Wedge Capital Management L L P NC Buys 7,112 Shares of Tenet Healthcare Co. (NYSE:THC)

Wedge Capital Management L L P NC boosted its position in Tenet Healthcare Co. (NYSE:THC - Free Report) by 3.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 238,465 shares of the company's stock after purchasing an additional 7,112 shares during the quarter. Wedge Capital Management L L P NC owned about 0.25% of Tenet Healthcare worth $30,101,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. FMR LLC raised its holdings in Tenet Healthcare by 88.0% in the 3rd quarter. FMR LLC now owns 7,700,693 shares of the company's stock valued at $1,279,855,000 after acquiring an additional 3,604,161 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Tenet Healthcare by 23.6% in the 3rd 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 in the last quarter. Marshall Wace LLP increased its position in Tenet Healthcare by 7.3% during the 2nd quarter. Marshall Wace LLP now owns 713,979 shares of the company's stock worth $94,981,000 after purchasing an additional 48,626 shares in the last quarter. Farallon Capital Management LLC lifted its stake in Tenet Healthcare by 7.8% in the 2nd quarter. Farallon Capital Management LLC now owns 687,442 shares of the company's stock valued at $91,450,000 after purchasing an additional 50,000 shares during the last quarter. Finally, Integral Health Asset Management LLC lifted its stake in Tenet Healthcare by 17.6% in the 2nd quarter. Integral Health Asset Management LLC now owns 500,000 shares of the company's stock valued at $66,515,000 after purchasing an additional 75,000 shares during the last quarter. 95.44% of the stock is currently owned by institutional investors.

Tenet Healthcare Stock Down 1.4 %

Shares of NYSE THC traded down $1.91 during mid-day trading on Friday, reaching $130.86. 747,352 shares of the company's stock traded hands, compared to its average volume of 1,247,127. The stock has a market cap of $12.44 billion, a P/E ratio of 4.19, a PEG ratio of 0.58 and a beta of 2.06. The business has a 50-day simple moving average of $137.71 and a 200 day simple moving average of $147.93. Tenet Healthcare Co. has a 1-year low of $78.77 and a 1-year high of $171.20. The company has a debt-to-equity ratio of 2.35, a current ratio of 1.58 and a quick ratio of 1.52.

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

Insider Activity

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 transaction of $623,760.00. Following the transaction, the executive vice president now directly owns 15,566 shares of the company's stock, valued at $2,427,362.04. This trade represents a 20.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.93% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. StockNews.com downgraded shares of Tenet Healthcare from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, December 17th. Wells Fargo & Company downgraded shares of Tenet Healthcare from an "overweight" rating to an "equal weight" rating and dropped their price objective for the company from $205.00 to $150.00 in a research note on Monday, November 25th. The Goldman Sachs Group downgraded shares of Tenet Healthcare from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $196.00 to $140.00 in a research note on Monday, December 16th. Cantor Fitzgerald raised their price target on shares of Tenet Healthcare from $168.00 to $177.00 and gave the company an "overweight" rating in a research note on Wednesday, October 30th. Finally, KeyCorp dropped their price target on shares of Tenet Healthcare from $200.00 to $185.00 and set an "overweight" rating for the company in a research note on Tuesday, January 7th. Three equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $165.00.

Tenet Healthcare Company 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.