Tenet Healthcare Corporation (NYSE:THC) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System decreased its stake in shares of Tenet Healthcare Corporation (NYSE:THC - Free Report) by 5.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 102,269 shares of the company's stock after selling 5,507 shares during the quarter. New York State Teachers Retirement System owned about 0.11% of Tenet Healthcare worth $13,755,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. EverSource Wealth Advisors LLC increased 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 acquiring an additional 80 shares during the period. 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 worth $37,000 after buying an additional 84 shares in the last quarter. CIBC Private Wealth Group LLC boosted its holdings in 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 buying an additional 92 shares in the last quarter. Prudential PLC boosted its holdings in Tenet Healthcare by 0.7% during the fourth quarter. Prudential PLC now owns 15,344 shares of the company's stock worth $1,937,000 after buying an additional 107 shares in the last quarter. Finally, Smartleaf Asset Management LLC boosted its holdings in Tenet Healthcare by 30.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 471 shares of the company's stock worth $59,000 after buying an additional 110 shares in the last quarter. Institutional investors and hedge funds own 95.44% of the company's stock.

Insider Activity

In other Tenet Healthcare news, EVP Paola M. Arbour sold 7,738 shares of Tenet Healthcare stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $173.00, for a total transaction of $1,338,674.00. Following the completion of the sale, the executive vice president directly owned 20,110 shares in the company, valued at $3,479,030. This trade represents a 27.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James L. Bierman sold 4,613 shares of Tenet Healthcare stock in a transaction dated 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 owned 35,271 shares of the company's stock, valued at approximately $5,996,070. This represents a 11.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 54,121 shares of company stock valued at $8,846,305 in the last quarter. Insiders own 0.81% of the company's stock.

Tenet Healthcare Trading Down 0.4%

Tenet Healthcare stock traded down $0.72 during midday trading on Friday, hitting $171.50. 977,101 shares of the stock were exchanged, compared to its average volume of 1,811,943. Tenet Healthcare Corporation has a fifty-two week low of $109.82 and a fifty-two week high of $178.76. The stock has a market capitalization of $15.93 billion, a price-to-earnings ratio of 11.34, a PEG ratio of 1.25 and a beta of 1.64. The stock's 50-day simple moving average is $162.58 and its 200 day simple moving average is $140.99. The company has a current ratio of 1.78, a quick ratio of 1.70 and a debt-to-equity ratio of 2.23.

Tenet Healthcare (NYSE:THC - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The company reported $4.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.11 by $1.25. Tenet Healthcare had a net margin of 7.09% and a return on equity of 22.58%. The firm had revenue of $5.22 billion during the quarter, compared to analysts' expectations of $5.15 billion. During the same period last year, the business earned $3.22 earnings per share. Tenet Healthcare's revenue was down 2.5% compared to the same quarter last year. On average, equities analysts anticipate that Tenet Healthcare Corporation will post 12.24 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on THC. Guggenheim began coverage on shares of Tenet Healthcare in a report on Wednesday, April 9th. They set a "buy" rating and a $165.00 price objective on the stock. Robert W. Baird reaffirmed a "neutral" rating and set a $137.00 price objective (down from $153.00) on shares of Tenet Healthcare in a report on Tuesday, April 15th. Bank of America increased their price objective on shares of Tenet Healthcare from $165.00 to $180.00 and gave the company a "buy" rating in a report on Wednesday, May 14th. Royal Bank Of Canada increased their price objective on shares of Tenet Healthcare from $183.00 to $189.00 and gave the company an "outperform" rating in a report on Wednesday, April 30th. Finally, Wall Street Zen raised shares of Tenet Healthcare from a "hold" rating to a "buy" rating in a report on Sunday, June 15th. Three analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $183.94.

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.