Boston Partners Trims Holdings in Tenet Healthcare Co. (NYSE:THC)

Boston Partners lessened its holdings in Tenet Healthcare Co. (NYSE:THC) by 5.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 146,632 shares of the company’s stock after selling 7,692 shares during the quarter. Boston Partners owned about 0.15% of Tenet Healthcare worth $18,517,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in THC. True Wealth Design LLC bought a new position in Tenet Healthcare during the 3rd quarter valued at approximately $38,000. WR Wealth Planners LLC increased its holdings in shares of Tenet Healthcare by 2,836.4% during the fourth quarter. WR Wealth Planners LLC now owns 323 shares of the company’s stock valued at $41,000 after acquiring an additional 312 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in 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 purchasing an additional 110 shares in the last quarter. Kestra Investment Management LLC purchased a new stake in Tenet Healthcare during the 4th quarter valued at about $60,000. Finally, Hantz Financial Services Inc. purchased a new position in Tenet Healthcare in the third quarter worth about $83,000. Institutional investors own 95.44% of the company’s stock.

Analysts Set New Price Targets

THC has been the subject of several analyst reports. Truist Financial reduced their price target on shares of Tenet Healthcare from $190.00 to $175.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $177.00 price target on shares of Tenet Healthcare in a report on Thursday, February 13th. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $175.00 price objective on shares of Tenet Healthcare in a report on Tuesday, December 17th. The Goldman Sachs Group downgraded shares of Tenet Healthcare from a “buy” rating to a “neutral” rating and dropped their price target for the company from $196.00 to $140.00 in a report on Monday, December 16th. Finally, Barclays lowered their price objective on shares of Tenet Healthcare from $190.00 to $161.00 and set an “overweight” rating on the stock 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, Tenet Healthcare currently has an average rating of “Moderate Buy” and a consensus price target of $163.88.

Insiders Place Their Bets

In related news, Director J Robert Kerrey sold 9,525 shares of the company’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $125.43, for a total transaction of $1,194,720.75. Following the completion of the transaction, the director now owns 27,378 shares in the company, valued at approximately $3,434,022.54. This represents a 25.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.93% of the stock is currently owned by corporate insiders.

Tenet Healthcare Price Performance

Shares of NYSE:THC opened at $126.07 on Friday. The firm’s 50 day simple moving average is $132.31 and its two-hundred day simple moving average is $143.71. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.78 and a quick ratio of 1.70. The company has a market capitalization of $11.99 billion, a P/E ratio of 3.91, a P/E/G ratio of 1.02 and a beta of 2.06. Tenet Healthcare Co. has a 1-year low of $90.03 and a 1-year high of $171.20.

Tenet Healthcare (NYSE:THC) last issued its quarterly 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%. Research analysts expect that Tenet Healthcare Co. will post 12.24 EPS for the current fiscal year.

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.