Franklin Resources Inc. Has $71.08 Million Holdings in Tenet Healthcare Co. (NYSE:THC)

Franklin Resources Inc. raised its holdings in Tenet Healthcare Co. (NYSE:THC - Free Report) by 11.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 457,704 shares of the company's stock after buying an additional 48,580 shares during the period. Franklin Resources Inc. owned 0.48% of Tenet Healthcare worth $71,077,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of THC. Sanctuary Advisors LLC raised its holdings in Tenet Healthcare by 470.5% during the third quarter. Sanctuary Advisors LLC now owns 15,289 shares of the company's stock worth $2,541,000 after acquiring an additional 12,609 shares in the last quarter. Arete Wealth Advisors LLC bought a new stake in shares of Tenet Healthcare during the 3rd quarter worth approximately $363,000. Coldstream Capital Management Inc. grew its stake in shares of Tenet Healthcare by 2.2% in the third quarter. Coldstream Capital Management Inc. now owns 3,406 shares of the company's stock valued at $566,000 after buying an additional 74 shares in the last quarter. Geode Capital Management LLC increased its holdings in Tenet Healthcare by 23.6% during the third quarter. Geode Capital Management LLC now owns 2,044,667 shares of the company's stock worth $339,893,000 after buying an additional 390,316 shares during the last quarter. Finally, MidWestOne Financial Group Inc. raised its position in Tenet Healthcare by 6.8% during the third quarter. MidWestOne Financial Group Inc. now owns 11,078 shares of the company's stock worth $1,841,000 after acquiring an additional 705 shares in the last quarter. 95.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity 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 stock was sold at an average price of $155.94, for a total value of $623,760.00. Following the sale, 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 filing with the SEC, which is available through this link. 0.93% of the stock is currently owned by insiders.

Tenet Healthcare Price Performance

Tenet Healthcare stock traded down $1.22 during mid-day trading on Tuesday, reaching $132.55. 1,315,749 shares of the company were exchanged, compared to its average volume of 1,226,814. The company has a fifty day simple moving average of $151.70 and a 200-day simple moving average of $149.39. The firm has a market cap of $12.61 billion, a PE ratio of 4.28, a PEG ratio of 0.63 and a beta of 2.06. 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 Co. has a 12 month low of $73.21 and a 12 month high of $171.20.

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 the consensus estimate of $2.33 by $0.60. Tenet Healthcare had a net margin of 14.91% and a return on equity of 24.05%. The business had revenue of $5.12 billion during the quarter, compared to analysts' expectations of $5.05 billion. During the same quarter in the prior year, the business posted $1.44 earnings per share. Tenet Healthcare's revenue was up 1.1% compared to the same quarter last year. As a group, equities research analysts expect that Tenet Healthcare Co. will post 11.38 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on THC. Barclays boosted their price objective on shares of Tenet Healthcare from $171.00 to $190.00 and gave the stock an "overweight" rating in a research note on Friday, November 8th. UBS Group upped their price objective on Tenet Healthcare from $197.00 to $217.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. The Goldman Sachs Group downgraded Tenet Healthcare from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $196.00 to $140.00 in a research note on Monday. Wells Fargo & Company cut Tenet Healthcare from an "overweight" rating to an "equal weight" rating and dropped their price target for the company from $205.00 to $150.00 in a research note on Monday, November 25th. Finally, Cantor Fitzgerald lifted their price objective on shares of Tenet Healthcare from $168.00 to $177.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 30th. Three equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $166.88.

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.