Sei Investments Co. Boosts Stake in Tenet Healthcare Co. (NYSE:THC)

Sei Investments Co. boosted its stake in shares of Tenet Healthcare Co. (NYSE:THC - Free Report) by 8.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 243,425 shares of the company's stock after purchasing an additional 18,077 shares during the period. Sei Investments Co. owned approximately 0.26% of Tenet Healthcare worth $30,726,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. True Wealth Design LLC acquired a new stake in Tenet Healthcare during the 3rd quarter worth about $38,000. WR Wealth Planners LLC lifted its holdings in shares of Tenet Healthcare by 2,836.4% during the fourth quarter. WR Wealth Planners LLC now owns 323 shares of the company's stock worth $41,000 after purchasing an additional 312 shares during the period. Smartleaf Asset Management LLC boosted its position in Tenet Healthcare by 30.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 471 shares of the company's stock valued at $59,000 after buying an additional 110 shares during the last quarter. Kestra Investment Management LLC purchased a new position in Tenet Healthcare during the 4th quarter worth approximately $60,000. Finally, Wilmington Savings Fund Society FSB lifted its stake in Tenet Healthcare by 1,352.8% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 523 shares of the company's stock valued at $66,000 after acquiring an additional 487 shares during the period. Institutional investors and hedge funds own 95.44% of the company's stock.

Tenet Healthcare Price Performance

Shares of NYSE:THC traded down $1.27 during trading on Friday, reaching $133.17. The stock had a trading volume of 864,471 shares, compared to its average volume of 1,506,396. The business has a fifty day moving average price of $132.43 and a 200-day moving average price of $142.42. Tenet Healthcare Co. has a 1-year low of $90.03 and a 1-year high of $171.20. 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 cap of $12.67 billion, a PE ratio of 4.13, a PEG ratio of 1.02 and a beta of 2.06.

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

Insider Transactions at Tenet Healthcare

In other news, Director J Robert Kerrey sold 9,525 shares of Tenet Healthcare stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $125.43, for a total transaction of $1,194,720.75. Following the transaction, the director now owns 27,378 shares in the company, valued at $3,434,022.54. The trade was a 25.81 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.93% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Morgan Stanley began coverage on shares of Tenet Healthcare in a research report on Wednesday. They set an "overweight" rating and a $165.00 target price for the company. Cantor Fitzgerald reissued an "overweight" rating and issued a $177.00 price objective on shares of Tenet Healthcare in a report on Thursday, February 13th. JPMorgan Chase & Co. reiterated an "overweight" rating and set a $175.00 price target on shares of Tenet Healthcare in a research report on Tuesday, December 17th. TD Cowen initiated coverage on shares of Tenet Healthcare in a research note on Wednesday, February 26th. They set a "buy" rating and a $175.00 price objective on the stock. Finally, Barclays lowered their price target on shares of Tenet Healthcare from $190.00 to $161.00 and set an "overweight" rating on the stock in a report on Thursday, February 13th. Three investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $166.41.

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.