Tenet Healthcare Co. (NYSE:THC) Stock Position Reduced by Securian Asset Management Inc.

Securian Asset Management Inc. lessened its position in shares of Tenet Healthcare Co. (NYSE:THC) by 3.5% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 7,189 shares of the company’s stock after selling 262 shares during the quarter. Securian Asset Management Inc.’s holdings in Tenet Healthcare were worth $907,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of THC. FMR LLC lifted its holdings in Tenet Healthcare by 88.0% during the 3rd quarter. FMR LLC now owns 7,700,693 shares of the company’s stock worth $1,279,855,000 after buying an additional 3,604,161 shares during the last quarter. Wealthfront Advisers LLC bought a new stake in shares of Tenet Healthcare in the 4th quarter worth approximately $69,059,000. Geode Capital Management LLC lifted its holdings in shares of Tenet Healthcare by 23.6% in the 3rd quarter. Geode Capital Management LLC now owns 2,044,667 shares of the company’s stock worth $339,893,000 after purchasing an additional 390,316 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Tenet Healthcare in the 4th quarter worth approximately $49,001,000. Finally, Iron Triangle Partners LP bought a new stake in shares of Tenet Healthcare in the 3rd quarter worth approximately $51,346,000. Institutional investors own 95.44% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on THC shares. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $175.00 price target on shares of Tenet Healthcare in a report on Tuesday, December 17th. The Goldman Sachs Group downgraded Tenet Healthcare from a “buy” rating to a “neutral” rating and cut their price target for the stock from $196.00 to $140.00 in a report on Monday, December 16th. Barclays lowered 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. StockNews.com upgraded Tenet Healthcare from a “hold” rating to a “buy” rating in a research report on Thursday. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $177.00 target price on shares of Tenet Healthcare in a research report on Thursday, February 13th. Three equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $163.88.

Tenet Healthcare Stock Performance

Shares of NYSE THC opened at $122.76 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 stock has a market capitalization of $11.68 billion, a price-to-earnings ratio of 3.81, a PEG ratio of 1.02 and a beta of 2.06. The stock’s fifty day simple moving average is $132.46 and its 200 day simple moving average is $144.62. Tenet Healthcare Co. has a 52-week low of $90.03 and a 52-week high of $171.20.

Tenet Healthcare (NYSE:THC) last issued its earnings results on Wednesday, February 12th. The company reported $3.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.95 by $0.49. Tenet Healthcare had a return on equity of 21.88% and a net margin of 15.48%. As a group, sell-side analysts forecast that Tenet Healthcare Co. will post 12.24 earnings per share for the current fiscal year.

Insider Transactions at Tenet Healthcare

In other news, Director J Robert Kerrey sold 9,525 shares of the firm’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $125.43, for a total value of $1,194,720.75. Following the completion of the sale, the director now owns 27,378 shares of the company’s stock, valued at $3,434,022.54. This trade represents a 25.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.93% of the stock is currently owned by insiders.

About Tenet Healthcare

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.