Shell Asset Management Co. Trims Stock Position in Tenet Healthcare Co. (NYSE:THC)

Shell Asset Management Co. cut its holdings in shares of Tenet Healthcare Co. (NYSE:THCFree Report) by 1.7% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,988 shares of the company’s stock after selling 261 shares during the quarter. Shell Asset Management Co.’s holdings in Tenet Healthcare were worth $988,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its holdings in shares of Tenet Healthcare by 2.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,026,724 shares of the company’s stock valued at $67,651,000 after acquiring an additional 26,613 shares during the last quarter. Blueshift Asset Management LLC bought a new position in Tenet Healthcare during the 3rd quarter worth $623,000. First Eagle Investment Management LLC grew its stake in Tenet Healthcare by 37.3% during the 3rd quarter. First Eagle Investment Management LLC now owns 176,404 shares of the company’s stock worth $11,623,000 after buying an additional 47,952 shares during the last quarter. Amalgamated Bank grew its stake in Tenet Healthcare by 18.4% during the 3rd quarter. Amalgamated Bank now owns 78,446 shares of the company’s stock worth $5,169,000 after buying an additional 12,170 shares during the last quarter. Finally, Kestra Private Wealth Services LLC grew its stake in Tenet Healthcare by 26.5% during the 3rd quarter. Kestra Private Wealth Services LLC now owns 3,162 shares of the company’s stock worth $208,000 after buying an additional 662 shares during the last quarter. 93.56% of the stock is currently owned by institutional investors.

Insider Transactions at Tenet Healthcare

In other news, Director Richard W. Fisher sold 5,000 shares of the company’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $66.33, for a total transaction of $331,650.00. Following the completion of the sale, the director now owns 23,227 shares in the company, valued at approximately $1,540,646.91. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.30% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages recently commented on THC. UBS Group lowered their price objective on Tenet Healthcare from $104.00 to $94.00 and set a “buy” rating for the company in a research note on Thursday, November 2nd. Royal Bank of Canada upped their price objective on Tenet Healthcare from $97.00 to $109.00 and gave the stock an “outperform” rating in a research note on Friday. The Goldman Sachs Group reduced their price target on Tenet Healthcare from $98.00 to $85.00 and set a “buy” rating for the company in a research report on Thursday, November 9th. Jefferies Financial Group reduced their price target on Tenet Healthcare from $95.00 to $85.00 and set a “buy” rating for the company in a research report on Tuesday, November 14th. Finally, JPMorgan Chase & Co. cut their price objective on Tenet Healthcare from $91.00 to $81.00 and set an “overweight” rating for the company in a report on Friday, November 17th. One equities research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $92.47.

Get Our Latest Analysis on Tenet Healthcare

Tenet Healthcare Stock Down 1.1 %

NYSE:THC opened at $88.05 on Friday. The firm has a market capitalization of $8.94 billion, a price-to-earnings ratio of 15.42, a PEG ratio of 4.66 and a beta of 2.10. Tenet Healthcare Co. has a 1-year low of $49.76 and a 1-year high of $91.85. The company has a current ratio of 1.51, a quick ratio of 1.34 and a debt-to-equity ratio of 4.77. The business’s fifty day moving average price is $78.75 and its 200 day moving average price is $70.66.

Tenet Healthcare (NYSE:THCGet Free Report) last posted its quarterly earnings results on Thursday, February 8th. The company reported $2.68 earnings per share for the quarter, beating the consensus estimate of $1.58 by $1.10. Tenet Healthcare had a return on equity of 26.34% and a net margin of 2.97%. The firm had revenue of $5.38 billion for the quarter, compared to analyst estimates of $5.28 billion. During the same period in the previous year, the firm earned $1.96 earnings per share. Tenet Healthcare’s quarterly revenue was up 7.8% on a year-over-year basis. On average, sell-side analysts forecast that Tenet Healthcare Co. will post 6.28 earnings per share for the current fiscal year.

About Tenet Healthcare

(Free Report)

Tenet Healthcare Corporation operates as a diversified healthcare services company. The company operates through three segments: Hospital Operations, Ambulatory Care, and Conifer. Its general hospitals offer acute care services, operating and recovery rooms, radiology and respiratory therapy services, clinical laboratories, and pharmacies.

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Institutional Ownership by Quarter for Tenet Healthcare (NYSE:THC)

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