Boston Partners Cuts Position in Tenet Healthcare Co. (NYSE:THC)

Boston Partners decreased its holdings in Tenet Healthcare Co. (NYSE:THC) by 5.0% in the fourth quarter, Holdings Channel reports. The fund owned 146,632 shares of the company’s stock after selling 7,692 shares during the quarter. Boston Partners’ holdings in Tenet Healthcare were worth $18,517,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. True Wealth Design LLC bought a new stake in Tenet Healthcare in the third quarter worth $38,000. WR Wealth Planners LLC raised its stake in shares of Tenet Healthcare by 2,836.4% in 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 during the period. Smartleaf Asset Management LLC boosted its stake in shares of Tenet Healthcare by 30.5% during 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 during the period. Kestra Investment Management LLC purchased a new stake in Tenet Healthcare in the 4th quarter worth about $60,000. Finally, Wilmington Savings Fund Society FSB lifted its stake in Tenet Healthcare by 1,352.8% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 523 shares of the company’s stock worth $66,000 after purchasing an additional 487 shares during the last quarter. Hedge funds and other institutional investors own 95.44% of the company’s stock.

Analysts Set New Price Targets

THC has been the topic of several recent analyst reports. Truist Financial reduced their price target on Tenet Healthcare from $190.00 to $175.00 and set a “buy” rating on the stock in a report on Monday, January 6th. StockNews.com upgraded Tenet Healthcare from a “hold” rating to a “buy” rating in a research report on Thursday, March 13th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $175.00 price target on shares of Tenet Healthcare in a research note on Tuesday, December 17th. KeyCorp lowered their price objective on shares of 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, Wells Fargo & Company lowered shares of Tenet Healthcare from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $205.00 to $150.00 in a research report on Monday, November 25th. Three equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Tenet Healthcare currently has a consensus rating of “Moderate Buy” and a consensus target price of $163.88.

Insider Buying and Selling at Tenet Healthcare

In other news, Director J Robert Kerrey sold 9,525 shares of the company’s stock in a transaction dated 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 transaction, the director now owns 27,378 shares in the company, valued at $3,434,022.54. This represents a 25.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.93% of the stock is currently owned by company insiders.

Tenet Healthcare Stock Performance

THC stock opened at $126.07 on Friday. The firm has a 50-day simple moving average of $132.31 and a two-hundred day simple moving average of $143.71. 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 Co. has a one year low of $90.03 and a one year high of $171.20. The firm has a market cap of $11.99 billion, a price-to-earnings ratio of 3.91, a PEG ratio of 1.02 and a beta of 2.06.

Tenet Healthcare (NYSE:THC) last released its quarterly earnings results on Wednesday, February 12th. The company reported $3.44 earnings per share (EPS) for the quarter, topping the consensus estimate 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, equities analysts forecast that Tenet Healthcare Co. will post 12.24 EPS for the current fiscal 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.