Tenet Healthcare Co. (NYSE:THC) Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas cut its stake in shares of Tenet Healthcare Co. (NYSE:THC - Free Report) by 29.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 68,519 shares of the company's stock after selling 29,134 shares during the quarter. Teacher Retirement System of Texas owned approximately 0.07% of Tenet Healthcare worth $8,649,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. FMR LLC grew its stake in shares of Tenet Healthcare by 88.0% during the third quarter. FMR LLC now owns 7,700,693 shares of the company's stock worth $1,279,855,000 after purchasing an additional 3,604,161 shares in the last quarter. Wealthfront Advisers LLC purchased a new stake in Tenet Healthcare during the fourth quarter worth approximately $69,059,000. Geode Capital Management LLC increased its stake in Tenet Healthcare by 23.6% in the third quarter. Geode Capital Management LLC now owns 2,044,667 shares of the company's stock valued at $339,893,000 after purchasing an additional 390,316 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Tenet Healthcare during the 4th quarter worth approximately $49,001,000. Finally, Iron Triangle Partners LP purchased a new position in shares of Tenet Healthcare in the 3rd quarter valued at $51,346,000. Hedge funds and other institutional investors own 95.44% of the company's stock.

Tenet Healthcare Trading Up 1.0 %

NYSE THC traded up $1.37 during mid-day trading on Thursday, reaching $134.41. 1,368,382 shares of the stock were exchanged, compared to its average volume of 1,517,464. The business's fifty day simple moving average is $132.35 and its 200 day simple moving average is $142.70. 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 has a market capitalization of $12.79 billion, a PE ratio of 4.17, a PEG ratio of 1.02 and a beta of 2.06. Tenet Healthcare Co. has a 1-year low of $90.03 and a 1-year high of $171.20.

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Tenet Healthcare (NYSE:THC - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $3.44 EPS 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%. On average, research analysts anticipate that Tenet Healthcare Co. will post 12.24 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director J Robert Kerrey sold 9,525 shares of Tenet Healthcare stock in a transaction dated 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 transaction, the director now directly owns 27,378 shares of the company's stock, valued at $3,434,022.54. The trade was a 25.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.93% of the company's stock.

Analyst Upgrades and Downgrades

THC has been the topic of a number of research analyst reports. The Goldman Sachs Group cut Tenet Healthcare from a "buy" rating to a "neutral" rating and cut their target price for the stock from $196.00 to $140.00 in a research report on Monday, December 16th. Truist Financial cut their target price on shares of Tenet Healthcare from $190.00 to $175.00 and set a "buy" rating on the stock in a report on Monday, January 6th. JPMorgan Chase & Co. reissued an "overweight" rating and set a $175.00 price objective on shares of Tenet Healthcare in a research report on Tuesday, December 17th. Morgan Stanley initiated coverage on Tenet Healthcare in a report on Wednesday. They set an "overweight" rating and a $165.00 price target on the stock. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $177.00 target price on shares of Tenet Healthcare in a research note on Thursday, February 13th. Three investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Tenet Healthcare presently has an average rating of "Moderate Buy" and an average price target of $163.94.

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.