O Shaughnessy Asset Management LLC Lowers Position in Tenet Healthcare Co. (NYSE:THC)

O Shaughnessy Asset Management LLC cut its position in shares of Tenet Healthcare Co. (NYSE:THC - Free Report) by 9.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 37,835 shares of the company's stock after selling 3,978 shares during the period. O Shaughnessy Asset Management LLC's holdings in Tenet Healthcare were worth $4,776,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. WR Wealth Planners LLC boosted 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 worth $41,000 after purchasing an additional 312 shares during the period. Smartleaf Asset Management LLC boosted 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 buying an additional 110 shares during the period. Kestra Investment Management LLC acquired a new position in Tenet Healthcare in the 4th quarter valued at about $60,000. Wilmington Savings Fund Society FSB lifted its position 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 acquiring an additional 487 shares during the last quarter. Finally, Spire Wealth Management boosted its holdings in shares of 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 during the period. 95.44% of the stock is owned by institutional investors.

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Tenet Healthcare Trading Down 9.5 %

Shares of Tenet Healthcare stock traded down $12.63 during midday trading on Friday, reaching $120.23. The company had a trading volume of 2,875,561 shares, compared to its average volume of 1,505,182. 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 fifty-two week low of $90.03 and a fifty-two week high of $171.20. The stock has a fifty day moving average price of $132.13 and a 200 day moving average price of $141.54. The firm has a market cap of $11.44 billion, a PE ratio of 3.73, a P/E/G ratio of 1.02 and a beta of 1.77.

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

Analysts Set New Price Targets

Several analysts recently weighed in on THC shares. StockNews.com raised Tenet Healthcare from a "hold" rating to a "buy" rating in a report on Thursday, March 13th. Cantor Fitzgerald reissued an "overweight" rating and set a $177.00 target price on shares of Tenet Healthcare in a report on Thursday, February 13th. KeyCorp decreased their price target on shares of Tenet Healthcare from $200.00 to $185.00 and set an "overweight" rating on the stock in a research note on Tuesday, January 7th. TD Cowen began coverage on shares of Tenet Healthcare in a research note on Wednesday, February 26th. They issued a "buy" rating and a $175.00 price objective for the company. Finally, Morgan Stanley assumed coverage on shares of Tenet Healthcare in a report on Wednesday, March 26th. They set an "overweight" rating and a $165.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Tenet Healthcare has an average rating of "Moderate Buy" and an average target price of $166.41.

Insiders Place Their Bets

In other Tenet Healthcare news, Director J Robert Kerrey sold 9,525 shares of the firm's 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 completion of the sale, the director now directly owns 27,378 shares in the company, valued at approximately $3,434,022.54. This trade represents a 25.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company 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.