New York State Teachers Retirement System Sells 6,300 Shares of Tenet Healthcare Co. (NYSE:THC)

New York State Teachers Retirement System trimmed its stake in shares of Tenet Healthcare Co. (NYSE:THC - Free Report) by 5.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 107,776 shares of the company's stock after selling 6,300 shares during the period. New York State Teachers Retirement System owned about 0.11% of Tenet Healthcare worth $13,605,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of THC. FMR LLC raised its holdings in Tenet Healthcare by 88.0% in the 3rd quarter. FMR LLC now owns 7,700,693 shares of the company's stock valued at $1,279,855,000 after acquiring an additional 3,604,161 shares in the last quarter. Geode Capital Management LLC boosted its stake in Tenet Healthcare by 23.6% in the third quarter. Geode Capital Management LLC now owns 2,044,667 shares of the company's stock valued at $339,893,000 after acquiring an additional 390,316 shares during the last quarter. Iron Triangle Partners LP acquired a new position in Tenet Healthcare during the third quarter valued at approximately $51,346,000. Allspring Global Investments Holdings LLC raised its position in shares of Tenet Healthcare by 344.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 317,198 shares of the company's stock worth $52,718,000 after purchasing an additional 245,875 shares during the period. Finally, Point72 Asset Management L.P. boosted its position in shares of Tenet Healthcare by 32.0% during the third quarter. Point72 Asset Management L.P. now owns 442,949 shares of the company's stock worth $73,618,000 after buying an additional 107,290 shares during the period. Hedge funds and other institutional investors own 95.44% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on THC shares. The Goldman Sachs Group downgraded shares of Tenet Healthcare from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $196.00 to $140.00 in a report on Monday, December 16th. Truist Financial dropped their price target on shares of Tenet Healthcare from $190.00 to $175.00 and set a "buy" rating for the company in a research report on Monday, January 6th. Barclays cut their price target on shares of Tenet Healthcare from $190.00 to $161.00 and set an "overweight" rating for the company in a report on Thursday, February 13th. JPMorgan Chase & Co. restated an "overweight" rating and issued a $175.00 price target on shares of Tenet Healthcare in a research note on Tuesday, December 17th. Finally, 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. Four investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Tenet Healthcare has an average rating of "Moderate Buy" and a consensus price target of $163.19.

Tenet Healthcare Stock Down 5.6 %

Shares of THC stock traded down $7.67 on Friday, hitting $129.57. The stock had a trading volume of 1,741,974 shares, compared to its average volume of 1,340,176. Tenet Healthcare Co. has a 12-month low of $88.98 and a 12-month high of $171.20. The stock has a market cap of $12.32 billion, a price-to-earnings ratio of 4.02, a price-to-earnings-growth ratio of 1.01 and a beta of 2.05. The business has a 50 day moving average of $132.90 and a 200 day moving average of $147.69. 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 (NYSE:THC - Get Free Report) last posted its earnings results on Wednesday, February 12th. The company reported $3.44 EPS for the quarter, topping the consensus estimate of $2.95 by $0.49. Tenet Healthcare had a net margin of 15.48% and a return on equity of 21.88%. As a group, analysts expect that Tenet Healthcare Co. will post 12.24 EPS for the current year.

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.