Vanguard Group Inc. Sells 47,627 Shares of Tenet Healthcare Co. (NYSE:THC)

Vanguard Group Inc. reduced its position in Tenet Healthcare Co. (NYSE:THC - Free Report) by 0.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,074,795 shares of the company's stock after selling 47,627 shares during the quarter. Vanguard Group Inc. owned about 10.59% of Tenet Healthcare worth $1,271,741,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Coldstream Capital Management Inc. raised its position in Tenet Healthcare by 2.2% during the third quarter. Coldstream Capital Management Inc. now owns 3,406 shares of the company's stock valued at $566,000 after purchasing an additional 74 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Tenet Healthcare by 9.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 940 shares of the company's stock worth $119,000 after buying an additional 80 shares in the last quarter. Spire Wealth Management boosted its stake in Tenet Healthcare by 19.5% in the fourth quarter. Spire Wealth Management now owns 558 shares of the company's stock valued at $70,000 after buying an additional 91 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Tenet Healthcare by 1.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 8,109 shares of the company's stock valued at $1,024,000 after acquiring an additional 100 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of 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 acquiring an additional 110 shares during the last quarter. 95.44% of the stock is currently owned by institutional investors and hedge funds.

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Tenet Healthcare Trading Down 0.7 %

Shares of Tenet Healthcare stock traded down $0.95 on Tuesday, reaching $133.55. 1,108,664 shares of the company's stock were exchanged, compared to its average volume of 1,493,524. The firm's 50-day moving average is $132.49 and its two-hundred day moving average is $141.94. The company has a market capitalization of $12.70 billion, a P/E ratio of 4.14, a price-to-earnings-growth ratio of 1.02 and a beta of 2.06. The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.70 and a current ratio of 1.78. 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 posted its quarterly earnings results on Wednesday, February 12th. The company reported $3.44 EPS for the quarter, topping 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%. Sell-side analysts predict that Tenet Healthcare Co. will post 12.24 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director J Robert Kerrey sold 9,525 shares of the company's stock in a transaction that occurred 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 transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.93% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Morgan Stanley initiated coverage on shares of Tenet Healthcare in a research report on Wednesday, March 26th. They set an "overweight" rating and a $165.00 price objective for the company. The Goldman Sachs Group cut Tenet Healthcare from a "buy" rating to a "neutral" rating and dropped their price target for the company from $196.00 to $140.00 in a research note on Monday, December 16th. Barclays reduced their price objective on Tenet Healthcare from $190.00 to $161.00 and set an "overweight" rating on the stock in a research report on Thursday, February 13th. Cantor Fitzgerald reissued an "overweight" rating and set a $177.00 price target on shares of Tenet Healthcare in a research note on Thursday, February 13th. Finally, TD Cowen began coverage on Tenet Healthcare in a research note on Wednesday, February 26th. They issued a "buy" rating and a $175.00 price objective for the company. Three analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $166.41.

Tenet Healthcare Company 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.