Optas LLC Sells 120 Shares of Tenet Healthcare Co. (NYSE:THC)

Optas LLC decreased its position in Tenet Healthcare Co. (NYSE:THC) by 4.3% in the 4th quarter, HoldingsChannel reports. The fund owned 2,701 shares of the company’s stock after selling 120 shares during the period. Optas LLC’s holdings in Tenet Healthcare were worth $341,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of THC. Coldstream Capital Management Inc. raised its holdings in shares of Tenet Healthcare by 2.2% in the 3rd quarter. Coldstream Capital Management Inc. now owns 3,406 shares of the company’s stock worth $566,000 after buying an additional 74 shares in the last quarter. Spire Wealth Management lifted its holdings in shares of Tenet Healthcare by 19.5% during the fourth quarter. Spire Wealth Management now owns 558 shares of the company’s stock valued at $70,000 after acquiring an additional 91 shares during the period. Signaturefd LLC increased its position in shares of Tenet Healthcare by 17.6% during the 3rd quarter. Signaturefd LLC now owns 628 shares of the company’s stock worth $104,000 after purchasing an additional 94 shares in the last quarter. CIBC Asset Management Inc boosted its position in Tenet Healthcare by 3.4% in the third quarter. CIBC Asset Management Inc now owns 2,887 shares of the company’s stock valued at $480,000 after buying an additional 94 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in shares of Tenet Healthcare by 1.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 8,109 shares of the company’s stock worth $1,024,000 after buying an additional 100 shares in the last quarter. Institutional investors and hedge funds own 95.44% of the company’s stock.

Tenet Healthcare Stock Down 0.5 %

Tenet Healthcare stock opened at $143.91 on Wednesday. The company’s 50 day simple moving average is $133.98 and its 200 day simple moving average is $148.64. The company has a debt-to-equity ratio of 2.35, a current ratio of 1.58 and a quick ratio of 1.52. The firm has a market capitalization of $13.69 billion, a price-to-earnings ratio of 4.61, a PEG ratio of 0.63 and a beta of 2.05. Tenet Healthcare Co. has a fifty-two week low of $86.70 and a fifty-two week high of $171.20.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on THC shares. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $175.00 price target on shares of Tenet Healthcare in a report on Tuesday, December 17th. Barclays increased their price objective on shares of Tenet Healthcare from $171.00 to $190.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. Royal Bank of Canada upped their target price on shares of Tenet Healthcare from $174.00 to $183.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Wells Fargo & Company cut shares of Tenet Healthcare from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $205.00 to $150.00 in a research report on Monday, November 25th. Finally, KeyCorp dropped their target price on Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Three investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $165.00.

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.