Tenet Healthcare Co. (NYSE:THC) Holdings Trimmed by Quantedge Capital Pte Ltd

Quantedge Capital Pte Ltd trimmed its stake in Tenet Healthcare Co. (NYSE:THC - Free Report) by 46.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 32,500 shares of the company's stock after selling 27,700 shares during the quarter. Tenet Healthcare accounts for 1.5% of Quantedge Capital Pte Ltd's portfolio, making the stock its 19th largest position. Quantedge Capital Pte Ltd's holdings in Tenet Healthcare were worth $4,102,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in THC. Geode Capital Management LLC raised its position in shares of Tenet Healthcare by 3.5% in the fourth 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 during the period. Norges Bank acquired a new position in shares of Tenet Healthcare during the fourth quarter worth approximately $190,819,000. Dimensional Fund Advisors LP grew its position 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 worth $188,524,000 after purchasing an additional 272,906 shares during the last quarter. AQR Capital Management LLC raised its holdings 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 acquiring an additional 150,361 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in Tenet Healthcare by 22.0% during the fourth quarter. Northern Trust Corp now owns 848,049 shares of the company's stock worth $107,049,000 after buying an additional 152,671 shares in the last quarter. Institutional investors and hedge funds own 95.44% of the company's stock.

Insider Transactions at Tenet Healthcare

In other Tenet Healthcare news, Director J Robert Kerrey sold 9,525 shares of the business's stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $125.43, for a total value of $1,194,720.75. Following the completion of the sale, the director now 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.81% of the stock is owned by corporate insiders.

Tenet Healthcare Stock Up 2.3%

NYSE:THC opened at $158.11 on Wednesday. The firm has a market capitalization of $14.69 billion, a price-to-earnings ratio of 4.91, a price-to-earnings-growth ratio of 1.02 and a beta of 1.63. 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 Co. has a twelve month low of $109.82 and a twelve month high of $171.20. The stock's 50 day moving average price is $130.60 and its two-hundred day moving average price is $136.09.

Tenet Healthcare (NYSE:THC - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $4.36 EPS for the quarter, beating analysts' consensus estimates of $3.11 by $1.25. Tenet Healthcare had a net margin of 15.48% and a return on equity of 21.88%. The firm had revenue of $5.22 billion during the quarter, compared to analysts' expectations of $5.15 billion. During the same quarter last year, the company posted $3.22 earnings per share. The company's revenue for the quarter was down 2.5% compared to the same quarter last year. Equities research analysts expect that Tenet Healthcare Co. will post 12.24 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Morgan Stanley increased their price target on shares of Tenet Healthcare from $165.00 to $175.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. Barclays raised their target price on Tenet Healthcare from $161.00 to $171.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 30th. UBS Group upped their price target on Tenet Healthcare from $217.00 to $230.00 and gave the company a "buy" rating in a research report on Wednesday, April 30th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $177.00 target price on shares of Tenet Healthcare in a report on Thursday, February 13th. Finally, TD Cowen started coverage on shares of Tenet Healthcare in a research report on Wednesday, February 26th. They issued a "buy" rating and a $175.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and fourteen have given 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 an average price target of $174.63.

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.

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