Brandywine Global Investment Management LLC Has $6.52 Million Stock Position in Tenet Healthcare Co. (NYSE:THC)

Brandywine Global Investment Management LLC decreased its position in shares of Tenet Healthcare Co. (NYSE:THC) by 6.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 51,681 shares of the company’s stock after selling 3,503 shares during the quarter. Brandywine Global Investment Management LLC owned about 0.05% of Tenet Healthcare worth $6,524,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of THC. CIBC Private Wealth Group LLC boosted its position in Tenet Healthcare by 1.7% during the fourth quarter. CIBC Private Wealth Group LLC now owns 5,619 shares of the company’s stock valued at $732,000 after acquiring an additional 92 shares during the last quarter. DnB Asset Management AS bought a new stake in shares of Tenet Healthcare during the 4th quarter valued at about $6,488,000. denkapparat Operations GmbH bought a new stake in Tenet Healthcare in the fourth quarter worth approximately $291,000. Pictet Asset Management Holding SA boosted its holdings in shares of Tenet Healthcare by 9.6% during the 4th quarter. Pictet Asset Management Holding SA now owns 14,018 shares of the company’s stock worth $1,769,000 after buying an additional 1,232 shares in the last quarter. Finally, New Age Alpha Advisors LLC bought a new stake in shares of Tenet Healthcare in the 4th quarter valued at $6,904,000. 95.44% of the stock is owned by institutional investors.

Tenet Healthcare Stock Down 0.7 %

Shares of NYSE:THC opened at $133.55 on Wednesday. The company has a market capitalization of $12.70 billion, a PE ratio of 4.14, a price-to-earnings-growth 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. 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 business has a fifty day moving average price of $132.49 and a two-hundred day moving average price of $141.94.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings data 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 net margin of 15.48% and a return on equity of 21.88%. Analysts forecast that Tenet Healthcare Co. will post 12.24 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Barclays reduced their price target on shares of Tenet Healthcare from $190.00 to $161.00 and set an “overweight” rating for the company in a report on Thursday, February 13th. The Goldman Sachs Group downgraded Tenet Healthcare from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $196.00 to $140.00 in a research note on Monday, December 16th. Morgan Stanley assumed coverage on Tenet Healthcare in a research note on Wednesday, March 26th. They issued an “overweight” rating and a $165.00 price objective for the company. StockNews.com upgraded Tenet Healthcare from a “hold” rating to a “buy” rating in a report on Thursday, March 13th. Finally, Truist Financial lowered their price objective on shares of Tenet Healthcare from $190.00 to $175.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Three analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $166.41.

Insider Buying and Selling at Tenet Healthcare

In other news, Director J Robert Kerrey sold 9,525 shares of the stock in a transaction on Tuesday, March 11th. The stock was 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.93% of the stock is owned by corporate insiders.

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.