Commonwealth of Pennsylvania Public School Empls Retrmt SYS Sells 119 Shares of Tenet Healthcare Co. (NYSE:THC)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS trimmed its stake in Tenet Healthcare Co. (NYSE:THC) by 0.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,003 shares of the company’s stock after selling 119 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Tenet Healthcare were worth $2,651,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in THC. Coldstream Capital Management Inc. grew its holdings in shares of Tenet Healthcare by 2.2% in the third quarter. Coldstream Capital Management Inc. now owns 3,406 shares of the company’s stock worth $566,000 after acquiring an additional 74 shares during the period. EverSource Wealth Advisors LLC raised its stake in Tenet Healthcare by 9.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 940 shares of the company’s stock valued at $119,000 after purchasing an additional 80 shares during the period. Spire Wealth Management boosted its position in shares of Tenet Healthcare by 19.5% during the fourth quarter. Spire Wealth Management now owns 558 shares of the company’s stock worth $70,000 after acquiring an additional 91 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Tenet Healthcare by 1.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 8,109 shares of the company’s stock valued at $1,024,000 after purchasing an additional 100 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its holdings in Tenet Healthcare by 30.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 471 shares of the company’s stock valued at $59,000 after buying an additional 110 shares in the last quarter. Institutional investors own 95.44% of the company’s stock.

Insider Activity at Tenet Healthcare

In other Tenet Healthcare news, Director J Robert Kerrey sold 9,525 shares of the company’s stock in a transaction dated 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 transaction, the director now directly owns 27,378 shares in the company, valued at approximately $3,434,022.54. This represents a 25.81 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on THC. StockNews.com upgraded Tenet Healthcare from a “hold” rating to a “buy” rating in a research report on Thursday, March 13th. Truist Financial cut their price target on shares of Tenet Healthcare from $190.00 to $175.00 and set a “buy” rating on the stock in a report on Monday, January 6th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $175.00 target price on shares of Tenet Healthcare in a research report on Tuesday, December 17th. The Goldman Sachs Group cut shares of 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 research report on Monday, December 16th. Finally, Barclays decreased their price objective on Tenet Healthcare from $190.00 to $161.00 and set an “overweight” rating for the company in a research note on Thursday, February 13th. Three investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $163.88.

Tenet Healthcare Stock Performance

Shares of THC stock opened at $129.87 on Tuesday. The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.70 and a current ratio of 1.78. The stock has a fifty day moving average price of $132.22 and a 200 day moving average price of $142.92. Tenet Healthcare Co. has a 1 year low of $90.03 and a 1 year high of $171.20. The stock has a market cap of $12.35 billion, a PE ratio of 4.03, a P/E/G ratio of 1.02 and a beta of 2.06.

Tenet Healthcare (NYSE:THC) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $3.44 earnings per share 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 forecast that Tenet Healthcare Co. will post 12.24 earnings per share for the current fiscal 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.