Tenet Healthcare Co. (NYSE:THC) Shares Sold by Hancock Whitney Corp

Hancock Whitney Corp trimmed its holdings in Tenet Healthcare Co. (NYSE:THC - Free Report) by 13.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 81,846 shares of the company's stock after selling 12,980 shares during the quarter. Hancock Whitney Corp owned approximately 0.09% of Tenet Healthcare worth $10,331,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. GeoWealth Management LLC grew its holdings in Tenet Healthcare by 39.8% during the 4th quarter. GeoWealth Management LLC now owns 295 shares of the company's stock valued at $37,000 after buying an additional 84 shares in the last quarter. WR Wealth Planners LLC increased its position in Tenet Healthcare by 2,836.4% in 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 last quarter. Smartleaf Asset Management LLC increased 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 worth $59,000 after purchasing an additional 110 shares during the last quarter. Kestra Investment Management LLC bought a new position in Tenet Healthcare during the fourth quarter valued at $60,000. Finally, Wilmington Savings Fund Society FSB increased its holdings in shares of Tenet Healthcare by 1,352.8% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 523 shares of the company's stock worth $66,000 after buying an additional 487 shares during the last quarter. 95.44% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on THC. StockNews.com upgraded Tenet Healthcare from a "hold" rating to a "buy" rating in a research report on Thursday, March 13th. Cantor Fitzgerald restated an "overweight" rating and set a $177.00 price target on shares of Tenet Healthcare in a report on Thursday, February 13th. KeyCorp dropped their price objective 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. TD Cowen assumed coverage on shares of Tenet Healthcare in a research note on Wednesday, February 26th. They issued a "buy" rating and a $175.00 target price on the stock. Finally, Morgan Stanley initiated coverage on shares of Tenet Healthcare in a report on Wednesday, March 26th. They set an "overweight" rating and a $165.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $165.44.

Insiders Place Their Bets

In related news, Director J Robert Kerrey sold 9,525 shares of the company's 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 completion of the sale, the director now directly owns 27,378 shares in the company, valued at $3,434,022.54. This represents a 25.81 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.81% of the stock is owned by company insiders.

Tenet Healthcare Stock Down 1.8 %

Shares of THC stock traded down $2.25 during mid-day trading on Friday, hitting $121.99. The stock had a trading volume of 1,181,748 shares, compared to its average volume of 1,513,890. The firm has a market capitalization of $11.51 billion, a P/E ratio of 3.78, a price-to-earnings-growth ratio of 1.02 and a beta of 1.77. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.78 and a quick ratio of 1.70. Tenet Healthcare Co. has a 12-month low of $92.01 and a 12-month high of $171.20. The firm's 50-day moving average is $126.50 and its two-hundred day moving average is $136.90.

Tenet Healthcare (NYSE:THC - Get Free Report) last posted its earnings results on Wednesday, February 12th. The company reported $3.44 EPS for the quarter, beating 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, analysts predict that Tenet Healthcare Co. will post 12.24 earnings per share for the current fiscal 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.