Teachers Retirement System of The State of Kentucky Sells 1,000 Shares of Tenet Healthcare Co. (NYSE:THC)

Teachers Retirement System of The State of Kentucky cut its stake in shares of Tenet Healthcare Co. (NYSE:THCGet Rating) by 6.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,985 shares of the company’s stock after selling 1,000 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Tenet Healthcare were worth $1,288,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. BlackRock Inc. boosted its stake in Tenet Healthcare by 3.8% during the first quarter. BlackRock Inc. now owns 12,532,426 shares of the company’s stock worth $1,077,288,000 after acquiring an additional 464,316 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Tenet Healthcare by 0.7% in the first quarter. Vanguard Group Inc. now owns 10,932,708 shares of the company’s stock valued at $939,775,000 after buying an additional 77,543 shares in the last quarter. Invesco Ltd. lifted its stake in shares of Tenet Healthcare by 7.5% in the first quarter. Invesco Ltd. now owns 5,972,392 shares of the company’s stock valued at $513,386,000 after buying an additional 418,634 shares in the last quarter. State Street Corp lifted its stake in shares of Tenet Healthcare by 2.4% in the first quarter. State Street Corp now owns 3,377,944 shares of the company’s stock valued at $290,368,000 after buying an additional 78,687 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Tenet Healthcare by 23.6% in the first quarter. Goldman Sachs Group Inc. now owns 2,180,627 shares of the company’s stock valued at $187,446,000 after buying an additional 415,945 shares in the last quarter. 97.38% of the stock is owned by institutional investors.

Insider Activity at Tenet Healthcare

In other Tenet Healthcare news, Director J Robert Kerrey sold 36,766 shares of the firm’s stock in a transaction on Thursday, August 11th. The shares were sold at an average price of $65.56, for a total value of $2,410,378.96. Following the completion of the transaction, the director now directly owns 48,798 shares of the company’s stock, valued at approximately $3,199,196.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Tenet Healthcare news, Director J Robert Kerrey sold 36,766 shares of the firm’s stock in a transaction on Thursday, August 11th. The shares were sold at an average price of $65.56, for a total value of $2,410,378.96. Following the completion of the transaction, the director now directly owns 48,798 shares of the company’s stock, valued at approximately $3,199,196.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Richard W. Fisher sold 7,439 shares of the firm’s stock in a transaction on Monday, July 25th. The shares were sold at an average price of $62.92, for a total transaction of $468,061.88. Following the completion of the transaction, the director now directly owns 34,362 shares of the company’s stock, valued at $2,162,057.04. The disclosure for this sale can be found here. 1.70% of the stock is owned by company insiders.

Tenet Healthcare Stock Down 3.8 %

Tenet Healthcare stock opened at $53.62 on Friday. Tenet Healthcare Co. has a 1-year low of $50.37 and a 1-year high of $92.65. The firm has a market capitalization of $5.79 billion, a price-to-earnings ratio of 6.66, a P/E/G ratio of 1.05 and a beta of 2.45. The company has a current ratio of 1.39, a quick ratio of 1.30 and a debt-to-equity ratio of 7.07. The firm has a 50 day simple moving average of $61.18 and a 200 day simple moving average of $68.00.

Tenet Healthcare (NYSE:THCGet Rating) last released its quarterly earnings data on Thursday, July 21st. The company reported $1.50 earnings per share for the quarter, beating analysts’ consensus estimates of $1.40 by $0.10. Tenet Healthcare had a net margin of 4.58% and a return on equity of 45.10%. During the same period last year, the business posted $1.59 earnings per share. On average, analysts predict that Tenet Healthcare Co. will post 6.47 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have weighed in on THC shares. Mizuho raised their price objective on shares of Tenet Healthcare from $63.00 to $80.00 and gave the company a “buy” rating in a research note on Tuesday, August 2nd. Raymond James dropped their price objective on shares of Tenet Healthcare from $120.00 to $110.00 and set a “strong-buy” rating on the stock in a research note on Monday, July 11th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Tenet Healthcare from $110.00 to $90.00 and set a “buy” rating for the company in a report on Thursday, July 7th. Truist Financial increased their target price on shares of Tenet Healthcare from $75.00 to $80.00 and gave the company a “buy” rating in a report on Monday, July 25th. Finally, TheStreet downgraded shares of Tenet Healthcare from a “b-” rating to a “c+” rating in a report on Friday, July 22nd. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Tenet Healthcare currently has an average rating of “Moderate Buy” and an average target price of $92.69.

Tenet Healthcare Company Profile

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Tenet Healthcare Corporation operates as a diversified healthcare services company. The company operates in three segments: Hospital Operations and Other, Ambulatory Care, and Conifer. Its general hospitals offer acute care services, operating and recovery rooms, radiology and respiratory therapy services, clinical laboratories, and pharmacies.

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Institutional Ownership by Quarter for Tenet Healthcare (NYSE:THC)

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