California State Teachers Retirement System Reduces Stake in Tenet Healthcare Co. (NYSE:THC)

California State Teachers Retirement System cut its position in shares of Tenet Healthcare Co. (NYSE:THC - Free Report) by 3.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 89,610 shares of the company's stock after selling 3,621 shares during the period. California State Teachers Retirement System owned approximately 0.09% of Tenet Healthcare worth $11,311,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Colonial Trust Co SC grew its stake in shares of Tenet Healthcare by 85.7% during the fourth quarter. Colonial Trust Co SC now owns 247 shares of the company's stock valued at $31,000 after buying an additional 114 shares during the last quarter. GeoWealth Management LLC grew its position in Tenet Healthcare by 39.8% in the 4th quarter. GeoWealth Management LLC now owns 295 shares of the company's stock valued at $37,000 after acquiring an additional 84 shares during the last quarter. WR Wealth Planners LLC lifted its position in shares of Tenet Healthcare by 2,836.4% during the fourth quarter. WR Wealth Planners LLC now owns 323 shares of the company's stock worth $41,000 after purchasing an additional 312 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of Tenet Healthcare by 30.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 471 shares of the company's stock valued at $59,000 after purchasing an additional 110 shares during the period. Finally, Kestra Investment Management LLC bought a new position in shares of Tenet Healthcare in the fourth quarter worth about $60,000. 95.44% of the stock is currently owned by institutional investors.

Tenet Healthcare Stock Up 0.8%

Shares of NYSE THC traded up $1.41 during trading hours on Monday, hitting $170.18. 1,989,401 shares of the stock were exchanged, compared to its average volume of 1,532,575. The company has a market cap of $15.81 billion, a PE ratio of 5.28, a PEG ratio of 1.02 and a beta of 1.63. Tenet Healthcare Co. has a 12 month low of $109.82 and a 12 month 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 firm has a fifty day moving average price of $140.71 and a 200-day moving average price of $136.26.

Tenet Healthcare (NYSE:THC - Get Free Report) last posted its quarterly earnings data 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. Tenet Healthcare had a return on equity of 21.88% and a net margin of 15.48%. The firm had revenue of $5.22 billion during the quarter, compared to analysts' expectations of $5.15 billion. During the same quarter last year, the firm earned $3.22 EPS. The business's quarterly revenue was down 2.5% on a year-over-year basis. On average, sell-side analysts expect that Tenet Healthcare Co. will post 12.24 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Robert W. Baird reissued a "neutral" rating and issued a $137.00 price objective (down from $153.00) on shares of Tenet Healthcare in a research report on Tuesday, April 15th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $177.00 price target on shares of Tenet Healthcare in a report on Thursday, February 13th. Baird R W downgraded Tenet Healthcare from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 15th. Royal Bank of Canada upped their target price on Tenet Healthcare from $183.00 to $189.00 and gave the stock an "outperform" rating in a report on Wednesday, April 30th. Finally, Wall Street Zen upgraded Tenet Healthcare from a "hold" rating to a "buy" rating in a report on Friday. Three investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Tenet Healthcare currently has a consensus rating of "Moderate Buy" and a consensus target price of $180.18.

Insider Transactions at Tenet Healthcare

In other news, Director James L. Bierman sold 13,836 shares of the business's stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $159.58, for a total transaction of $2,207,948.88. Following the sale, the director now directly owns 41,435 shares of the company's stock, valued at $6,612,197.30. The trade was a 25.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director J Robert Kerrey sold 5,001 shares of the firm's 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 completion of the transaction, 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 55,072 shares of company stock worth $8,557,590. Insiders own 0.81% of the company's stock.

About Tenet Healthcare

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.