Tenet Healthcare Co. (NYSE:THC) Shares Sold by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS decreased its holdings in Tenet Healthcare Co. (NYSE:THC) by 0.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,003 shares of the company’s stock after selling 119 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Tenet Healthcare were worth $2,651,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. True Wealth Design LLC acquired a new position in Tenet Healthcare during the third quarter worth approximately $38,000. WR Wealth Planners LLC increased its holdings in shares of Tenet Healthcare by 2,836.4% during the 4th quarter. WR Wealth Planners LLC now owns 323 shares of the company’s stock worth $41,000 after buying an additional 312 shares during the last quarter. Smartleaf Asset Management LLC raised its position in shares of Tenet Healthcare by 30.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 471 shares of the company’s stock worth $59,000 after buying an additional 110 shares during the period. Kestra Investment Management LLC purchased a new stake in Tenet Healthcare during the fourth quarter valued at about $60,000. Finally, Hantz Financial Services Inc. purchased a new position in shares of Tenet Healthcare in the 3rd quarter worth about $83,000. Institutional investors and hedge funds own 95.44% of the company’s stock.

Tenet Healthcare Stock Performance

Shares of Tenet Healthcare stock opened at $129.87 on Tuesday. The firm’s 50-day simple moving average is $132.22 and its 200-day simple moving average is $142.92. Tenet Healthcare Co. has a 1 year low of $90.03 and a 1 year high of $171.20. The firm has a market cap of $12.35 billion, a PE ratio of 4.03, a price-to-earnings-growth ratio of 1.02 and a beta of 2.06. The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.70 and a current ratio of 1.78.

Tenet Healthcare (NYSE:THC) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $3.44 earnings per share for the quarter, beating 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%. Equities analysts forecast that Tenet Healthcare Co. will post 12.24 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director J Robert Kerrey sold 9,525 shares of Tenet Healthcare stock in a transaction dated 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 sale, the director now directly owns 27,378 shares in the company, valued at $3,434,022.54. This trade represents a 25.81 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.93% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on THC shares. TD Cowen began coverage on shares of Tenet Healthcare in a report on Wednesday, February 26th. They issued a “buy” rating and a $175.00 price target on the stock. JPMorgan Chase & Co. restated an “overweight” rating and set a $175.00 target price on shares of Tenet Healthcare in a report on Tuesday, December 17th. StockNews.com upgraded Tenet Healthcare from a “hold” rating to a “buy” rating in a report on Thursday, March 13th. KeyCorp decreased their target price on Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Finally, Truist Financial dropped their target price on Tenet Healthcare from $190.00 to $175.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Three 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $163.88.

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.