Premier Fund Managers Ltd Sells 6,292 Shares of Tenet Healthcare Co. (NYSE:THC)

Premier Fund Managers Ltd trimmed its holdings in Tenet Healthcare Co. (NYSE:THC - Free Report) by 66.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,219 shares of the company's stock after selling 6,292 shares during the quarter. Premier Fund Managers Ltd's holdings in Tenet Healthcare were worth $403,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of THC. Pictet Asset Management Holding SA grew its position in shares of Tenet Healthcare by 9.6% in the fourth quarter. Pictet Asset Management Holding SA now owns 14,018 shares of the company's stock valued at $1,769,000 after purchasing an additional 1,232 shares in the last quarter. New Age Alpha Advisors LLC bought a new stake in Tenet Healthcare in the fourth quarter valued at approximately $6,904,000. Norges Bank bought a new stake in shares of Tenet Healthcare in the fourth quarter worth about $190,819,000. Parametrica Management Ltd bought a new position in Tenet Healthcare in the 4th quarter worth $225,000. Finally, Prudential Financial Inc. raised its holdings in Tenet Healthcare by 8.6% in the fourth quarter. Prudential Financial Inc. now owns 121,509 shares of the company's stock worth $15,338,000 after purchasing an additional 9,602 shares in the last quarter. 95.44% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. KeyCorp dropped their price objective on Tenet Healthcare from $200.00 to $185.00 and set an "overweight" rating on the stock in a research report on Tuesday, January 7th. The Goldman Sachs Group cut Tenet Healthcare from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $196.00 to $140.00 in a report on Monday, December 16th. StockNews.com upgraded Tenet Healthcare from a "hold" rating to a "buy" rating in a research report on Thursday, March 13th. Truist Financial lowered their price objective on Tenet Healthcare from $190.00 to $175.00 and set a "buy" rating for the company in a research note on Monday, January 6th. Finally, Morgan Stanley assumed coverage on Tenet Healthcare in a research note on Wednesday, March 26th. They issued an "overweight" rating and a $165.00 target price on the stock. Three analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Tenet Healthcare presently has an average rating of "Moderate Buy" and an average price target of $166.41.

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Insider Transactions at Tenet Healthcare

In other news, Director J Robert Kerrey sold 9,525 shares of the business's stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $125.43, for a total value of $1,194,720.75. Following the sale, the director now owns 27,378 shares in the company, valued at approximately $3,434,022.54. The trade was a 25.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.93% of the stock is currently owned by corporate insiders.

Tenet Healthcare Price Performance

Shares of THC traded down $0.80 during mid-day trading on Tuesday, hitting $133.70. The company's stock had a trading volume of 612,809 shares, compared to its average volume of 1,483,877. Tenet Healthcare Co. has a fifty-two week low of $90.03 and a fifty-two week high of $171.20. The firm has a 50-day moving average price of $132.51 and a 200 day moving average price of $142.15. The stock has a market capitalization of $12.72 billion, a price-to-earnings ratio of 4.15, a PEG ratio of 1.02 and a beta of 2.06. 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 quarterly earnings results on Wednesday, February 12th. The company reported $3.44 EPS for the quarter, beating 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%. On average, research analysts predict that Tenet Healthcare Co. will post 12.24 EPS for the current fiscal 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.