Tenet Healthcare Co. (NYSE:THC) Shares Acquired by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. boosted its holdings in Tenet Healthcare Co. (NYSE:THC) by 41.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 8,731 shares of the company’s stock after buying an additional 2,544 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Tenet Healthcare were worth $1,102,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. American Century Companies Inc. raised its stake in Tenet Healthcare by 28.9% during the 2nd quarter. American Century Companies Inc. now owns 16,223 shares of the company’s stock worth $2,158,000 after acquiring an additional 3,641 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of Tenet Healthcare during the second quarter worth about $244,000. Benjamin F. Edwards & Company Inc. boosted its position in shares of Tenet Healthcare by 562.7% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 391 shares of the company’s stock valued at $52,000 after purchasing an additional 332 shares during the period. Canada Pension Plan Investment Board increased its position in Tenet Healthcare by 55.7% during the second quarter. Canada Pension Plan Investment Board now owns 12,300 shares of the company’s stock worth $1,636,000 after buying an additional 4,400 shares during the period. Finally, Sei Investments Co. boosted its holdings in shares of Tenet Healthcare by 9.8% in the second quarter. Sei Investments Co. now owns 64,054 shares of the company’s stock valued at $8,521,000 after acquiring an additional 5,714 shares during the period. 95.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Tenet Healthcare

In other Tenet Healthcare news, EVP Lisa Y. Foo sold 4,000 shares of the company’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $155.94, for a total value of $623,760.00. Following the transaction, the executive vice president now directly owns 15,566 shares in the company, valued at approximately $2,427,362.04. This represents a 20.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.93% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently commented on the stock. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $175.00 price target on shares of Tenet Healthcare in a research report on Tuesday, December 17th. The Goldman Sachs Group lowered Tenet Healthcare from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $196.00 to $140.00 in a report on Monday, December 16th. KeyCorp decreased their price objective 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. Cantor Fitzgerald boosted their target price on Tenet Healthcare from $168.00 to $177.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Finally, Raymond James lowered shares of Tenet Healthcare from a “strong-buy” rating to an “outperform” rating and set a $195.00 price objective on the stock. in a research report on Friday, November 22nd. Three investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $165.00.

Tenet Healthcare Stock Performance

Shares of THC stock opened at $135.50 on Friday. The company has a debt-to-equity ratio of 2.35, a quick ratio of 1.52 and a current ratio of 1.58. The stock has a market cap of $12.89 billion, a PE ratio of 4.34, a P/E/G ratio of 0.60 and a beta of 2.06. Tenet Healthcare Co. has a 1 year low of $80.53 and a 1 year high of $171.20. The stock has a fifty day moving average price of $134.94 and a 200 day moving average price of $147.98.

Tenet Healthcare (NYSE:THC) last posted its earnings results on Tuesday, October 29th. The company reported $2.93 earnings per share for the quarter, beating the consensus estimate of $2.33 by $0.60. The firm had revenue of $5.12 billion during the quarter, compared to the consensus estimate of $5.05 billion. Tenet Healthcare had a net margin of 14.91% and a return on equity of 24.05%. The firm’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same period last year, the firm posted $1.44 EPS. Sell-side analysts forecast that Tenet Healthcare Co. will post 11.37 earnings per share for the current fiscal 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.