Arizona State Retirement System Sells 317 Shares of Tenet Healthcare Co. (NYSE:THC)

Arizona State Retirement System trimmed its holdings in shares of Tenet Healthcare Co. (NYSE:THC) by 1.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,810 shares of the company’s stock after selling 317 shares during the quarter. Arizona State Retirement System’s holdings in Tenet Healthcare were worth $3,510,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Proficio Capital Partners LLC bought a new stake in shares of Tenet Healthcare in the 4th quarter valued at approximately $5,832,000. Assetmark Inc. boosted its stake in Tenet Healthcare by 173.1% during the fourth quarter. Assetmark Inc. now owns 14,871 shares of the company’s stock worth $1,877,000 after buying an additional 9,425 shares during the period. Victory Capital Management Inc. raised its stake in shares of Tenet Healthcare by 68.9% in the fourth quarter. Victory Capital Management Inc. now owns 507,055 shares of the company’s stock valued at $64,006,000 after acquiring an additional 206,907 shares during the period. LGT Fund Management Co Ltd. bought a new stake in shares of Tenet Healthcare in the 4th quarter worth about $2,073,000. 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 purchasing an additional 110 shares during the last quarter. Institutional investors own 95.44% of the company’s stock.

Tenet Healthcare Stock Up 1.8 %

Tenet Healthcare stock opened at $127.64 on Monday. Tenet Healthcare Co. has a twelve month low of $90.03 and a twelve month high of $171.20. The business has a fifty day moving average of $132.66 and a two-hundred day moving average of $145.89. The firm has a market cap of $12.14 billion, a P/E ratio of 3.96, a P/E/G ratio of 1.02 and a beta of 2.06. The company has a quick ratio of 1.70, a current ratio of 1.78 and a debt-to-equity ratio of 2.25.

Tenet Healthcare (NYSE:THC) last posted its earnings results on Wednesday, February 12th. The company reported $3.44 earnings per share (EPS) for the quarter, beating 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, analysts forecast that Tenet Healthcare Co. will post 12.24 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

THC has been the subject of several recent analyst reports. Cantor Fitzgerald restated an “overweight” rating and set a $177.00 target price on shares of Tenet Healthcare in a research report on Thursday, February 13th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $175.00 price objective on shares of Tenet Healthcare in a research report on Tuesday, December 17th. The Goldman Sachs Group downgraded Tenet Healthcare from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $196.00 to $140.00 in a research report on Monday, December 16th. Raymond James cut shares of Tenet Healthcare from a “strong-buy” rating to an “outperform” rating and set a $195.00 price target on the stock. in a report on Friday, November 22nd. Finally, Truist Financial decreased their price objective on shares of Tenet Healthcare from $190.00 to $175.00 and set a “buy” rating for the company in a report on Monday, January 6th. Four investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Tenet Healthcare presently has a consensus rating of “Moderate Buy” and a consensus target price of $163.88.

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.