New York State Teachers Retirement System Sells 12,446 Shares of Tenet Healthcare Co. (NYSE:THC)

New York State Teachers Retirement System reduced its stake in Tenet Healthcare Co. (NYSE:THC - Free Report) by 9.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 119,303 shares of the company's stock after selling 12,446 shares during the quarter. New York State Teachers Retirement System owned about 0.12% of Tenet Healthcare worth $9,016,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Nordea Investment Management AB increased its holdings in shares of Tenet Healthcare by 324.3% during the fourth quarter. Nordea Investment Management AB now owns 40,066 shares of the company's stock valued at $3,030,000 after acquiring an additional 30,623 shares in the last quarter. First Eagle Investment Management LLC increased its holdings in shares of Tenet Healthcare by 37.3% during the third quarter. First Eagle Investment Management LLC now owns 176,404 shares of the company's stock valued at $11,623,000 after acquiring an additional 47,952 shares in the last quarter. Simplicity Solutions LLC bought a new stake in shares of Tenet Healthcare during the third quarter valued at approximately $5,664,000. TD Asset Management Inc bought a new stake in shares of Tenet Healthcare during the third quarter valued at approximately $1,146,000. Finally, Vanguard Group Inc. increased its holdings in shares of Tenet Healthcare by 0.6% during the third quarter. Vanguard Group Inc. now owns 10,937,483 shares of the company's stock valued at $720,671,000 after acquiring an additional 63,253 shares in the last quarter. 95.44% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Richard W. Fisher sold 2,100 shares of the stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $88.21, for a total transaction of $185,241.00. Following the transaction, the director now directly owns 20,127 shares in the company, valued at approximately $1,775,402.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Richard W. Fisher sold 2,100 shares of the firm's stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $88.21, for a total transaction of $185,241.00. Following the transaction, the director now directly owns 20,127 shares in the company, valued at approximately $1,775,402.67. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Paola M. Arbour sold 18,168 shares of the firm's stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $96.96, for a total value of $1,761,569.28. Following the transaction, the executive vice president now owns 29,803 shares in the company, valued at $2,889,698.88. The disclosure for this sale can be found here. Insiders have sold 51,268 shares of company stock worth $4,944,810 in the last ninety days. 1.30% of the stock is currently owned by insiders.

Tenet Healthcare Stock Performance

Shares of NYSE THC traded down $1.40 during trading on Friday, reaching $100.42. 898,660 shares of the stock traded hands, compared to its average volume of 1,120,945. Tenet Healthcare Co. has a 52-week low of $51.04 and a 52-week high of $107.80. The company has a debt-to-equity ratio of 4.77, a current ratio of 1.51 and a quick ratio of 1.42. The company has a 50-day moving average of $96.79 and a 200-day moving average of $78.18. The stock has a market capitalization of $10.04 billion, a P/E ratio of 17.59, a price-to-earnings-growth ratio of 3.17 and a beta of 2.08.

Tenet Healthcare (NYSE:THC - Get Free Report) last announced its earnings results on Thursday, February 8th. The company reported $2.68 earnings per share for the quarter, topping analysts' consensus estimates of $1.58 by $1.10. The business had revenue of $5.38 billion for the quarter, compared to analyst estimates of $5.28 billion. Tenet Healthcare had a return on equity of 26.34% and a net margin of 2.97%. The company's quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.96 EPS. Analysts forecast that Tenet Healthcare Co. will post 6.09 EPS for the current fiscal year.

Analyst Ratings Changes

THC has been the subject of several recent research reports. Truist Financial boosted their price objective on Tenet Healthcare from $92.00 to $105.00 and gave the company a "buy" rating in a report on Friday, February 9th. Wolfe Research upgraded Tenet Healthcare from a "peer perform" rating to an "outperform" rating and set a $122.00 price target for the company in a report on Wednesday, March 27th. Royal Bank of Canada upped their price target on Tenet Healthcare from $97.00 to $109.00 and gave the stock an "outperform" rating in a report on Friday, February 9th. StockNews.com raised Tenet Healthcare from a "hold" rating to a "buy" rating in a research report on Saturday, December 16th. Finally, Mizuho boosted their price objective on Tenet Healthcare from $90.00 to $100.00 and gave the stock a "buy" rating in a research report on Friday, February 9th. One equities research analyst has rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $100.38.

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.