Rhumbline Advisers Trims Stock Holdings in Tenet Healthcare Co. (NYSE:THC)

Rhumbline Advisers reduced its position in Tenet Healthcare Co. (NYSE:THC - Free Report) by 2.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 260,095 shares of the company's stock after selling 6,280 shares during the quarter. Rhumbline Advisers owned 0.27% of Tenet Healthcare worth $32,832,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Plato Investment Management Ltd bought a new stake in shares of Tenet Healthcare in the third quarter valued at about $28,000. Financial Management Professionals Inc. raised its holdings in Tenet Healthcare by 2,222.2% in the third quarter. Financial Management Professionals Inc. now owns 209 shares of the company's stock worth $35,000 after purchasing an additional 200 shares in the last quarter. True Wealth Design LLC bought a new position in Tenet Healthcare in the third quarter worth about $38,000. Wilmington Savings Fund Society FSB raised its holdings in Tenet Healthcare by 1,352.8% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 523 shares of the company's stock worth $66,000 after purchasing an additional 487 shares in the last quarter. Finally, Spire Wealth Management raised its holdings in Tenet Healthcare by 19.5% in the fourth quarter. Spire Wealth Management now owns 558 shares of the company's stock worth $70,000 after purchasing an additional 91 shares in the last quarter. 95.44% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

THC has been the subject of a number of recent research reports. JPMorgan Chase & Co. reiterated an "overweight" rating and issued a $175.00 target price on shares of Tenet Healthcare in a report on Tuesday, December 17th. The Goldman Sachs Group lowered Tenet Healthcare from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $196.00 to $140.00 in a research note on Monday, December 16th. StockNews.com lowered Tenet Healthcare from a "buy" rating to a "hold" rating in a research note on Thursday, February 13th. Raymond James lowered Tenet Healthcare from a "strong-buy" rating to an "outperform" rating and set a $195.00 target price on the stock. in a research report on Friday, November 22nd. Finally, KeyCorp lowered their price objective on Tenet Healthcare from $200.00 to $185.00 and set an "overweight" rating on the stock in a research report on Tuesday, January 7th. Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $163.19.

Tenet Healthcare Stock Performance

Shares of NYSE:THC traded down $7.67 during trading on Friday, reaching $129.57. The company had a trading volume of 1,741,974 shares, compared to its average volume of 1,339,315. The firm has a market capitalization of $12.32 billion, a price-to-earnings ratio of 4.02, a price-to-earnings-growth ratio of 1.01 and a beta of 2.05. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.78 and a quick ratio of 1.70. The stock's fifty day moving average price is $133.04 and its 200 day moving average price is $147.79. Tenet Healthcare Co. has a fifty-two week low of $88.98 and a fifty-two week high of $171.20.

Tenet Healthcare (NYSE:THC - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $3.44 earnings per share for the quarter, topping analysts' consensus estimates of $2.95 by $0.49. Tenet Healthcare had a return on equity of 21.88% and a net margin of 15.48%. As a group, equities research analysts predict that Tenet Healthcare Co. will post 12.24 EPS for the current 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.