Mackenzie Financial Corp Has $3.48 Million Position in Tenet Healthcare Co. (NYSE:THC)

Mackenzie Financial Corp lowered its position in shares of Tenet Healthcare Co. (NYSE:THC) by 8.6% during the fourth quarter, HoldingsChannel reports. The fund owned 46,067 shares of the company’s stock after selling 4,326 shares during the quarter. Mackenzie Financial Corp’s holdings in Tenet Healthcare were worth $3,481,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Phocas Financial Corp. lifted its stake in shares of Tenet Healthcare by 1.8% in the 4th quarter. Phocas Financial Corp. now owns 123,456 shares of the company’s stock valued at $9,330,000 after purchasing an additional 2,192 shares during the period. Louisiana State Employees Retirement System acquired a new position in shares of Tenet Healthcare in the 4th quarter valued at about $2,154,000. Crestwood Advisors Group LLC acquired a new position in shares of Tenet Healthcare in the 4th quarter valued at about $201,000. Simplicity Solutions LLC lifted its stake in shares of Tenet Healthcare by 6.0% in the 4th quarter. Simplicity Solutions LLC now owns 91,159 shares of the company’s stock valued at $6,889,000 after purchasing an additional 5,198 shares during the period. Finally, Violich Capital Management Inc. acquired a new position in Tenet Healthcare during the 4th quarter worth approximately $247,000. Institutional investors own 95.44% of the company’s stock.

Tenet Healthcare Price Performance

Shares of NYSE THC opened at $93.19 on Monday. The stock has a fifty day simple moving average of $97.47 and a two-hundred day simple moving average of $79.43. Tenet Healthcare Co. has a 1-year low of $51.04 and a 1-year high of $107.80. The firm has a market cap of $9.24 billion, a price-to-earnings ratio of 16.32, a price-to-earnings-growth ratio of 2.99 and a beta of 2.08. The company has a current ratio of 1.51, a quick ratio of 1.42 and a debt-to-equity ratio of 4.77.

Tenet Healthcare (NYSE:THC) last announced its quarterly earnings data on Thursday, February 8th. The company reported $2.68 earnings per share for the quarter, beating the consensus estimate of $1.58 by $1.10. Tenet Healthcare had a return on equity of 26.34% and a net margin of 2.97%. The business had revenue of $5.38 billion during the quarter, compared to analyst estimates of $5.28 billion. During the same period in the prior year, the company earned $1.96 earnings per share. Tenet Healthcare’s revenue was up 7.8% compared to the same quarter last year. Analysts anticipate that Tenet Healthcare Co. will post 6.3 earnings per share for the current year.

Insider Buying and Selling at Tenet Healthcare

In other news, Director Richard W. Fisher sold 2,100 shares of the firm’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $88.21, for a total value of $185,241.00. Following the completion of the transaction, the director now directly owns 20,127 shares of the company’s stock, valued at $1,775,402.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Richard W. Fisher sold 2,100 shares of the firm’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $88.21, for a total value of $185,241.00. Following the completion of the transaction, the director now directly owns 20,127 shares of the company’s stock, valued at $1,775,402.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard J. Mark sold 14,000 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $98.98, for a total value of $1,385,720.00. Following the completion of the transaction, the director now directly owns 33,303 shares of the company’s stock, valued at $3,296,330.94. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 51,268 shares of company stock valued at $4,944,810. Company insiders own 0.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on THC. Wells Fargo & Company upped their price target on Tenet Healthcare from $105.00 to $115.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. Deutsche Bank Aktiengesellschaft upped their price target on Tenet Healthcare from $100.00 to $126.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $104.00 price target on shares of Tenet Healthcare in a research note on Wednesday, April 10th. Royal Bank of Canada increased their price objective on Tenet Healthcare from $97.00 to $109.00 and gave the stock an “outperform” rating in a research note on Friday, February 9th. Finally, Mizuho increased their price objective on Tenet Healthcare from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, February 9th. One research analyst has rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $100.38.

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.