Tenet Healthcare Co. (NYSE:THC) Shares Sold by Strs Ohio

Strs Ohio cut its holdings in shares of Tenet Healthcare Co. (NYSE:THC) by 18.0% in the fourth quarter, HoldingsChannel reports. The firm owned 18,860 shares of the company’s stock after selling 4,133 shares during the period. Strs Ohio’s holdings in Tenet Healthcare were worth $1,425,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. raised its position in shares of Tenet Healthcare by 46.3% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 629 shares of the company’s stock worth $31,000 after acquiring an additional 199 shares during the period. Belpointe Asset Management LLC raised its position in shares of Tenet Healthcare by 94.1% in the first quarter. Belpointe Asset Management LLC now owns 588 shares of the company’s stock worth $35,000 after acquiring an additional 285 shares during the period. Parkside Financial Bank & Trust raised its position in shares of Tenet Healthcare by 1,063.9% in the first quarter. Parkside Financial Bank & Trust now owns 419 shares of the company’s stock worth $36,000 after acquiring an additional 383 shares during the period. Lazard Asset Management LLC acquired a new position in shares of Tenet Healthcare in the first quarter worth about $36,000. Finally, Sunbelt Securities Inc. acquired a new position in shares of Tenet Healthcare in the third quarter worth about $67,000. 95.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently commented on THC. Mizuho boosted their target price on shares of Tenet Healthcare from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, February 9th. Barclays began coverage on shares of Tenet Healthcare in a research note on Wednesday, March 6th. They set an “overweight” rating and a $113.00 target price for the company. Royal Bank of Canada boosted their target price on shares of Tenet Healthcare from $97.00 to $109.00 and gave the stock an “outperform” rating in a research note on Friday, February 9th. TheStreet raised shares of Tenet Healthcare from a “c+” rating to a “b-” rating in a research note on Tuesday, February 6th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Tenet Healthcare from $100.00 to $126.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. One investment analyst has rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $100.38.

Insider Transactions at Tenet Healthcare

In other news, Director Richard W. Fisher sold 2,100 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $88.21, for a total value of $185,241.00. Following the transaction, the director now directly owns 20,127 shares in the company, valued at approximately $1,775,402.67. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Tenet Healthcare news, EVP Thomas W. Arnst sold 17,000 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $94.84, for a total transaction of $1,612,280.00. Following the sale, the executive vice president now directly owns 8,148 shares in the company, valued at approximately $772,756.32. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Richard W. Fisher sold 2,100 shares of the stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $88.21, for a total transaction of $185,241.00. Following the sale, the director now owns 20,127 shares in the company, valued at $1,775,402.67. The disclosure for this sale can be found here. In the last three months, insiders have sold 51,268 shares of company stock worth $4,944,810. 1.30% of the stock is currently owned by insiders.

Tenet Healthcare Stock Performance

NYSE:THC opened at $93.19 on Monday. The company has a debt-to-equity ratio of 4.77, a current ratio of 1.51 and a quick ratio of 1.42. The firm has a market capitalization of $9.24 billion, a price-to-earnings ratio of 16.32, a PEG ratio of 2.99 and a beta of 2.08. The company’s 50-day moving average is $97.47 and its two-hundred day moving average is $79.43. Tenet Healthcare Co. has a 1-year low of $51.04 and a 1-year high of $107.80.

Tenet Healthcare (NYSE:THC) last posted its earnings results 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 net margin of 2.97% and a return on equity of 26.34%. The company had revenue of $5.38 billion for the quarter, compared to analyst estimates of $5.28 billion. During the same period in the previous year, the business posted $1.96 EPS. Tenet Healthcare’s revenue was up 7.8% on a year-over-year basis. Analysts forecast that Tenet Healthcare Co. will post 6.3 EPS for the current year.

Tenet Healthcare 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.