Mackenzie Financial Corp Has $18.44 Million Stock Position in Tenet Healthcare Co. (NYSE:THC)

Mackenzie Financial Corp reduced its position in Tenet Healthcare Co. (NYSE:THC - Free Report) by 11.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 146,080 shares of the company's stock after selling 18,972 shares during the period. Mackenzie Financial Corp owned about 0.15% of Tenet Healthcare worth $18,440,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Colonial Trust Co SC boosted its stake in shares of Tenet Healthcare by 85.7% during the 4th quarter. Colonial Trust Co SC now owns 247 shares of the company's stock worth $31,000 after acquiring an additional 114 shares during the period. GeoWealth Management LLC boosted its position in Tenet Healthcare by 39.8% during the fourth quarter. GeoWealth Management LLC now owns 295 shares of the company's stock worth $37,000 after purchasing an additional 84 shares during the period. WR Wealth Planners LLC increased its holdings in shares of Tenet Healthcare by 2,836.4% in the fourth quarter. WR Wealth Planners LLC now owns 323 shares of the company's stock valued at $41,000 after purchasing an additional 312 shares during the last quarter. Smartleaf Asset Management LLC lifted its stake in shares of 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 buying an additional 110 shares during the last quarter. Finally, Kestra Investment Management LLC bought a new stake in shares of Tenet Healthcare during the 4th quarter worth about $60,000. Institutional investors and hedge funds own 95.44% of the company's stock.

Insider Buying and Selling at Tenet Healthcare

In related news, Director James L. Bierman sold 4,613 shares of Tenet Healthcare stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $170.00, for a total transaction of $784,210.00. Following the sale, the director now directly owns 35,271 shares in the company, valued at $5,996,070. This trade represents a 11.57% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director J Robert Kerrey sold 9,525 shares of the firm's stock in a transaction 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 transaction, 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 disclosure for this sale can be found here. Over the last three months, insiders sold 55,072 shares of company stock worth $8,557,590. 0.81% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on THC. Barclays boosted their price objective on Tenet Healthcare from $161.00 to $171.00 and gave the stock an "overweight" rating in a report on Wednesday, April 30th. Guggenheim assumed coverage on Tenet Healthcare in a research report on Wednesday, April 9th. They set a "buy" rating and a $165.00 price objective on the stock. Morgan Stanley upped their price target on shares of Tenet Healthcare from $165.00 to $175.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. Baird R W downgraded shares of Tenet Healthcare from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 15th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $177.00 target price on shares of Tenet Healthcare in a report on Thursday, February 13th. Three equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $177.59.

Tenet Healthcare Price Performance

Shares of THC stock traded up $2.56 on Friday, reaching $168.82. The company had a trading volume of 2,250,200 shares, compared to its average volume of 1,516,611. The business's 50-day moving average is $140.71 and its 200 day moving average is $136.44. Tenet Healthcare Co. has a one year low of $109.82 and a one year high of $171.20. The company has a quick ratio of 1.70, a current ratio of 1.78 and a debt-to-equity ratio of 2.25. The stock has a market capitalization of $15.68 billion, a PE ratio of 5.24, a price-to-earnings-growth ratio of 1.02 and a beta of 1.63.

Tenet Healthcare (NYSE:THC - Get Free Report) last issued its earnings results on Tuesday, April 29th. The company reported $4.36 earnings per share for the quarter, beating analysts' consensus estimates of $3.11 by $1.25. The firm had revenue of $5.22 billion for the quarter, compared to analyst estimates of $5.15 billion. Tenet Healthcare had a net margin of 15.48% and a return on equity of 21.88%. The company's quarterly revenue was down 2.5% on a year-over-year basis. During the same quarter last year, the business posted $3.22 earnings per share. Equities 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.