgrades and Downgrades
A number of equities analysts recently commented on THC shares. JPMorgan Chase & Co. reaffirmed an "overweight" rating and set a $175.00 price target on shares of Tenet Healthcare in a research report on Tuesday, December 17th. KeyCorp cut their price target on Tenet Healthcare from $200.00 to $185.00 and set an "overweight" rating for the company in a research note on Tuesday, January 7th. Truist Financial lowered their price objective on Tenet Healthcare from $190.00 to $175.00 and set a "buy" rating on the stock in a research note on Monday, January 6th. The Goldman Sachs Group lowered Tenet Healthcare from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $196.00 to $140.00 in a report on Monday, December 16th. Finally, StockNews.com upgraded shares of Tenet Healthcare from a "hold" rating to a "buy" rating in a research report on Thursday, March 13th. Three equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $166.41.
View Our Latest Report on THC
Tenet Healthcare Profile
(
Free Report)
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.
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