Ritholtz Wealth Management Sells 2,238 Shares of Tenet Healthcare Co. (NYSE:THC)

Ritholtz Wealth Management trimmed its holdings in shares of Tenet Healthcare Co. (NYSE:THC - Free Report) by 11.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,562 shares of the company's stock after selling 2,238 shares during the quarter. Ritholtz Wealth Management's holdings in Tenet Healthcare were worth $2,091,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Legacy Capital Group California Inc. purchased a new stake in shares of Tenet Healthcare in the 3rd quarter worth $1,055,000. Signet Financial Management LLC bought a new position in shares of Tenet Healthcare in the fourth quarter worth about $1,526,000. Intech Investment Management LLC lifted its position in shares of Tenet Healthcare by 44.4% during the 3rd quarter. Intech Investment Management LLC now owns 79,266 shares of the company's stock valued at $13,174,000 after buying an additional 24,385 shares in the last quarter. Swiss National Bank increased its holdings in Tenet Healthcare by 8.7% in the 3rd quarter. Swiss National Bank now owns 190,800 shares of the company's stock worth $31,711,000 after acquiring an additional 15,200 shares in the last quarter. Finally, Estate Counselors LLC bought a new stake in Tenet Healthcare during the 3rd quarter worth approximately $1,792,000. 95.44% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

THC has been the topic of several recent analyst reports. The Goldman Sachs Group downgraded shares of Tenet Healthcare from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $196.00 to $140.00 in a research report on Monday, December 16th. Barclays boosted their price objective on Tenet Healthcare from $171.00 to $190.00 and gave the company an "overweight" rating in a research report on Friday, November 8th. Raymond James downgraded Tenet Healthcare from a "strong-buy" rating to an "outperform" rating and set a $195.00 target price on the stock. in a research note on Friday, November 22nd. KeyCorp cut their price objective on shares of Tenet Healthcare from $200.00 to $185.00 and set an "overweight" rating for the company in a report on Tuesday, January 7th. Finally, Royal Bank of Canada upped their target price on shares of Tenet Healthcare from $174.00 to $183.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 30th. Three research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $165.00.

Insider Transactions at Tenet Healthcare

In related news, EVP Lisa Y. Foo sold 4,000 shares of the firm's stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $155.94, for a total value of $623,760.00. Following the transaction, the executive vice president now owns 15,566 shares of the company's stock, valued at $2,427,362.04. This trade represents a 20.44 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.93% of the company's stock.

Tenet Healthcare Trading Down 1.4 %

Shares of NYSE THC traded down $1.91 during trading hours on Friday, hitting $130.86. 747,352 shares of the company traded hands, compared to its average volume of 1,247,127. Tenet Healthcare Co. has a 12 month low of $78.77 and a 12 month high of $171.20. The stock has a market capitalization of $12.44 billion, a price-to-earnings ratio of 4.19, a price-to-earnings-growth ratio of 0.58 and a beta of 2.06. The company has a current ratio of 1.58, a quick ratio of 1.52 and a debt-to-equity ratio of 2.35. The company's 50 day moving average price is $137.71 and its 200 day moving average price is $148.03.

Tenet Healthcare (NYSE:THC - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $2.93 earnings per share for the quarter, topping analysts' consensus estimates of $2.33 by $0.60. Tenet Healthcare had a net margin of 14.91% and a return on equity of 24.05%. The company had revenue of $5.12 billion for the quarter, compared to analyst estimates of $5.05 billion. During the same period in the prior year, the company posted $1.44 EPS. The firm's revenue for the quarter was up 1.1% on a year-over-year basis. On average, equities research analysts anticipate that Tenet Healthcare Co. will post 11.37 earnings per share for the current fiscal year.

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.