Dorsey Wright & Associates Has $920,000 Stake in Tenet Healthcare Co. (NYSE:THC)

Dorsey Wright & Associates lessened its stake in Tenet Healthcare Co. (NYSE:THC) by 24.4% during the fourth quarter, Holdings Channel reports. The firm owned 7,291 shares of the company’s stock after selling 2,349 shares during the period. Dorsey Wright & Associates’ holdings in Tenet Healthcare were worth $920,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Norges Bank purchased a new position in Tenet Healthcare during the 4th quarter worth $190,819,000. Wealthfront Advisers LLC bought a new stake in Tenet Healthcare in the 4th quarter worth about $69,059,000. Geode Capital Management LLC lifted its position in shares of Tenet Healthcare by 23.6% during the 3rd quarter. Geode Capital Management LLC now owns 2,044,667 shares of the company’s stock worth $339,893,000 after buying an additional 390,316 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Tenet Healthcare in the 4th quarter worth approximately $49,001,000. Finally, Iron Triangle Partners LP purchased a new stake in shares of Tenet Healthcare during the third quarter valued at approximately $51,346,000. Institutional investors own 95.44% of the company’s stock.

Tenet Healthcare Stock Down 0.9 %

Shares of NYSE:THC opened at $133.17 on Friday. 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 one year low of $90.03 and a one year high of $171.20. The company has a market cap of $12.67 billion, a price-to-earnings ratio of 4.13, a PEG ratio of 1.02 and a beta of 2.06. The firm has a fifty day moving average price of $132.43 and a two-hundred day moving average price of $142.42.

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

Insider Buying and Selling at Tenet Healthcare

In other news, Director J Robert Kerrey sold 9,525 shares of Tenet Healthcare 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 sale, the director now directly owns 27,378 shares of the company’s stock, valued at approximately $3,434,022.54. The trade was a 25.81 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.93% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Cantor Fitzgerald restated 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 upgraded shares of Tenet Healthcare from a “hold” rating to a “buy” rating in a report on Thursday, March 13th. Truist Financial reduced their target price 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. The Goldman Sachs Group downgraded Tenet Healthcare from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $196.00 to $140.00 in a research note on Monday, December 16th. Finally, Barclays lowered their target price on Tenet Healthcare from $190.00 to $161.00 and set an “overweight” rating on the stock in a research note on Thursday, February 13th. Three analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Tenet Healthcare has a consensus rating of “Moderate Buy” and an average target price of $166.41.

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.