Price T Rowe Associates Inc. MD Has $900.40 Million Position in Tenet Healthcare Co. (NYSE:THC)

Price T Rowe Associates Inc. MD trimmed its position in Tenet Healthcare Co. (NYSE:THC - Free Report) by 4.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,132,992 shares of the company's stock after selling 335,380 shares during the quarter. Price T Rowe Associates Inc. MD owned 7.50% of Tenet Healthcare worth $900,399,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of THC. Dark Forest Capital Management LP purchased a new position in shares of Tenet Healthcare in the fourth quarter valued at $420,000. Susquehanna Advisors Group Inc. bought a new stake in Tenet Healthcare during the fourth quarter valued at $1,893,000. Rock Springs Capital Management LP acquired a new stake in Tenet Healthcare during the fourth quarter worth about $16,309,000. Tower Research Capital LLC TRC grew its stake in Tenet Healthcare by 339.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 7,941 shares of the company's stock worth $1,002,000 after buying an additional 6,136 shares during the last quarter. Finally, MML Investors Services LLC lifted its position in Tenet Healthcare by 69.0% in the 4th quarter. MML Investors Services LLC now owns 19,286 shares of the company's stock valued at $2,434,000 after purchasing an additional 7,877 shares during the last quarter. Hedge funds and other institutional investors own 95.44% of the company's stock.

Wall Street Analyst Weigh In

THC has been the topic of several recent analyst reports. Baird R W downgraded Tenet Healthcare from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 15th. Morgan Stanley assumed coverage on shares of Tenet Healthcare in a research report on Wednesday, March 26th. They issued an "overweight" rating and a $165.00 target price for the company. Guggenheim assumed coverage on shares of Tenet Healthcare in a research report on Wednesday, April 9th. They set a "buy" rating and a $165.00 price target on the stock. Barclays lowered their price objective on shares of Tenet Healthcare from $190.00 to $161.00 and set an "overweight" rating on the stock in a research note on Thursday, February 13th. Finally, Robert W. Baird reiterated a "neutral" rating and set a $137.00 price target (down from $153.00) on shares of Tenet Healthcare in a research report on Tuesday, April 15th. Five research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, Tenet Healthcare currently has an average rating of "Moderate Buy" and an average price target of $165.44.

Tenet Healthcare Stock Up 8.2 %

Shares of THC traded up $10.15 during trading hours on Tuesday, reaching $134.06. The company's stock had a trading volume of 1,334,509 shares, compared to its average volume of 1,515,182. The company has a 50 day moving average of $126.27 and a two-hundred day moving average of $136.57. Tenet Healthcare Co. has a 1-year low of $104.06 and a 1-year high of $171.20. The firm has a market cap of $12.65 billion, a price-to-earnings ratio of 4.16, a P/E/G ratio of 1.02 and a beta of 1.77. The company has a quick ratio of 1.70, a current ratio of 1.78 and a debt-to-equity ratio of 2.25.

Tenet Healthcare (NYSE:THC - Get Free Report) last posted its earnings results on Tuesday, April 29th. The company reported $4.36 earnings per share for the quarter, beating 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 for the quarter, compared to analyst estimates of $5.15 billion. During the same period last year, the company earned $3.22 earnings per share. The business's revenue was down 2.5% compared to the same quarter last year. As a group, research analysts predict that Tenet Healthcare Co. will post 12.24 EPS for the current fiscal year.

Insider Buying and Selling

In other Tenet Healthcare news, Director J Robert Kerrey sold 9,525 shares of Tenet Healthcare stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $125.43, for a total value of $1,194,720.75. Following the transaction, the director now directly owns 27,378 shares of the company's stock, valued at $3,434,022.54. The trade was a 25.81 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.81% of the stock is owned by 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.