Tenet Healthcare Co. (NYSE:THC) Shares Sold by Leith Wheeler Investment Counsel Ltd.

Leith Wheeler Investment Counsel Ltd. lowered its position in shares of Tenet Healthcare Co. (NYSE:THC - Free Report) by 22.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 64,316 shares of the company's stock after selling 18,926 shares during the period. Leith Wheeler Investment Counsel Ltd. owned approximately 0.07% of Tenet Healthcare worth $8,119,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in THC. EverSource Wealth Advisors LLC increased its holdings in Tenet Healthcare by 9.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 940 shares of the company's stock valued at $119,000 after purchasing an additional 80 shares during the last quarter. GeoWealth Management LLC boosted its position in Tenet Healthcare by 39.8% in the 4th quarter. GeoWealth Management LLC now owns 295 shares of the company's stock valued at $37,000 after buying an additional 84 shares during the period. Spire Wealth Management boosted its position in Tenet Healthcare by 19.5% in the 4th quarter. Spire Wealth Management now owns 558 shares of the company's stock valued at $70,000 after buying an additional 91 shares during the period. CIBC Private Wealth Group LLC boosted its position in Tenet Healthcare by 1.7% in the 4th quarter. CIBC Private Wealth Group LLC now owns 5,619 shares of the company's stock valued at $732,000 after buying an additional 92 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its position in Tenet Healthcare by 1.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 8,109 shares of the company's stock valued at $1,024,000 after buying an additional 100 shares during the period. Institutional investors and hedge funds own 95.44% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently commented on THC shares. Morgan Stanley began coverage on shares of Tenet Healthcare in a research note on Wednesday, March 26th. They set an "overweight" rating and a $165.00 target price for the company. Robert W. Baird reiterated a "neutral" rating and issued a $137.00 price objective (down previously from $153.00) on shares of Tenet Healthcare in a report on Tuesday, April 15th. TD Cowen assumed coverage on Tenet Healthcare in a report on Wednesday, February 26th. They issued a "buy" rating and a $175.00 price objective on the stock. Guggenheim assumed coverage on Tenet Healthcare in a report on Wednesday, April 9th. They issued a "buy" rating and a $165.00 price objective on the stock. Finally, Baird R W downgraded Tenet Healthcare from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 15th. Five equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $165.44.

Insider Activity

In other news, Director J Robert Kerrey sold 9,525 shares of the firm's 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 completion of the sale, the director now directly owns 27,378 shares of the company's stock, valued at $3,434,022.54. This trade represents a 25.81 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.81% of the company's stock.

Tenet Healthcare Stock Up 1.4 %

Tenet Healthcare stock opened at $123.82 on Tuesday. Tenet Healthcare Co. has a twelve month low of $96.14 and a twelve month high of $171.20. The stock has a 50 day moving average of $126.27 and a two-hundred day moving average of $136.57. 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 stock has a market capitalization of $11.69 billion, a price-to-earnings ratio of 3.84, a PEG ratio of 1.02 and a beta of 1.77.

Tenet Healthcare (NYSE:THC - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $4.36 earnings per share for the quarter, topping analysts' consensus estimates of $3.10 by $1.26. Tenet Healthcare had a return on equity of 21.88% and a net margin of 15.48%. As a group, research analysts expect that Tenet Healthcare Co. will post 12.24 earnings per share for the current year.

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.

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