Principal Financial Group Inc. Has $36.87 Million Position in Tenet Healthcare Co. (NYSE:THC)

Principal Financial Group Inc. reduced its position in shares of Tenet Healthcare Co. (NYSE:THC - Free Report) by 31.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 221,849 shares of the company's stock after selling 103,388 shares during the period. Principal Financial Group Inc. owned about 0.23% of Tenet Healthcare worth $36,871,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in THC. FMR LLC grew its position in shares of Tenet Healthcare by 88.0% during the 3rd quarter. FMR LLC now owns 7,700,693 shares of the company's stock valued at $1,279,855,000 after buying an additional 3,604,161 shares during the last quarter. Geode Capital Management LLC raised its position 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 purchasing an additional 390,316 shares during the period. Acadian Asset Management LLC lifted its holdings in shares of Tenet Healthcare by 7,223.1% in the 2nd quarter. Acadian Asset Management LLC now owns 326,244 shares of the company's stock worth $43,385,000 after purchasing an additional 321,789 shares during the last quarter. Iron Triangle Partners LP bought a new position in Tenet Healthcare during the 3rd quarter worth $51,346,000. Finally, Allspring Global Investments Holdings LLC lifted its stake in Tenet Healthcare by 344.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 317,198 shares of the company's stock valued at $52,718,000 after buying an additional 245,875 shares during the last quarter. Institutional investors and hedge funds own 95.44% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on THC shares. Raymond James cut shares of Tenet Healthcare from a "strong-buy" rating to an "outperform" rating and set a $195.00 price objective on the stock. in a report on Friday, November 22nd. Barclays boosted their price objective on Tenet Healthcare from $171.00 to $190.00 and gave the stock an "overweight" rating in a research report on Friday, November 8th. The Goldman Sachs Group lowered Tenet Healthcare from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $196.00 to $140.00 in a research report on Monday, December 16th. Wells Fargo & Company downgraded shares of Tenet Healthcare from an "overweight" rating to an "equal weight" rating and reduced their price objective for the stock from $205.00 to $150.00 in a report on Monday, November 25th. Finally, KeyCorp started coverage on shares of Tenet Healthcare in a research note on Friday, October 11th. They issued an "overweight" rating and a $200.00 price target for the company. Three analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $166.88.

Tenet Healthcare Stock Up 0.1 %

Shares of NYSE THC traded up $0.07 during mid-day trading on Tuesday, reaching $129.71. The company had a trading volume of 490,549 shares, compared to its average volume of 1,249,607. The stock has a market capitalization of $12.34 billion, a PE ratio of 4.16, a price-to-earnings-growth ratio of 0.61 and a beta of 2.06. Tenet Healthcare Co. has a twelve month low of $73.21 and a twelve month high of $171.20. The company has a debt-to-equity ratio of 2.35, a quick ratio of 1.52 and a current ratio of 1.58. The stock's 50 day moving average is $149.22 and its 200-day moving average is $149.20.

Tenet Healthcare (NYSE:THC - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $2.93 EPS for the quarter, beating the consensus estimate of $2.33 by $0.60. The business had revenue of $5.12 billion during the quarter, compared to analysts' expectations of $5.05 billion. Tenet Healthcare had a return on equity of 24.05% and a net margin of 14.91%. The firm's quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.44 EPS. As a group, equities analysts anticipate that Tenet Healthcare Co. will post 11.38 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Tenet Healthcare news, EVP Lisa Y. Foo sold 4,000 shares of the business's stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $155.94, for a total transaction of $623,760.00. Following the completion of the transaction, the executive vice president now owns 15,566 shares of the company's stock, valued at $2,427,362.04. The trade was a 20.44 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.93% of the stock is currently owned by corporate insiders.

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.