Tenet Healthcare Co. (NYSE:THC) Shares Sold by Premier Fund Managers Ltd

Premier Fund Managers Ltd decreased its holdings in shares of Tenet Healthcare Co. (NYSE:THC) by 66.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,219 shares of the company’s stock after selling 6,292 shares during the quarter. Premier Fund Managers Ltd’s holdings in Tenet Healthcare were worth $403,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. New Wave Wealth Advisors LLC acquired a new stake in shares of Tenet Healthcare in the 4th quarter valued at about $343,000. Swedbank AB boosted its holdings in shares of Tenet Healthcare by 100.0% in the fourth quarter. Swedbank AB now owns 40,000 shares of the company’s stock valued at $5,049,000 after acquiring an additional 20,000 shares during the period. Signet Financial Management LLC purchased a new position in shares of Tenet Healthcare during the fourth quarter worth approximately $1,526,000. China Universal Asset Management Co. Ltd. purchased a new stake in Tenet Healthcare in the 4th quarter valued at $410,000. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in Tenet Healthcare during the 4th quarter worth $5,892,000. 95.44% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on THC. KeyCorp decreased their target price on shares of Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $175.00 target price on shares of Tenet Healthcare in a report on Tuesday, December 17th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $177.00 price objective on shares of Tenet Healthcare in a research report on Thursday, February 13th. StockNews.com upgraded shares of Tenet Healthcare from a “hold” rating to a “buy” rating in a research report on Thursday, March 13th. Finally, TD Cowen assumed coverage on shares of Tenet Healthcare in a research note on Wednesday, February 26th. They set a “buy” rating and a $175.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $166.41.

Tenet Healthcare Price Performance

Tenet Healthcare stock opened at $133.17 on Friday. The company has a quick ratio of 1.70, a current ratio of 1.78 and a debt-to-equity ratio of 2.25. The firm’s 50-day simple moving average is $132.43 and its 200 day simple moving average is $142.50. Tenet Healthcare Co. has a 52 week low of $90.03 and a 52 week high of $171.20. The firm has a market capitalization of $12.67 billion, a PE ratio of 4.13, 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 (EPS) for the quarter, topping the consensus estimate of $2.95 by $0.49. Tenet Healthcare had a return on equity of 21.88% and a net margin of 15.48%. On average, equities research analysts predict that Tenet Healthcare Co. will post 12.24 EPS for the current fiscal year.

Insider Activity at Tenet Healthcare

In other Tenet Healthcare news, Director J Robert Kerrey sold 9,525 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $125.43, for a total transaction of $1,194,720.75. Following the sale, the director now directly owns 27,378 shares of the company’s stock, valued at $3,434,022.54. This trade 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.

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.