Brandywine Global Investment Management LLC Sells 3,503 Shares of Tenet Healthcare Co. (NYSE:THC)

Brandywine Global Investment Management LLC cut its stake in Tenet Healthcare Co. (NYSE:THC) by 6.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 51,681 shares of the company’s stock after selling 3,503 shares during the quarter. Brandywine Global Investment Management LLC’s holdings in Tenet Healthcare were worth $6,524,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in THC. Townsquare Capital LLC bought a new position in shares of Tenet Healthcare in the third quarter valued at approximately $384,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Tenet Healthcare by 57.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,714 shares of the company’s stock valued at $5,105,000 after purchasing an additional 11,214 shares in the last quarter. Hantz Financial Services Inc. bought a new position in shares of Tenet Healthcare in the third quarter worth $83,000. Captrust Financial Advisors boosted its stake in Tenet Healthcare by 80.7% during the third quarter. Captrust Financial Advisors now owns 2,747 shares of the company’s stock valued at $456,000 after buying an additional 1,227 shares during the period. Finally, PDT Partners LLC bought a new position in Tenet Healthcare in the 3rd quarter worth about $416,000. Institutional investors own 95.44% of the company’s stock.

Insider Buying and Selling

In other news, Director J Robert Kerrey sold 9,525 shares of the firm’s 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 directly owns 27,378 shares of the company’s stock, valued at approximately $3,434,022.54. This trade represents a 25.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.93% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

THC has been the subject of several recent analyst reports. Cantor Fitzgerald reissued an “overweight” rating and set a $177.00 price objective on shares of Tenet Healthcare in a report on Thursday, February 13th. Truist Financial decreased their price target 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. The Goldman Sachs Group lowered shares of Tenet Healthcare from a “buy” rating to a “neutral” rating and cut their target price for the stock from $196.00 to $140.00 in a research report on Monday, December 16th. KeyCorp lowered their price target on Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating and set a $175.00 price objective on shares of Tenet Healthcare in a research report on Tuesday, December 17th. Three equities research 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 company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $166.41.

Tenet Healthcare Trading Down 0.7 %

NYSE:THC opened at $133.55 on Wednesday. The firm has a market capitalization of $12.70 billion, a P/E ratio of 4.14, a P/E/G ratio of 1.02 and a beta of 2.06. Tenet Healthcare Co. has a 52 week low of $90.03 and a 52 week high of $171.20. The company has a quick ratio of 1.70, a current ratio of 1.78 and a debt-to-equity ratio of 2.25. The company has a fifty day moving average of $132.49 and a 200 day moving average of $141.94.

Tenet Healthcare (NYSE:THC) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $3.44 earnings per share (EPS) for the quarter, beating 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%. On average, research analysts predict that Tenet Healthcare Co. will post 12.24 earnings per share for the current 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.