Mutual of America Capital Management LLC Trims Stock Position in Tenet Healthcare Co. (NYSE:THC)

Mutual of America Capital Management LLC lowered its stake in shares of Tenet Healthcare Co. (NYSE:THC) by 11.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 97,059 shares of the company’s stock after selling 12,816 shares during the period. Mutual of America Capital Management LLC owned about 0.10% of Tenet Healthcare worth $7,335,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of THC. US Bancorp DE increased its stake in shares of Tenet Healthcare by 14.6% in the 1st quarter. US Bancorp DE now owns 1,428 shares of the company’s stock valued at $123,000 after purchasing an additional 182 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in shares of Tenet Healthcare by 46.3% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 629 shares of the company’s stock valued at $31,000 after purchasing an additional 199 shares in the last quarter. Treasurer of the State of North Carolina increased its stake in shares of Tenet Healthcare by 0.5% in the 3rd quarter. Treasurer of the State of North Carolina now owns 44,328 shares of the company’s stock valued at $2,921,000 after purchasing an additional 220 shares in the last quarter. Rockefeller Capital Management L.P. increased its stake in shares of Tenet Healthcare by 0.5% in the 2nd quarter. Rockefeller Capital Management L.P. now owns 44,692 shares of the company’s stock valued at $3,637,000 after purchasing an additional 243 shares in the last quarter. Finally, Cetera Investment Advisers increased its stake in Tenet Healthcare by 4.3% during the 4th quarter. Cetera Investment Advisers now owns 6,111 shares of the company’s stock worth $298,000 after buying an additional 253 shares in the last quarter. Hedge funds and other institutional investors own 95.44% of the company’s stock.

Tenet Healthcare Stock Down 1.4 %

Tenet Healthcare stock opened at $100.42 on Friday. Tenet Healthcare Co. has a twelve month low of $51.04 and a twelve month high of $107.80. The stock’s fifty day simple moving average is $96.79 and its 200-day simple moving average is $78.18. The company has a current ratio of 1.51, a quick ratio of 1.42 and a debt-to-equity ratio of 4.77. The firm has a market capitalization of $10.04 billion, a P/E ratio of 17.59, a P/E/G ratio of 3.19 and a beta of 2.08.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings data on Thursday, February 8th. The company reported $2.68 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $1.10. Tenet Healthcare had a return on equity of 26.34% and a net margin of 2.97%. The business had revenue of $5.38 billion for the quarter, compared to analyst estimates of $5.28 billion. During the same quarter in the prior year, the company earned $1.96 earnings per share. The company’s revenue was up 7.8% on a year-over-year basis. As a group, equities analysts expect that Tenet Healthcare Co. will post 6.09 earnings per share for the current fiscal year.

Insider Activity at Tenet Healthcare

In related news, Director Richard J. Mark sold 14,000 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $98.98, for a total value of $1,385,720.00. Following the transaction, the director now owns 33,303 shares of the company’s stock, valued at $3,296,330.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Tenet Healthcare news, Director Richard W. Fisher sold 2,100 shares of the company’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $88.21, for a total value of $185,241.00. Following the completion of the transaction, the director now owns 20,127 shares in the company, valued at $1,775,402.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard J. Mark sold 14,000 shares of the company’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $98.98, for a total transaction of $1,385,720.00. Following the completion of the transaction, the director now owns 33,303 shares of the company’s stock, valued at approximately $3,296,330.94. The disclosure for this sale can be found here. Insiders have sold 51,268 shares of company stock valued at $4,944,810 over the last quarter. 1.30% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts have commented on THC shares. StockNews.com upgraded Tenet Healthcare from a “hold” rating to a “buy” rating in a research note on Saturday, December 16th. Cantor Fitzgerald restated an “overweight” rating and set a $104.00 target price on shares of Tenet Healthcare in a report on Wednesday. Royal Bank of Canada boosted their target price on Tenet Healthcare from $97.00 to $109.00 and gave the stock an “outperform” rating in a report on Friday, February 9th. Deutsche Bank Aktiengesellschaft upped their price objective on Tenet Healthcare from $100.00 to $126.00 and gave the company a “buy” rating in a report on Friday. Finally, Mizuho upped their price objective on Tenet Healthcare from $90.00 to $100.00 and gave the company a “buy” rating in a report on Friday, February 9th. One research analyst has rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $100.38.

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.