New York State Common Retirement Fund Decreases Stake in Tenet Healthcare Co. (NYSE:THC)

New York State Common Retirement Fund decreased its position in shares of Tenet Healthcare Co. (NYSE:THC - Free Report) by 10.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 196,740 shares of the company's stock after selling 23,354 shares during the quarter. New York State Common Retirement Fund owned about 0.19% of Tenet Healthcare worth $14,868,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of THC. Sunbelt Securities Inc. acquired a new stake in shares of Tenet Healthcare in the third quarter valued at approximately $67,000. USA Financial Formulas acquired a new stake in shares of Tenet Healthcare in the third quarter valued at approximately $92,000. CWM LLC raised its holdings in shares of Tenet Healthcare by 49.8% in the third quarter. CWM LLC now owns 1,443 shares of the company's stock valued at $95,000 after purchasing an additional 480 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Tenet Healthcare in the third quarter valued at approximately $152,000. Finally, Neo Ivy Capital Management acquired a new stake in shares of Tenet Healthcare in the third quarter valued at approximately $155,000. Institutional investors own 95.44% of the company's stock.

Analyst Upgrades and Downgrades

THC has been the topic of a number of recent analyst reports. Mizuho boosted their target price on shares of Tenet Healthcare from $90.00 to $100.00 and gave the stock a "buy" rating in a report on Friday, February 9th. Wells Fargo & Company boosted their target price on shares of Tenet Healthcare from $105.00 to $115.00 and gave the stock an "overweight" rating in a report on Thursday, March 28th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Tenet Healthcare from $100.00 to $126.00 and gave the stock a "buy" rating in a report on Friday, April 12th. Wolfe Research upgraded shares of Tenet Healthcare from a "peer perform" rating to an "outperform" rating and set a $122.00 target price on the stock in a report on Wednesday, March 27th. Finally, Barclays started coverage on shares of Tenet Healthcare in a report on Wednesday, March 6th. They set an "overweight" rating and a $113.00 target price on the stock. One analyst has rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Tenet Healthcare presently has an average rating of "Buy" and a consensus target price of $100.38.

Tenet Healthcare Stock Performance

Shares of Tenet Healthcare stock traded up $13.15 during trading on Tuesday, reaching $112.30. The company's stock had a trading volume of 3,866,059 shares, compared to its average volume of 1,167,617. The business's 50-day moving average price is $98.38 and its 200-day moving average price is $81.03. The firm has a market cap of $11.14 billion, a PE ratio of 19.67, a P/E/G ratio of 3.08 and a beta of 2.08. Tenet Healthcare Co. has a 52 week low of $51.04 and a 52 week high of $112.30. The company has a quick ratio of 1.42, a current ratio of 1.51 and a debt-to-equity ratio of 4.77.

Tenet Healthcare (NYSE:THC - Get Free Report) last announced its earnings results on Thursday, February 8th. The company reported $2.68 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.58 by $1.10. Tenet Healthcare had a net margin of 2.97% and a return on equity of 26.34%. The company had revenue of $5.38 billion during the quarter, compared to analysts' expectations of $5.28 billion. During the same quarter in the previous year, the business posted $1.96 earnings per share. Tenet Healthcare's quarterly revenue was up 7.8% on a year-over-year basis. Equities analysts forecast that Tenet Healthcare Co. will post 6.3 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Paola M. Arbour sold 18,168 shares of the company's stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $96.96, for a total transaction of $1,761,569.28. Following the completion of the sale, the executive vice president now owns 29,803 shares of the company's stock, valued at $2,889,698.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Paola M. Arbour sold 18,168 shares of the stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $96.96, for a total value of $1,761,569.28. Following the completion of the transaction, the executive vice president now owns 29,803 shares of the company's stock, valued at $2,889,698.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 completion of the transaction, the director now directly owns 20,127 shares of the company's stock, valued at approximately $1,775,402.67. The disclosure for this sale can be found here. Insiders sold 51,268 shares of company stock valued at $4,944,810 over the last quarter. 0.93% of the stock is owned by company insiders.

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.