Teacher Retirement System of Texas Sells 29,134 Shares of Tenet Healthcare Co. (NYSE:THC)

Teacher Retirement System of Texas lowered its holdings in Tenet Healthcare Co. (NYSE:THC) by 29.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 68,519 shares of the company’s stock after selling 29,134 shares during the quarter. Teacher Retirement System of Texas’ holdings in Tenet Healthcare were worth $8,649,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Xponance Inc. lifted its holdings in shares of Tenet Healthcare by 4.8% during the 4th quarter. Xponance Inc. now owns 10,929 shares of the company’s stock worth $1,380,000 after acquiring an additional 497 shares during the period. Thrivent Financial for Lutherans lifted its holdings in shares of Tenet Healthcare by 31.8% during the 4th quarter. Thrivent Financial for Lutherans now owns 48,982 shares of the company’s stock worth $6,433,000 after acquiring an additional 11,825 shares during the period. Signaturefd LLC lifted its holdings in shares of Tenet Healthcare by 24.8% during the 4th quarter. Signaturefd LLC now owns 784 shares of the company’s stock worth $99,000 after acquiring an additional 156 shares during the period. WealthTrust Asset Management LLC bought a new stake in shares of Tenet Healthcare during the 4th quarter worth approximately $731,000. Finally, Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Tenet Healthcare by 1.5% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 12,647 shares of the company’s stock worth $1,596,000 after acquiring an additional 186 shares during the period. Institutional investors own 95.44% of the company’s stock.

Insiders Place Their Bets

In other Tenet Healthcare news, Director J Robert Kerrey sold 9,525 shares of the firm’s stock in a transaction on Tuesday, March 11th. The shares were 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 directly owns 27,378 shares in the company, valued at approximately $3,434,022.54. This trade represents a 25.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.93% of the company’s stock.

Analysts Set New Price Targets

THC has been the subject of several research reports. StockNews.com raised shares of Tenet Healthcare from a “hold” rating to a “buy” rating in a research note on Thursday, March 13th. Cantor Fitzgerald reissued an “overweight” rating and issued a $177.00 price objective on shares of Tenet Healthcare in a research note on Thursday, February 13th. TD Cowen initiated coverage on shares of Tenet Healthcare in a research note on Wednesday, February 26th. They issued a “buy” rating and a $175.00 price objective for the company. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $175.00 price objective on shares of Tenet Healthcare in a research note on Tuesday, December 17th. Finally, Barclays dropped their price objective on shares of Tenet Healthcare from $190.00 to $161.00 and set an “overweight” rating for the company in a research note on Thursday, February 13th. Three equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Tenet Healthcare has an average rating of “Moderate Buy” and a consensus target price of $163.88.

Tenet Healthcare Trading Down 2.7 %

THC opened at $122.87 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 quick ratio of 1.70, a current ratio of 1.78 and a debt-to-equity ratio of 2.25. The company has a fifty day moving average of $132.20 and a 200-day moving average of $143.28. The stock has a market cap of $11.69 billion, a PE ratio of 3.81, a price-to-earnings-growth ratio of 1.02 and a beta of 2.06.

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

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.