Marshall Wace LLP Sells 240,453 Shares of Tenet Healthcare Co. (NYSE:THC)

Marshall Wace LLP cut its holdings in Tenet Healthcare Co. (NYSE:THC - Free Report) by 32.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 499,555 shares of the company's stock after selling 240,453 shares during the quarter. Marshall Wace LLP owned about 0.53% of Tenet Healthcare worth $63,059,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Franklin Resources Inc. boosted its position in shares of Tenet Healthcare by 11.9% in the third quarter. Franklin Resources Inc. now owns 457,704 shares of the company's stock worth $71,077,000 after buying an additional 48,580 shares during the period. Retirement Systems of Alabama increased its stake in Tenet Healthcare by 46.6% in the 3rd quarter. Retirement Systems of Alabama now owns 176,757 shares of the company's stock valued at $29,377,000 after buying an additional 56,193 shares during the period. B. Riley Wealth Advisors Inc. raised its holdings in shares of Tenet Healthcare by 101.3% during the third quarter. B. Riley Wealth Advisors Inc. now owns 7,894 shares of the company's stock worth $1,281,000 after acquiring an additional 3,973 shares in the last quarter. Nordea Investment Management AB lifted its holdings in shares of Tenet Healthcare by 13.5% during the 4th quarter. Nordea Investment Management AB now owns 83,793 shares of the company's stock valued at $10,577,000 after buying an additional 9,946 shares during the last quarter. Finally, CWA Asset Management Group LLC bought a new stake in Tenet Healthcare in the fourth quarter worth approximately $1,758,000. Institutional investors and hedge funds own 95.44% of the company's stock.

Tenet Healthcare Price Performance

THC traded up $4.91 on Wednesday, reaching $119.59. The stock had a trading volume of 507,824 shares, compared to its average volume of 1,506,894. The company has a market capitalization of $11.29 billion, a price-to-earnings ratio of 3.71, a price-to-earnings-growth ratio of 1.02 and a beta of 1.77. 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 firm has a 50-day moving average of $127.20 and a 200-day moving average of $137.53. Tenet Healthcare Co. has a fifty-two week low of $92.01 and a fifty-two week high of $171.20.

Tenet Healthcare (NYSE:THC - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $3.44 earnings per share for the quarter, beating analysts' consensus estimates of $2.95 by $0.49. Tenet Healthcare had a return on equity of 21.88% and a net margin of 15.48%. As a group, sell-side analysts anticipate that Tenet Healthcare Co. will post 12.24 EPS for the current year.

Insider Buying and Selling

In other news, Director J Robert Kerrey sold 9,525 shares of the stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $125.43, for a total transaction of $1,194,720.75. Following the transaction, the director now owns 27,378 shares of the company's stock, valued at $3,434,022.54. This represents a 25.81 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.93% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on THC. Baird R W cut shares of Tenet Healthcare from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 15th. Cantor Fitzgerald restated an "overweight" rating and issued a $177.00 price objective on shares of Tenet Healthcare in a research note on Thursday, February 13th. TD Cowen began coverage on shares of Tenet Healthcare in a research report on Wednesday, February 26th. They set a "buy" rating and a $175.00 target price for the company. Barclays decreased their price objective on Tenet Healthcare from $190.00 to $161.00 and set an "overweight" rating on the stock in a report on Thursday, February 13th. Finally, Morgan Stanley started coverage on Tenet Healthcare in a report on Wednesday, March 26th. They set an "overweight" rating and a $165.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, Tenet Healthcare currently has a consensus rating of "Moderate Buy" and a consensus price target of $165.44.

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.