Tenet Healthcare Co. (NYSE:THC) Shares Sold by LMR Partners LLP

LMR Partners LLP reduced its holdings in Tenet Healthcare Co. (NYSE:THC - Free Report) by 56.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,817 shares of the company's stock after selling 8,972 shares during the quarter. LMR Partners LLP's holdings in Tenet Healthcare were worth $861,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of THC. Geode Capital Management LLC increased its stake in Tenet Healthcare by 3.5% in the 4th quarter. Geode Capital Management LLC now owns 2,116,121 shares of the company's stock valued at $268,591,000 after purchasing an additional 71,454 shares in the last quarter. Norges Bank purchased a new position in Tenet Healthcare in the 4th quarter valued at approximately $190,819,000. Dimensional Fund Advisors LP increased its stake in Tenet Healthcare by 22.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,493,532 shares of the company's stock valued at $188,524,000 after purchasing an additional 272,906 shares in the last quarter. AQR Capital Management LLC increased its stake in Tenet Healthcare by 20.8% in the 4th 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 in the last quarter. Finally, Northern Trust Corp increased its stake in Tenet Healthcare by 22.0% in the 4th quarter. Northern Trust Corp now owns 848,049 shares of the company's stock valued at $107,049,000 after purchasing an additional 152,671 shares in the last quarter. 95.44% of the stock is owned by institutional investors and hedge funds.

Tenet Healthcare Stock Up 0.9%

Shares of NYSE THC traded up $1.52 on Friday, hitting $165.55. The company had a trading volume of 1,767,306 shares, compared to its average volume of 1,550,635. Tenet Healthcare Co. has a 12-month low of $109.82 and a 12-month high of $171.20. The business has a 50 day moving average of $132.78 and a two-hundred day moving average of $136.44. 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 market capitalization of $15.38 billion, a P/E ratio of 5.14, a PEG ratio of 1.02 and a beta of 1.63.

Tenet Healthcare (NYSE:THC - Get Free Report) last issued its earnings results on Tuesday, April 29th. The company reported $4.36 earnings per share for the quarter, topping the consensus estimate of $3.11 by $1.25. Tenet Healthcare had a return on equity of 21.88% and a net margin of 15.48%. The company had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $5.15 billion. During the same quarter in the prior year, the business earned $3.22 earnings per share. The company's revenue was down 2.5% compared to the same quarter last year. As a group, equities research analysts forecast that Tenet Healthcare Co. will post 12.24 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently weighed in on THC shares. Morgan Stanley raised their price objective on Tenet Healthcare from $165.00 to $175.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. UBS Group raised their price target on Tenet Healthcare from $217.00 to $230.00 and gave the stock a "buy" rating in a research report on Wednesday, April 30th. Guggenheim assumed coverage on Tenet Healthcare in a research report on Wednesday, April 9th. They set a "buy" rating and a $165.00 price target for the company. Baird R W downgraded Tenet Healthcare from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 15th. Finally, The Goldman Sachs Group raised their price target on Tenet Healthcare from $134.00 to $154.00 and gave the stock a "neutral" rating in a research report on Monday, May 5th. Four investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $174.94.

Insider Buying and Selling

In other Tenet Healthcare news, Director J Robert Kerrey sold 9,525 shares of the stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $125.43, for a total transaction of $1,194,720.75. Following the completion of the transaction, the director now directly owns 27,378 shares of the company's stock, valued at approximately $3,434,022.54. This trade represents a 25.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Paola M. Arbour sold 6,461 shares of the stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $160.20, for a total value of $1,035,052.20. Following the transaction, the executive vice president now directly owns 27,848 shares of the company's stock, valued at approximately $4,461,249.60. The trade was a 18.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 20,987 shares of company stock worth $2,972,421. 0.81% of the stock is currently owned by corporate insiders.

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.