Tenet Healthcare Co. (NYSE:THC) Shares Sold by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System trimmed its stake in shares of Tenet Healthcare Co. (NYSE:THC) by 0.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 26,400 shares of the company’s stock after selling 200 shares during the period. Louisiana State Employees Retirement System’s holdings in Tenet Healthcare were worth $3,332,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Plato Investment Management Ltd acquired a new position in shares of Tenet Healthcare during the 3rd quarter worth approximately $28,000. Financial Management Professionals Inc. raised its position in shares of Tenet Healthcare by 2,222.2% during the 3rd quarter. Financial Management Professionals Inc. now owns 209 shares of the company’s stock worth $35,000 after purchasing an additional 200 shares during the last quarter. True Wealth Design LLC acquired a new position in shares of Tenet Healthcare during the 3rd quarter worth approximately $38,000. Wilmington Savings Fund Society FSB raised its position in shares of Tenet Healthcare by 1,352.8% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 523 shares of the company’s stock worth $66,000 after purchasing an additional 487 shares during the last quarter. Finally, Spire Wealth Management raised its position in shares of Tenet Healthcare by 19.5% during the 4th quarter. Spire Wealth Management now owns 558 shares of the company’s stock worth $70,000 after purchasing an additional 91 shares during the last quarter. 95.44% of the stock is currently owned by institutional investors and hedge funds.

Tenet Healthcare Stock Up 5.4 %

Shares of NYSE THC opened at $133.02 on Friday. Tenet Healthcare Co. has a 52-week low of $87.06 and a 52-week high of $171.20. The firm has a fifty day moving average of $133.43 and a 200-day moving average of $148.26. The stock has a market capitalization of $12.65 billion, a PE ratio of 4.26, a P/E/G ratio of 0.63 and a beta of 2.05. The company has a quick ratio of 1.52, a current ratio of 1.58 and a debt-to-equity ratio of 2.35.

Tenet Healthcare (NYSE:THC) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $3.44 earnings per share for the quarter, topping analysts’ consensus estimates of $2.95 by $0.49. Tenet Healthcare had a net margin of 14.91% and a return on equity of 24.05%. On average, analysts anticipate that Tenet Healthcare Co. will post 11.37 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on THC shares. Raymond James downgraded Tenet Healthcare from a “strong-buy” rating to an “outperform” rating and set a $195.00 price objective for the company. in a research report on Friday, November 22nd. The Goldman Sachs Group cut shares of Tenet Healthcare from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $196.00 to $140.00 in a research note on Monday, December 16th. Truist Financial lowered their target price on shares of Tenet Healthcare from $190.00 to $175.00 and set a “buy” rating for the company in a research note on Monday, January 6th. StockNews.com cut shares of Tenet Healthcare from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, KeyCorp lowered their target price on shares of Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Four equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $163.19.

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.