Tenet Healthcare Corporation (NYSE:THC) Shares Sold by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. trimmed its stake in Tenet Healthcare Corporation (NYSE:THC - Free Report) by 89.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 957 shares of the company's stock after selling 8,521 shares during the period. Asset Management One Co. Ltd.'s holdings in Tenet Healthcare were worth $129,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC boosted its holdings in shares of Tenet Healthcare by 9.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 940 shares of the company's stock valued at $119,000 after buying an additional 80 shares in the last quarter. GeoWealth Management LLC increased its position in Tenet Healthcare by 39.8% during the 4th quarter. GeoWealth Management LLC now owns 295 shares of the company's stock valued at $37,000 after buying an additional 84 shares in the last quarter. CIBC Private Wealth Group LLC grew its stake in shares of Tenet Healthcare by 1.7% during the fourth quarter. CIBC Private Wealth Group LLC now owns 5,619 shares of the company's stock worth $732,000 after acquiring an additional 92 shares during the last quarter. Prudential PLC raised its position in shares of Tenet Healthcare by 0.7% in the 4th quarter. Prudential PLC now owns 15,344 shares of the company's stock valued at $1,937,000 after purchasing an additional 107 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its position in Tenet Healthcare by 30.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 471 shares of the company's stock worth $59,000 after purchasing an additional 110 shares during the last quarter. Institutional investors own 95.44% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on THC shares. Bank of America lifted their price objective on shares of Tenet Healthcare from $165.00 to $180.00 and gave the stock a "buy" rating in a research note on Wednesday, May 14th. Morgan Stanley lifted their price target on Tenet Healthcare from $175.00 to $210.00 and gave the stock an "overweight" rating in a research report on Monday, June 9th. Robert W. Baird reissued a "neutral" rating and issued a $137.00 price objective (down from $153.00) on shares of Tenet Healthcare in a report on Tuesday, April 15th. UBS Group lifted their target price on Tenet Healthcare from $217.00 to $230.00 and gave the stock a "buy" rating in a report on Wednesday, April 30th. Finally, Stephens upgraded shares of Tenet Healthcare to a "strong-buy" rating in a report on Monday, June 2nd. Three equities research 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 stock. Based on data from MarketBeat, Tenet Healthcare presently has an average rating of "Moderate Buy" and a consensus price target of $183.94.

Insiders Place Their Bets

In other news, Director J Robert Kerrey sold 1,222 shares of the stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $164.96, for a total transaction of $201,581.12. Following the transaction, the director owned 22,377 shares in the company, valued at $3,691,309.92. This trade represents a 5.18% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Thomas W. Arnst sold 9,786 shares of the company's stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $166.00, for a total transaction of $1,624,476.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 54,121 shares of company stock valued at $8,846,305. 0.81% of the stock is owned by insiders.

Tenet Healthcare Stock Performance

Shares of THC traded down $4.04 during trading hours on Wednesday, hitting $173.39. The stock had a trading volume of 212,777 shares, compared to its average volume of 1,576,875. The firm has a 50-day moving average price of $159.63 and a 200 day moving average price of $140.15. Tenet Healthcare Corporation has a fifty-two week low of $109.82 and a fifty-two week high of $178.76. The firm has a market capitalization of $16.11 billion, a price-to-earnings ratio of 11.47, a PEG ratio of 1.28 and a beta of 1.65. The company has a debt-to-equity ratio of 2.23, a quick ratio of 1.70 and a current ratio of 1.78.

Tenet Healthcare (NYSE:THC - Get Free Report) last issued its quarterly earnings data 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. Tenet Healthcare had a net margin of 7.09% and a return on equity of 22.58%. The business had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $5.15 billion. During the same quarter in the prior year, the firm posted $3.22 earnings per share. The company's revenue was down 2.5% compared to the same quarter last year. As a group, research analysts anticipate that Tenet Healthcare Corporation will post 12.24 EPS 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.