Tenet Healthcare Corporation (NYSE:THC) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. lessened its position in Tenet Healthcare Corporation (NYSE:THC - Free Report) by 1.6% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 9,917,642 shares of the company's stock after selling 157,153 shares during the period. Vanguard Group Inc. owned approximately 10.68% of Tenet Healthcare worth $1,333,923,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in THC. Dimensional Fund Advisors LP lifted its holdings in Tenet Healthcare by 22.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,493,532 shares of the company's stock valued at $188,524,000 after acquiring an additional 272,906 shares during the period. AQR Capital Management LLC lifted its stake in shares of Tenet Healthcare by 20.8% in the fourth quarter. AQR Capital Management LLC now owns 872,117 shares of the company's stock valued at $110,087,000 after purchasing an additional 150,361 shares during the period. Northern Trust Corp boosted its holdings in Tenet Healthcare by 22.0% during the fourth quarter. Northern Trust Corp now owns 848,049 shares of the company's stock worth $107,049,000 after buying an additional 152,671 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Tenet Healthcare by 1.6% in the first quarter. Bank of New York Mellon Corp now owns 815,126 shares of the company's stock valued at $109,634,000 after buying an additional 13,057 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its position in shares of Tenet Healthcare by 45.2% during the 1st quarter. Victory Capital Management Inc. now owns 736,252 shares of the company's stock valued at $99,026,000 after acquiring an additional 229,197 shares during the period. Hedge funds and other institutional investors own 95.44% of the company's stock.

Insider Buying and Selling

In other news, Director Richard W. Fisher sold 3,077 shares of the business's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $165.72, for a total transaction of $509,920.44. Following the completion of the sale, the director owned 12,128 shares in the company, valued at approximately $2,009,852.16. The trade was a 20.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director J Robert Kerrey sold 1,222 shares of the firm's 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 completion of the transaction, the director owned 22,377 shares in the company, valued at $3,691,309.92. The trade was a 5.18% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 49,120 shares of company stock worth $8,103,656. Corporate insiders own 0.81% of the company's stock.

Wall Street Analyst Weigh In

THC has been the subject of several research analyst reports. Bank of America raised their price objective on Tenet Healthcare from $165.00 to $180.00 and gave the company a "buy" rating in a research note on Wednesday, May 14th. Wolfe Research lowered shares of Tenet Healthcare from an "outperform" rating to a "peer perform" rating in a research report on Monday, July 28th. Robert W. Baird dropped their target price on shares of Tenet Healthcare from $195.00 to $167.00 and set a "neutral" rating for the company in a report on Friday, July 25th. The Goldman Sachs Group upped their price target 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, UBS Group raised their price objective on shares of Tenet Healthcare from $230.00 to $238.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Four investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Tenet Healthcare currently has an average rating of "Moderate Buy" and a consensus price target of $191.56.

Tenet Healthcare Trading Up 2.3%

Shares of THC traded up $3.80 during mid-day trading on Tuesday, hitting $170.43. The company had a trading volume of 806,976 shares, compared to its average volume of 1,706,210. Tenet Healthcare Corporation has a 1-year low of $109.82 and a 1-year high of $185.25. The company has a quick ratio of 1.63, a current ratio of 1.71 and a debt-to-equity ratio of 2.39. The business's 50-day simple moving average is $167.11 and its 200-day simple moving average is $147.78. The stock has a market cap of $15.06 billion, a PE ratio of 10.91, a P/E/G ratio of 0.71 and a beta of 1.52.

Tenet Healthcare (NYSE:THC - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The company reported $4.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.84 by $1.18. The company had revenue of $5.27 billion during the quarter, compared to analysts' expectations of $5.16 billion. Tenet Healthcare had a net margin of 7.17% and a return on equity of 24.69%. The business's quarterly revenue was up 3.2% compared to the same quarter last year. During the same period in the previous year, the company earned $2.31 EPS. Sell-side analysts forecast that Tenet Healthcare Corporation will post 12.24 earnings per share for the current 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.