Bamco Inc. NY Sells 9,500 Shares of Tenet Healthcare Co. (NYSE:THC)

Bamco Inc. NY decreased its holdings in shares of Tenet Healthcare Co. (NYSE:THC - Free Report) by 38.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,500 shares of the company's stock after selling 9,500 shares during the period. Bamco Inc. NY's holdings in Tenet Healthcare were worth $1,957,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. EverSource Wealth Advisors LLC lifted its stake in shares of Tenet Healthcare by 9.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 940 shares of the company's stock worth $119,000 after buying an additional 80 shares during the last quarter. GeoWealth Management LLC boosted its holdings in Tenet Healthcare by 39.8% during the fourth quarter. GeoWealth Management LLC now owns 295 shares of the company's stock valued at $37,000 after acquiring an additional 84 shares during the period. Spire Wealth Management grew its position in shares of Tenet Healthcare by 19.5% in the fourth quarter. Spire Wealth Management now owns 558 shares of the company's stock valued at $70,000 after purchasing an additional 91 shares during the last quarter. CIBC Private Wealth Group LLC boosted its stake in Tenet Healthcare by 1.7% during the 4th quarter. CIBC Private Wealth Group LLC now owns 5,619 shares of the company's stock valued at $732,000 after purchasing an additional 92 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its position in shares of Tenet Healthcare by 1.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 8,109 shares of the company's stock valued at $1,024,000 after acquiring an additional 100 shares during the period. 95.44% of the stock is currently owned by institutional investors.

Tenet Healthcare Price Performance

Shares of NYSE THC traded down $0.26 during trading on Friday, reaching $148.80. The company had a trading volume of 966,210 shares, compared to its average volume of 1,537,293. The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.70 and a current ratio of 1.78. The business's 50 day moving average price is $129.38 and its 200-day moving average price is $136.09. Tenet Healthcare Co. has a 52 week low of $109.82 and a 52 week high of $171.20. The stock has a market cap of $13.82 billion, a PE ratio of 4.62, a PEG ratio of 1.02 and a beta of 1.63.

Tenet Healthcare (NYSE:THC - Get Free Report) last released its earnings results on Tuesday, April 29th. The company reported $4.36 earnings per share for the quarter, topping analysts' consensus estimates of $3.11 by $1.25. The company had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $5.15 billion. Tenet Healthcare had a return on equity of 21.88% and a net margin of 15.48%. The firm's quarterly revenue was down 2.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.22 earnings per share. Analysts expect that Tenet Healthcare Co. will post 12.24 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on THC shares. Cantor Fitzgerald restated an "overweight" rating and set a $177.00 price objective on shares of Tenet Healthcare in a report on Thursday, February 13th. Royal Bank of Canada raised their price objective on Tenet Healthcare from $183.00 to $189.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 30th. Barclays boosted their price objective on Tenet Healthcare from $161.00 to $171.00 and gave the company an "overweight" rating in a research report on Wednesday, April 30th. Baird R W downgraded shares of Tenet Healthcare from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 15th. Finally, UBS Group increased their price objective on shares of Tenet Healthcare from $217.00 to $230.00 and gave the company a "buy" rating in a research note on Wednesday, April 30th. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $173.69.

Insider Transactions at Tenet Healthcare

In related news, Director J Robert Kerrey sold 9,525 shares of the business's stock in a transaction that occurred 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 transaction, the director now owns 27,378 shares in the company, valued at approximately $3,434,022.54. The trade was a 25.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.81% of the stock is owned by corporate insiders.

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.