Teacher Retirement System of Texas Reduces Holdings in Tenet Healthcare Corporation (NYSE:THC)

Teacher Retirement System of Texas trimmed its holdings in Tenet Healthcare Corporation (NYSE:THC - Free Report) by 12.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,677 shares of the company's stock after selling 8,842 shares during the quarter. Teacher Retirement System of Texas owned about 0.06% of Tenet Healthcare worth $8,027,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of THC. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in Tenet Healthcare during the 1st quarter valued at about $26,000. Colonial Trust Co SC increased its stake in Tenet Healthcare by 85.7% during the 4th quarter. Colonial Trust Co SC now owns 247 shares of the company's stock valued at $31,000 after purchasing an additional 114 shares in the last quarter. GeoWealth Management LLC increased its stake 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 purchasing an additional 84 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in Tenet Healthcare by 30.5% during 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, Versant Capital Management Inc increased its stake in Tenet Healthcare by 46.2% during the 1st quarter. Versant Capital Management Inc now owns 718 shares of the company's stock valued at $97,000 after purchasing an additional 227 shares in the last quarter. 95.44% of the stock is currently owned by institutional investors.

Tenet Healthcare Price Performance

NYSE:THC traded up $0.13 during trading hours on Tuesday, hitting $173.22. 230,964 shares of the stock traded hands, compared to its average volume of 1,568,348. The company has a quick ratio of 1.70, a current ratio of 1.78 and a debt-to-equity ratio of 2.23. Tenet Healthcare Corporation has a 1 year low of $109.82 and a 1 year high of $178.76. The company has a market cap of $16.09 billion, a price-to-earnings ratio of 11.46, a price-to-earnings-growth ratio of 1.25 and a beta of 1.64. The stock has a 50 day moving average price of $163.57 and a 200 day moving average price of $141.40.

Tenet Healthcare (NYSE:THC - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $4.36 earnings per share for the quarter, beating 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 business had revenue of $5.22 billion for the quarter, compared to the consensus estimate of $5.15 billion. During the same quarter in the previous year, the firm earned $3.22 earnings per share. The company's revenue for the quarter was down 2.5% on a year-over-year basis. Sell-side analysts forecast that Tenet Healthcare Corporation will post 12.24 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on THC. Wells Fargo & Company raised shares of Tenet Healthcare from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $150.00 to $195.00 in a report on Thursday, May 29th. Barclays raised their price target on shares of Tenet Healthcare from $171.00 to $215.00 and gave the company an "overweight" rating in a report on Monday, June 2nd. Royal Bank Of Canada raised their price target 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. Robert W. Baird reaffirmed a "neutral" rating and set a $137.00 price target (down previously from $153.00) on shares of Tenet Healthcare in a report on Tuesday, April 15th. Finally, Baird R W downgraded shares of Tenet Healthcare from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 15th. Three investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $183.94.

Insider Activity

In other news, Director J Robert Kerrey sold 1,222 shares of Tenet Healthcare stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $164.96, for a total transaction of $201,581.12. Following the sale, the director owned 22,377 shares in the company, valued at $3,691,309.92. This trade represents a 5.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Richard W. Fisher sold 836 shares of the business's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $173.16, for a total transaction of $144,761.76. Following the completion of the sale, the director owned 11,292 shares in the company, valued at $1,955,322.72. This represents a 6.89% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 54,121 shares of company stock valued at $8,846,305. Company 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.