Quantinno Capital Management LP Decreases Position in Tenet Healthcare Co. (NYSE:THC)

Quantinno Capital Management LP lessened its stake in Tenet Healthcare Co. (NYSE:THC - Free Report) by 13.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 35,113 shares of the company's stock after selling 5,559 shares during the quarter. Quantinno Capital Management LP's holdings in Tenet Healthcare were worth $4,432,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of THC. Colonial Trust Co SC lifted its stake in Tenet Healthcare by 85.7% in the 4th quarter. Colonial Trust Co SC now owns 247 shares of the company's stock valued at $31,000 after buying an additional 114 shares in the last quarter. GeoWealth Management LLC lifted its position in shares of Tenet Healthcare by 39.8% in 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 in the last quarter. WR Wealth Planners LLC raised its stake in Tenet Healthcare by 2,836.4% in the 4th 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 holdings in Tenet Healthcare by 30.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 471 shares of the company's stock valued at $59,000 after purchasing an additional 110 shares in the last quarter. Finally, Kestra Investment Management LLC purchased a new stake in shares of Tenet Healthcare during the fourth quarter worth $60,000. Institutional investors and hedge funds own 95.44% of the company's stock.

Wall Street Analysts Forecast Growth

THC has been the subject of a number of recent research reports. Morgan Stanley increased their price objective on shares of Tenet Healthcare from $165.00 to $175.00 and gave the company an "overweight" rating in a report on Monday, May 5th. Bank of America increased their price target on Tenet Healthcare from $165.00 to $180.00 and gave the company a "buy" rating in a report on Wednesday, May 14th. Barclays upped their target price on Tenet Healthcare from $161.00 to $171.00 and gave the company an "overweight" rating in a report on Wednesday, April 30th. The Goldman Sachs Group upped their price objective on shares of Tenet Healthcare from $134.00 to $154.00 and gave the company a "neutral" rating in a report on Monday, May 5th. Finally, Robert W. Baird reaffirmed a "neutral" rating and set a $137.00 target price (down from $153.00) on shares of Tenet Healthcare in a research note on Tuesday, April 15th. Five research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, Tenet Healthcare presently has a consensus rating of "Moderate Buy" and a consensus price target of $174.94.

Tenet Healthcare Trading Down 1.1%

Tenet Healthcare stock traded down $1.73 during midday trading on Thursday, reaching $161.10. 857,987 shares of the stock traded hands, compared to its average volume of 1,534,835. The firm has a market cap of $14.96 billion, a PE ratio of 5.00, a price-to-earnings-growth ratio of 1.02 and a beta of 1.63. The company has a current ratio of 1.78, a quick ratio of 1.70 and a debt-to-equity ratio of 2.25. The company has a 50-day simple moving average of $135.48 and a two-hundred day simple moving average of $136.64. Tenet Healthcare Co. has a 12-month low of $109.82 and a 12-month high of $171.20.

Tenet Healthcare (NYSE:THC - Get Free Report) last announced its quarterly earnings data 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 during the quarter, compared to analysts' expectations of $5.15 billion. Tenet Healthcare had a net margin of 15.48% and a return on equity of 21.88%. The business's quarterly revenue was down 2.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.22 earnings per share. Research analysts expect that Tenet Healthcare Co. will post 12.24 earnings per share for the current fiscal year.

Insider Activity

In other Tenet Healthcare news, Director J Robert Kerrey sold 5,001 shares of the stock in a transaction dated 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 now owns 22,377 shares of the company's stock, valued at $3,322,984.50. This trade represents a 18.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Paola M. Arbour sold 6,461 shares of the firm's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $160.20, for a total transaction of $1,035,052.20. Following the completion of the sale, the executive vice president now directly owns 27,848 shares in the company, valued at approximately $4,461,249.60. This trade represents a 18.83% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,987 shares of company stock worth $2,972,421. Corporate insiders own 0.81% of the company's stock.

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.