Tenet Healthcare Corporation (NYSE:THC) Shares Sold by New Mexico Educational Retirement Board

New Mexico Educational Retirement Board lessened its position in Tenet Healthcare Corporation (NYSE:THC - Free Report) by 7.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,900 shares of the company's stock after selling 1,500 shares during the quarter. New Mexico Educational Retirement Board's holdings in Tenet Healthcare were worth $2,542,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in THC. Proficio Capital Partners LLC purchased a new stake in Tenet Healthcare during the 4th quarter worth approximately $5,832,000. Raymond James Financial Inc. acquired a new stake in shares of Tenet Healthcare in the fourth quarter valued at about $49,001,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Tenet Healthcare by 5.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 32,370 shares of the company's stock valued at $4,086,000 after purchasing an additional 1,656 shares during the period. Moran Wealth Management LLC grew its holdings in shares of Tenet Healthcare by 18.2% in the fourth quarter. Moran Wealth Management LLC now owns 2,439 shares of the company's stock valued at $308,000 after purchasing an additional 375 shares during the period. Finally, Daiwa Securities Group Inc. purchased a new position in Tenet Healthcare during the fourth quarter worth about $252,000. Institutional investors own 95.44% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Wall Street Zen raised shares of Tenet Healthcare from a "hold" rating to a "buy" rating in a research note on Sunday, June 15th. Royal Bank Of Canada boosted their price objective on shares of Tenet Healthcare from $183.00 to $189.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 30th. Morgan Stanley lifted their target price on shares of Tenet Healthcare from $175.00 to $210.00 and gave the company an "overweight" rating in a report on Monday, June 9th. UBS Group lifted their target price on shares of Tenet Healthcare from $217.00 to $230.00 and gave the company a "buy" rating in a report on Wednesday, April 30th. Finally, Baird R W cut shares of Tenet Healthcare from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 15th. Three research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $184.53.

Insider Activity at Tenet Healthcare

In other Tenet Healthcare news, Director J Robert Kerrey sold 5,001 shares of the stock in a transaction on Friday, May 9th. The stock was sold at an average price of $148.50, for a total value of $742,648.50. Following the sale, the director directly owned 22,377 shares of the company's stock, valued at $3,322,984.50. This trade represents a 18.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Richard W. Fisher sold 3,077 shares of the firm's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $165.72, for a total value of $509,920.44. Following the transaction, the director directly owned 12,128 shares in the company, valued at $2,009,852.16. This trade represents a 20.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 54,121 shares of company stock worth $8,846,305. 0.81% of the stock is currently owned by insiders.

Tenet Healthcare Stock Up 1.2%

NYSE THC traded up $2.11 on Friday, reaching $175.77. The company had a trading volume of 946,825 shares, compared to its average volume of 1,479,983. The firm has a market capitalization of $16.33 billion, a PE ratio of 11.63, a P/E/G ratio of 1.27 and a beta of 1.64. Tenet Healthcare Corporation has a 1 year low of $109.82 and a 1 year high of $178.76. The firm has a 50-day moving average of $165.94 and a 200-day moving average of $142.45. The company has a debt-to-equity ratio of 2.23, a current ratio of 1.78 and a quick ratio of 1.70.

Tenet Healthcare (NYSE:THC - Get Free Report) last released its quarterly 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 firm had revenue of $5.22 billion during the quarter, compared to analysts' expectations of $5.15 billion. Tenet Healthcare had a return on equity of 22.58% and a net margin of 7.09%. Tenet Healthcare's quarterly revenue was down 2.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.22 EPS. On average, equities research analysts anticipate that Tenet Healthcare Corporation 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.