Tenet Healthcare Co. (NYSE:THC) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company trimmed its holdings in Tenet Healthcare Co. (NYSE:THC - Free Report) by 11.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 113,093 shares of the company's stock after selling 14,310 shares during the period. The Manufacturers Life Insurance Company owned about 0.12% of Tenet Healthcare worth $14,276,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in THC. New Wave Wealth Advisors LLC purchased a new stake in Tenet Healthcare during the 4th quarter valued at approximately $343,000. Swedbank AB increased its holdings in Tenet Healthcare by 100.0% in the 4th quarter. Swedbank AB now owns 40,000 shares of the company's stock valued at $5,049,000 after acquiring an additional 20,000 shares during the last quarter. Signet Financial Management LLC purchased a new position in shares of Tenet Healthcare during the fourth quarter valued at about $1,526,000. China Universal Asset Management Co. Ltd. purchased a new stake in shares of Tenet Healthcare in the fourth quarter worth about $410,000. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in Tenet Healthcare during the 4th quarter valued at approximately $5,892,000. Hedge funds and other institutional investors own 95.44% of the company's stock.

Analysts Set New Price Targets

Several research firms recently commented on THC. Cantor Fitzgerald reiterated an "overweight" rating and issued a $177.00 price target on shares of Tenet Healthcare in a research report on Thursday, February 13th. Morgan Stanley increased their price target on Tenet Healthcare from $165.00 to $175.00 and gave the company an "overweight" rating in a report on Monday. Robert W. Baird reiterated a "neutral" rating and set a $137.00 price objective (down previously from $153.00) on shares of Tenet Healthcare in a research report on Tuesday, April 15th. The Goldman Sachs Group lifted their price target on shares of Tenet Healthcare from $134.00 to $154.00 and gave the stock a "neutral" rating in a research note on Monday. Finally, TD Cowen began coverage on shares of Tenet Healthcare in a research note on Wednesday, February 26th. They issued a "buy" rating and a $175.00 price objective for the company. 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 MarketBeat.com, Tenet Healthcare has a consensus rating of "Moderate Buy" and an average target price of $173.69.

Tenet Healthcare Stock Up 0.4 %

NYSE THC traded up $0.68 during midday trading on Wednesday, hitting $152.16. 1,244,286 shares of the company traded hands, compared to its average volume of 1,551,921. The company has a market cap of $14.13 billion, a PE ratio of 4.72, a price-to-earnings-growth ratio of 1.02 and a beta of 1.63. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.78 and a quick ratio of 1.70. Tenet Healthcare Co. has a 52 week low of $109.82 and a 52 week high of $171.20. The company's 50-day simple moving average is $127.86 and its 200-day simple moving average is $136.11.

Tenet Healthcare (NYSE:THC - Get Free Report) last announced its earnings results on Tuesday, April 29th. The company reported $4.36 earnings per share for the quarter, topping the consensus estimate of $3.11 by $1.25. The firm had revenue of $5.22 billion for the quarter, compared to the consensus estimate of $5.15 billion. Tenet Healthcare had a return on equity of 21.88% and a net margin of 15.48%. The firm's revenue for the quarter was down 2.5% on a year-over-year basis. During the same period in the previous year, the business earned $3.22 EPS. As a group, equities research analysts forecast that Tenet Healthcare Co. will post 12.24 earnings per share for the current year.

Insider Buying and Selling at Tenet Healthcare

In related news, Director J Robert Kerrey sold 9,525 shares of Tenet Healthcare stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $125.43, for a total transaction 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.81% of the stock is currently 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.