Amalgamated Bank Trims Holdings in Tenet Healthcare Co. (NYSE:THC)

Amalgamated Bank lowered its holdings in shares of Tenet Healthcare Co. (NYSE:THC) by 1.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,983 shares of the company’s stock after selling 730 shares during the period. Amalgamated Bank’s holdings in Tenet Healthcare were worth $5,678,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Plato Investment Management Ltd purchased a new stake in shares of Tenet Healthcare in the 3rd quarter worth approximately $28,000. True Wealth Design LLC bought a new stake in Tenet Healthcare in the third quarter worth $38,000. Kestra Investment Management LLC purchased a new stake in shares of Tenet Healthcare in the fourth quarter worth $60,000. Hantz Financial Services Inc. bought a new position in Tenet Healthcare in the 3rd quarter worth about $83,000. Finally, Venturi Wealth Management LLC grew its position in Tenet Healthcare by 36.0% during the 3rd quarter. Venturi Wealth Management LLC now owns 521 shares of the company’s stock valued at $87,000 after purchasing an additional 138 shares during the last quarter. Institutional investors own 95.44% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. TD Cowen started coverage on shares of Tenet Healthcare in a report on Wednesday. They issued a “buy” rating and a $175.00 price objective for the company. Wells Fargo & Company downgraded Tenet Healthcare from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $205.00 to $150.00 in a report on Monday, November 25th. KeyCorp reduced their price objective on Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. The Goldman Sachs Group downgraded shares of Tenet Healthcare from a “buy” rating to a “neutral” rating and dropped their price target for the company from $196.00 to $140.00 in a report on Monday, December 16th. Finally, StockNews.com upgraded shares of Tenet Healthcare from a “hold” rating to a “buy” rating in a research report on Tuesday. Three equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $163.88.

Tenet Healthcare Stock Performance

NYSE:THC opened at $130.48 on Friday. The stock has a 50-day simple moving average of $133.09 and a two-hundred day simple moving average of $147.25. The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.70 and a current ratio of 1.78. Tenet Healthcare Co. has a 52-week low of $88.98 and a 52-week high of $171.20. The firm has a market capitalization of $12.41 billion, a PE ratio of 4.05, a P/E/G ratio of 1.02 and a beta of 2.05.

Tenet Healthcare (NYSE:THC) last released its earnings results on Wednesday, February 12th. The company reported $3.44 EPS 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%. Analysts forecast that Tenet Healthcare Co. will post 12.24 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.