Invesco Ltd. lessened its holdings in shares of Tenet Healthcare Co. (NYSE:THC - Free Report) by 0.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,006,369 shares of the company's stock after selling 35,923 shares during the quarter. Invesco Ltd. owned approximately 5.26% of Tenet Healthcare worth $631,954,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also added to or reduced their stakes in the stock. WR Wealth Planners LLC boosted its stake in shares of Tenet Healthcare by 2,836.4% during the 4th quarter. WR Wealth Planners LLC now owns 323 shares of the company's stock valued at $41,000 after purchasing an additional 312 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of Tenet Healthcare by 30.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 471 shares of the company's stock worth $59,000 after acquiring an additional 110 shares during the period. Kestra Investment Management LLC bought a new position in shares of Tenet Healthcare in the 4th quarter worth approximately $60,000. Wilmington Savings Fund Society FSB boosted its position in shares of Tenet Healthcare by 1,352.8% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 523 shares of the company's stock valued at $66,000 after purchasing an additional 487 shares in the last quarter. Finally, Spire Wealth Management raised its holdings in Tenet Healthcare by 19.5% in the fourth quarter. Spire Wealth Management now owns 558 shares of the company's stock worth $70,000 after purchasing an additional 91 shares in the last quarter. Institutional investors own 95.44% of the company's stock.
Insider Buying and Selling
In other news, Director J Robert Kerrey sold 9,525 shares of the company's stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $125.43, for a total value of $1,194,720.75. Following the completion of the transaction, the director now 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 legal filing with the SEC, which is available at this hyperlink. 0.93% of the stock is currently owned by insiders.
Tenet Healthcare Stock Performance
NYSE THC traded down $3.82 on Friday, hitting $123.70. 1,565,976 shares of the company traded hands, compared to its average volume of 1,533,039. The company has a current ratio of 1.78, a quick ratio of 1.70 and a debt-to-equity ratio of 2.25. The business's 50 day moving average price is $129.77 and its 200-day moving average price is $139.42. The company has a market capitalization of $11.77 billion, a price-to-earnings ratio of 3.84, a P/E/G ratio of 1.02 and a beta of 1.77. Tenet Healthcare Co. has a 52-week low of $90.03 and a 52-week high of $171.20.
Tenet Healthcare (NYSE:THC - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $3.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.95 by $0.49. Tenet Healthcare had a return on equity of 21.88% and a net margin of 15.48%. Equities analysts expect that Tenet Healthcare Co. will post 12.24 earnings per share for the current year.
Analyst Upgrades and Downgrades
A number of analysts have recently weighed in on THC shares. KeyCorp reduced their target price on shares of Tenet Healthcare from $200.00 to $185.00 and set an "overweight" rating on the stock in a research report on Tuesday, January 7th. Guggenheim initiated coverage on Tenet Healthcare in a research note on Wednesday. They issued a "buy" rating and a $165.00 target price on the stock. StockNews.com upgraded shares of Tenet Healthcare from a "hold" rating to a "buy" rating in a research note on Thursday, March 13th. Cantor Fitzgerald reiterated an "overweight" rating and set a $177.00 price target on shares of Tenet Healthcare in a report on Thursday, February 13th. Finally, JPMorgan Chase & Co. reaffirmed an "overweight" rating and issued a $175.00 price objective on shares of Tenet Healthcare in a research report on Tuesday, December 17th. Three research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $166.33.
Check Out Our Latest Report on Tenet Healthcare
About Tenet Healthcare
(
Free Report)
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.
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