Thrivent Financial for Lutherans Has $6.43 Million Holdings in Tenet Healthcare Co. (NYSE:THC)

Thrivent Financial for Lutherans lifted its holdings in shares of Tenet Healthcare Co. (NYSE:THC - Free Report) by 31.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 48,982 shares of the company's stock after buying an additional 11,825 shares during the period. Thrivent Financial for Lutherans owned approximately 0.05% of Tenet Healthcare worth $6,433,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Pathstone Holdings LLC increased its holdings in shares of Tenet Healthcare by 2.7% during the third quarter. Pathstone Holdings LLC now owns 8,973 shares of the company's stock valued at $1,491,000 after purchasing an additional 233 shares during the period. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Tenet Healthcare during the 3rd quarter worth about $1,158,000. First Horizon Advisors Inc. boosted its holdings in shares of Tenet Healthcare by 12.1% in the third quarter. First Horizon Advisors Inc. now owns 1,180 shares of the company's stock valued at $196,000 after acquiring an additional 127 shares in the last quarter. Eagle Asset Management Inc. increased its stake in shares of Tenet Healthcare by 78.0% during the third quarter. Eagle Asset Management Inc. now owns 66,605 shares of the company's stock valued at $11,004,000 after acquiring an additional 29,190 shares during the period. Finally, Raymond James Trust N.A. lifted its position in Tenet Healthcare by 32.6% in the third quarter. Raymond James Trust N.A. now owns 4,087 shares of the company's stock worth $679,000 after purchasing an additional 1,005 shares during the period. 95.44% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

A number of research firms have recently commented on THC. The Goldman Sachs Group downgraded Tenet Healthcare from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $196.00 to $140.00 in a research note on Monday, December 16th. Morgan Stanley started coverage on shares of Tenet Healthcare in a research report on Wednesday. They set an "overweight" rating and a $165.00 price objective for the company. Cantor Fitzgerald reiterated an "overweight" rating and issued a $177.00 target price on shares of Tenet Healthcare in a report on Thursday, February 13th. Barclays decreased their target price on Tenet Healthcare from $190.00 to $161.00 and set an "overweight" rating on the stock in a report on Thursday, February 13th. Finally, StockNews.com raised shares of Tenet Healthcare from a "hold" rating to a "buy" rating in a research note on Thursday, March 13th. Three analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $163.94.

Tenet Healthcare Price Performance

Tenet Healthcare stock traded up $1.37 during trading hours on Thursday, hitting $134.41. 1,368,382 shares of the stock were exchanged, compared to its average volume of 1,517,464. Tenet Healthcare Co. has a 12 month low of $90.03 and a 12 month high of $171.20. The business's 50-day moving average is $132.35 and its two-hundred day 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 P/E ratio of 4.17, a P/E/G ratio of 1.02 and a beta of 2.06.

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

Insider Buying and Selling at Tenet Healthcare

In other news, Director J Robert Kerrey sold 9,525 shares of the stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $125.43, for a total transaction of $1,194,720.75. Following the sale, the director now directly owns 27,378 shares of the company's stock, valued at $3,434,022.54. This represents a 25.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.93% of the company's stock.

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.