Ontario Teachers Pension Plan Board Has $343,000 Stock Position in Tenet Healthcare Co. (NYSE:THC)

Ontario Teachers Pension Plan Board reduced its holdings in Tenet Healthcare Co. (NYSE:THC - Free Report) by 45.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,720 shares of the company's stock after selling 2,255 shares during the quarter. Ontario Teachers Pension Plan Board's holdings in Tenet Healthcare were worth $343,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. EverSource Wealth Advisors LLC raised its holdings in shares of Tenet Healthcare by 9.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 940 shares of the company's stock valued at $119,000 after acquiring an additional 80 shares during the period. Spire Wealth Management raised 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 valued at $70,000 after acquiring an additional 91 shares during the period. CIBC Private Wealth Group LLC raised its holdings in shares of Tenet Healthcare by 1.7% during the fourth quarter. CIBC Private Wealth Group LLC now owns 5,619 shares of the company's stock valued at $732,000 after acquiring an additional 92 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Tenet Healthcare by 1.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 8,109 shares of the company's stock valued at $1,024,000 after acquiring an additional 100 shares during the period. Finally, Prudential PLC raised its holdings in shares of Tenet Healthcare by 0.7% during the fourth quarter. Prudential PLC now owns 15,344 shares of the company's stock valued at $1,937,000 after acquiring an additional 107 shares during the period. 95.44% of the stock is currently owned by institutional investors.

Tenet Healthcare Stock Performance

THC stock traded up $5.77 during trading on Wednesday, reaching $120.45. 483,251 shares of the stock were exchanged, compared to its average volume of 1,506,373. Tenet Healthcare Co. has a twelve month low of $92.01 and a twelve month high of $171.20. The company has a market capitalization of $11.37 billion, a P/E ratio of 3.74, a price-to-earnings-growth ratio of 1.02 and a beta of 1.77. The stock has a 50 day simple moving average of $127.20 and a 200-day simple moving average of $137.53. The company has a current ratio of 1.78, a quick ratio of 1.70 and a debt-to-equity ratio of 2.25.

Tenet Healthcare (NYSE:THC - Get Free Report) last released 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 return on equity of 21.88% and a net margin of 15.48%. As a group, sell-side analysts anticipate that Tenet Healthcare Co. will post 12.24 earnings per share for the current year.

Analyst Ratings Changes

THC has been the topic of a number of research analyst reports. Truist Financial lowered their price objective on shares of Tenet Healthcare from $190.00 to $175.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. Barclays lowered their price objective on shares of Tenet Healthcare from $190.00 to $161.00 and set an "overweight" rating on the stock in a research report on Thursday, February 13th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $177.00 price objective on shares of Tenet Healthcare in a research report on Thursday, February 13th. Morgan Stanley began coverage on Tenet Healthcare in a report on Wednesday, March 26th. They set an "overweight" rating and a $165.00 target price on the stock. Finally, Robert W. Baird restated a "neutral" rating and set a $137.00 target price (down from $153.00) on shares of Tenet Healthcare in a report on Tuesday, April 15th. Five research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $165.44.

Insider Buying and Selling at Tenet Healthcare

In other Tenet Healthcare news, Director J Robert Kerrey sold 9,525 shares of Tenet Healthcare stock in a transaction that occurred 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 sale, the director now directly owns 27,378 shares of the company's stock, valued at approximately $3,434,022.54. The trade was a 25.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.93% of the company's stock.

About Tenet Healthcare

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.