Prudential Financial Inc. Buys 9,602 Shares of Tenet Healthcare Co. (NYSE:THC)

Prudential Financial Inc. increased its holdings in Tenet Healthcare Co. (NYSE:THC - Free Report) by 8.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 121,509 shares of the company's stock after buying an additional 9,602 shares during the period. Prudential Financial Inc. owned about 0.13% of Tenet Healthcare worth $15,338,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. New Wave Wealth Advisors LLC bought a new position in shares of Tenet Healthcare during the fourth quarter valued at approximately $343,000. Swedbank AB grew its stake in Tenet Healthcare by 100.0% during the 4th quarter. Swedbank AB now owns 40,000 shares of the company's stock worth $5,049,000 after buying an additional 20,000 shares during the last quarter. Signet Financial Management LLC acquired a new stake in Tenet Healthcare in the fourth quarter worth $1,526,000. China Universal Asset Management Co. Ltd. acquired a new position in shares of Tenet Healthcare during the fourth quarter valued at $410,000. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in shares of Tenet Healthcare during the fourth quarter worth about $5,892,000. Institutional investors own 95.44% of the company's stock.

Tenet Healthcare Stock Down 0.7 %

NYSE:THC traded down $0.95 during trading hours on Tuesday, hitting $133.55. 1,108,664 shares of the company's stock traded hands, compared to its average volume of 1,493,524. Tenet Healthcare Co. has a twelve month low of $90.03 and a twelve month high of $171.20. The firm has a market cap of $12.70 billion, a P/E ratio of 4.14, a P/E/G ratio of 1.02 and a beta of 2.06. The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.70 and a current ratio of 1.78. The stock's fifty day moving average price is $132.49 and its two-hundred day moving average price is $141.94.

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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, 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%. On average, research analysts expect that Tenet Healthcare Co. will post 12.24 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

THC has been the subject of a number of analyst reports. Morgan Stanley initiated coverage on shares of Tenet Healthcare in a research note on Wednesday, March 26th. They set an "overweight" rating and a $165.00 target price for the company. JPMorgan Chase & Co. reissued an "overweight" rating and issued a $175.00 price objective on shares of Tenet Healthcare in a report on Tuesday, December 17th. KeyCorp reduced their price target on Tenet Healthcare from $200.00 to $185.00 and set an "overweight" rating for the company in a research report on Tuesday, January 7th. Cantor Fitzgerald restated an "overweight" rating and set a $177.00 price objective on shares of Tenet Healthcare in a research note on Thursday, February 13th. Finally, The Goldman Sachs Group lowered shares of Tenet Healthcare from a "buy" rating to a "neutral" rating and decreased their target price for the company from $196.00 to $140.00 in a research report on Monday, December 16th. 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's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $166.41.

Insider Buying and Selling at Tenet Healthcare

In related news, Director J Robert Kerrey sold 9,525 shares of the business's stock in a transaction that occurred 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 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 position. 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.