Vanguard Group Inc. Sells 47,627 Shares of Tenet Healthcare Co. (NYSE:THC)

Vanguard Group Inc. decreased its stake in Tenet Healthcare Co. (NYSE:THC) by 0.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,074,795 shares of the company’s stock after selling 47,627 shares during the quarter. Vanguard Group Inc. owned approximately 0.11% of Tenet Healthcare worth $1,271,741,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Wealthfront Advisers LLC bought a new stake in Tenet Healthcare during the 4th quarter worth approximately $69,059,000. Geode Capital Management LLC raised its position in shares of Tenet Healthcare by 23.6% during the 3rd quarter. Geode Capital Management LLC now owns 2,044,667 shares of the company’s stock valued at $339,893,000 after purchasing an additional 390,316 shares during the period. Raymond James Financial Inc. bought a new position in Tenet Healthcare in the 4th quarter worth $49,001,000. Iron Triangle Partners LP bought a new stake in Tenet Healthcare during the third quarter valued at about $51,346,000. Finally, Victory Capital Management Inc. lifted its position 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 in the last quarter. Institutional investors own 95.44% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on THC. Morgan Stanley began coverage on Tenet Healthcare in a report on Wednesday. They issued an “overweight” rating and a $165.00 price target on the stock. Truist Financial reduced 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. KeyCorp dropped their price objective on shares of Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Barclays decreased their target price on Tenet Healthcare from $190.00 to $161.00 and set an “overweight” rating on the stock in a research report on Thursday, February 13th. Finally, TD Cowen initiated coverage on Tenet Healthcare in a report on Wednesday, February 26th. They set a “buy” rating and a $175.00 price target for the company. Three equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Tenet Healthcare has a consensus rating of “Moderate Buy” and a consensus target price of $166.41.

Tenet Healthcare Trading Up 1.0 %

Shares of THC opened at $134.41 on Friday. Tenet Healthcare Co. has a twelve month low of $90.03 and a twelve month high of $171.20. The company has a current ratio of 1.78, a quick ratio of 1.70 and a debt-to-equity ratio of 2.25. The company’s fifty day simple moving average is $132.38 and its 200-day simple moving average is $142.64. The company has a market cap of $12.79 billion, a P/E ratio of 4.17, a P/E/G ratio of 1.02 and a beta of 2.06.

Tenet Healthcare (NYSE:THC) last announced 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 net margin of 15.48% and a return on equity of 21.88%. As a group, analysts expect that Tenet Healthcare Co. will post 12.24 EPS for the current year.

Insider Buying and Selling at Tenet Healthcare

In other news, Director J Robert Kerrey sold 9,525 shares of the business’s stock in a transaction on 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 completion of the sale, the director now directly owns 27,378 shares of the company’s stock, valued at approximately $3,434,022.54. The trade was a 25.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.93% of the stock is currently owned by corporate insiders.

Tenet Healthcare Company 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.