Quantbot Technologies LP Grows Stake in Tenet Healthcare Co. (NYSE:THC)

Quantbot Technologies LP boosted its holdings in Tenet Healthcare Co. (NYSE:THC - Free Report) by 23.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,624 shares of the company's stock after buying an additional 5,504 shares during the period. Quantbot Technologies LP's holdings in Tenet Healthcare were worth $3,613,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. True Wealth Design LLC purchased a new stake in Tenet Healthcare in the 3rd quarter worth approximately $38,000. WR Wealth Planners LLC raised its position in shares of Tenet Healthcare by 2,836.4% in the fourth quarter. WR Wealth Planners LLC now owns 323 shares of the company's stock worth $41,000 after buying an additional 312 shares in the last quarter. Smartleaf Asset Management LLC grew its position in Tenet Healthcare by 30.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 471 shares of the company's stock worth $59,000 after buying an additional 110 shares in the last quarter. Kestra Investment Management LLC bought a new position in Tenet Healthcare in the 4th quarter worth about $60,000. Finally, Hantz Financial Services Inc. bought a new stake in shares of Tenet Healthcare during the 3rd quarter valued at about $83,000. Hedge funds and other institutional investors own 95.44% of the company's stock.

Tenet Healthcare Trading Up 1.9 %

Shares of NYSE:THC traded up $2.46 on Wednesday, hitting $133.24. The company had a trading volume of 1,983,616 shares, compared to its average volume of 1,520,072. Tenet Healthcare Co. has a 1 year low of $90.03 and a 1 year high of $171.20. The company has a quick ratio of 1.70, a current ratio of 1.78 and a debt-to-equity ratio of 2.25. The firm's 50-day simple moving average is $132.29 and its two-hundred day simple moving average is $142.77. The firm has a market capitalization of $12.67 billion, a price-to-earnings ratio of 4.13, a P/E/G ratio of 1.02 and a beta of 2.06.

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

Insider Buying and Selling at Tenet Healthcare

In related news, Director J Robert Kerrey sold 9,525 shares of Tenet Healthcare stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $125.43, for a total transaction of $1,194,720.75. Following the completion of the transaction, the director now directly owns 27,378 shares of the company's stock, valued at $3,434,022.54. This trade represents a 25.81 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.93% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on THC. The Goldman Sachs Group cut shares of Tenet Healthcare from a "buy" rating to a "neutral" rating and cut their price target for the stock from $196.00 to $140.00 in a research note on Monday, December 16th. TD Cowen initiated coverage on shares of Tenet Healthcare in a research report on Wednesday, February 26th. They issued a "buy" rating and a $175.00 target price for the company. Morgan Stanley assumed coverage on Tenet Healthcare in a research note on Wednesday. They set an "overweight" rating and a $165.00 price target for the company. KeyCorp decreased their price objective on Tenet Healthcare from $200.00 to $185.00 and set an "overweight" rating on the stock in a report on Tuesday, January 7th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $177.00 price target on shares of Tenet Healthcare in a research report on Thursday, February 13th. Three research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Tenet Healthcare currently has a consensus rating of "Moderate Buy" and a consensus target price of $163.94.

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.