Arrowstreet Capital Limited Partnership Has $223.91 Million Stake in Tenet Healthcare Co. (NYSE:THC)

Arrowstreet Capital Limited Partnership trimmed its stake in shares of Tenet Healthcare Co. (NYSE:THC) by 2.3% during the fourth quarter, Holdings Channel reports. The firm owned 1,773,791 shares of the company’s stock after selling 41,693 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Tenet Healthcare were worth $223,906,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. True Wealth Design LLC acquired a new position in Tenet Healthcare in the third quarter worth $38,000. WR Wealth Planners LLC grew its holdings in Tenet Healthcare by 2,836.4% during the 4th quarter. WR Wealth Planners LLC now owns 323 shares of the company’s stock worth $41,000 after acquiring an additional 312 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in shares of Tenet Healthcare by 30.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 471 shares of the company’s stock worth $59,000 after acquiring an additional 110 shares during the last quarter. Kestra Investment Management LLC bought a new stake in shares of Tenet Healthcare during the fourth quarter valued at approximately $60,000. Finally, Wilmington Savings Fund Society FSB raised its position in Tenet Healthcare by 1,352.8% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 523 shares of the company’s stock worth $66,000 after purchasing an additional 487 shares during the last quarter. 95.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Tenet Healthcare

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

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. TD Cowen began coverage on Tenet Healthcare in a research note on Wednesday, February 26th. They issued a “buy” rating and a $175.00 target price for the company. Morgan Stanley initiated coverage on Tenet Healthcare in a report on Wednesday, March 26th. They set an “overweight” rating and a $165.00 price objective for the company. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $175.00 target price on shares of Tenet Healthcare in a research note on Tuesday, December 17th. Cantor Fitzgerald restated an “overweight” rating and issued a $177.00 price objective on shares of Tenet Healthcare in a report on Thursday, February 13th. Finally, StockNews.com upgraded shares of Tenet Healthcare from a “hold” rating to a “buy” rating in a research report on Thursday, March 13th. Three investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Tenet Healthcare has a consensus rating of “Moderate Buy” and an average price target of $166.41.

Tenet Healthcare Trading Down 0.9 %

Shares of NYSE:THC opened at $133.17 on Monday. The firm 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 company has a quick ratio of 1.70, a current ratio of 1.78 and a debt-to-equity ratio of 2.25. Tenet Healthcare Co. has a 12 month low of $90.03 and a 12 month high of $171.20. The company’s fifty day simple moving average is $132.43 and its 200 day simple moving average is $142.31.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $3.44 earnings per share for the quarter, topping 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, research analysts forecast that Tenet Healthcare Co. will post 12.24 EPS for the current fiscal 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.