Tenet Healthcare Co. (NYSE:THC) Shares Bought by Prudential Financial Inc.

Prudential Financial Inc. increased its position in shares of Tenet Healthcare Co. (NYSE:THC) by 8.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 121,509 shares of the company’s stock after acquiring an additional 9,602 shares during the period. Prudential Financial Inc.’s holdings in Tenet Healthcare were worth $15,338,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of THC. Pathstone Holdings LLC lifted its stake in Tenet Healthcare by 2.7% during the third quarter. Pathstone Holdings LLC now owns 8,973 shares of the company’s stock valued at $1,491,000 after purchasing an additional 233 shares during the last quarter. Great Valley Advisor Group Inc. acquired a new stake in shares of Tenet Healthcare during the 3rd quarter valued at $231,000. Cerity Partners LLC boosted its stake in shares of Tenet Healthcare by 67.2% during the 3rd quarter. Cerity Partners LLC now owns 31,056 shares of the company’s stock worth $5,162,000 after acquiring an additional 12,480 shares in the last quarter. Swedbank AB acquired a new stake in shares of Tenet Healthcare during the third quarter worth $3,324,000. Finally, Centaurus Financial Inc. boosted its position in shares of Tenet Healthcare by 65.4% in the 3rd quarter. Centaurus Financial Inc. now owns 1,671 shares of the company’s stock valued at $278,000 after purchasing an additional 661 shares during the period. 95.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Morgan Stanley began coverage on Tenet Healthcare in a report on Wednesday. They set an “overweight” rating and a $165.00 price objective on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $177.00 price objective on shares of Tenet Healthcare in a research note on Thursday, February 13th. StockNews.com raised shares of Tenet Healthcare from a “hold” rating to a “buy” rating in a research note 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, JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $175.00 target price on shares of Tenet Healthcare in a report on Tuesday, December 17th. Three research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $166.41.

Tenet Healthcare Price Performance

Shares of NYSE:THC opened at $134.41 on Friday. The business has a 50-day moving average of $132.38 and a two-hundred day moving average of $142.64. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.78 and a quick ratio of 1.70. Tenet Healthcare Co. has a fifty-two week low of $90.03 and a fifty-two week high of $171.20. The stock has a market capitalization of $12.79 billion, a P/E ratio of 4.17, a P/E/G ratio of 1.02 and a beta of 2.06.

Tenet Healthcare (NYSE:THC) last announced its earnings results on Wednesday, February 12th. The company reported $3.44 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 research analysts predict that Tenet Healthcare Co. will post 12.24 EPS for the current fiscal year.

Insider Activity

In related news, Director J Robert Kerrey sold 9,525 shares of the 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 completion of the sale, the director now 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.93% of the stock is owned by company 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.