Oregon Public Employees Retirement Fund Sells 160 Shares of Tenet Healthcare Co. (NYSE:THC)

Oregon Public Employees Retirement Fund lessened its stake in Tenet Healthcare Co. (NYSE:THC) by 0.8% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 19,342 shares of the company’s stock after selling 160 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Tenet Healthcare were worth $2,442,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. FMR LLC grew its position in shares of Tenet Healthcare by 88.0% in the 3rd quarter. FMR LLC now owns 7,700,693 shares of the company’s stock valued at $1,279,855,000 after buying an additional 3,604,161 shares during the last quarter. Geode Capital Management LLC boosted 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 valued at $339,893,000 after purchasing an additional 390,316 shares in the last quarter. Allianz Asset Management GmbH boosted its position in shares of Tenet Healthcare by 15.1% during the 4th quarter. Allianz Asset Management GmbH now owns 577,143 shares of the company’s stock valued at $72,853,000 after purchasing an additional 75,688 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of Tenet Healthcare by 11.9% during the 3rd quarter. Franklin Resources Inc. now owns 457,704 shares of the company’s stock valued at $71,077,000 after purchasing an additional 48,580 shares in the last quarter. Finally, Point72 Asset Management L.P. boosted its position in shares of Tenet Healthcare by 32.0% during the 3rd quarter. Point72 Asset Management L.P. now owns 442,949 shares of the company’s stock valued at $73,618,000 after purchasing an additional 107,290 shares in the last quarter. Institutional investors own 95.44% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on THC shares. TD Cowen started coverage on Tenet Healthcare in a research report on Wednesday. They set a “buy” rating and a $175.00 target price on the stock. KeyCorp cut their target price 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. The Goldman Sachs Group lowered Tenet Healthcare from a “buy” rating to a “neutral” rating and cut their price target for the stock from $196.00 to $140.00 in a report on Monday, December 16th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $177.00 price target on shares of Tenet Healthcare in a report on Thursday, February 13th. Finally, Barclays cut their price target on Tenet Healthcare from $190.00 to $161.00 and set an “overweight” rating on the stock in a report on Thursday, February 13th. Three equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $163.88.

Tenet Healthcare Stock Performance

Shares of THC opened at $130.48 on Friday. The company has a market capitalization of $12.41 billion, a price-to-earnings ratio of 4.05, a PEG ratio of 1.02 and a beta of 2.05. Tenet Healthcare Co. has a 12 month low of $88.98 and a 12 month high of $171.20. The stock has a 50 day moving average of $133.09 and a 200 day moving average of $147.25. The company has a current ratio of 1.78, a quick ratio of 1.70 and a debt-to-equity ratio of 2.25.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $3.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.95 by $0.49. Tenet Healthcare had a return on equity of 21.88% and a net margin of 15.48%. As a group, sell-side analysts forecast that Tenet Healthcare Co. will post 12.24 earnings per share for the current 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.