Heritage Investors Management Corp Reduces Holdings in Tenet Healthcare Co. (NYSE:THC)

Heritage Investors Management Corp decreased its position in Tenet Healthcare Co. (NYSE:THC) by 10.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,800 shares of the company’s stock after selling 200 shares during the period. Heritage Investors Management Corp’s holdings in Tenet Healthcare were worth $227,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in THC. FMR LLC boosted its position in shares of Tenet Healthcare by 88.0% during the 3rd quarter. FMR LLC now owns 7,700,693 shares of the company’s stock worth $1,279,855,000 after purchasing an additional 3,604,161 shares during the period. Geode Capital Management LLC boosted its position in shares of Tenet Healthcare by 23.6% during the 3rd quarter. Geode Capital Management LLC now owns 2,044,667 shares of the company’s stock worth $339,893,000 after purchasing an additional 390,316 shares during the period. Iron Triangle Partners LP acquired a new stake in Tenet Healthcare during the 3rd quarter worth approximately $51,346,000. Point72 Asset Management L.P. lifted its holdings in Tenet Healthcare by 32.0% during the 3rd quarter. Point72 Asset Management L.P. now owns 442,949 shares of the company’s stock worth $73,618,000 after buying an additional 107,290 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in Tenet Healthcare by 60.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 253,931 shares of the company’s stock worth $32,054,000 after buying an additional 96,106 shares in the last quarter. Hedge funds and other institutional investors own 95.44% of the company’s stock.

Wall Street Analyst Weigh In

THC has been the topic of a number of research reports. StockNews.com upgraded shares of Tenet Healthcare from a “hold” rating to a “buy” rating in a report on Tuesday. KeyCorp reduced their target price on shares of Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Raymond James lowered shares of Tenet Healthcare from a “strong-buy” rating to an “outperform” rating and set a $195.00 target price on the stock. in a report on Friday, November 22nd. Barclays reduced their price objective on shares of Tenet Healthcare from $190.00 to $161.00 and set an “overweight” rating on the stock in a report on Thursday, February 13th. Finally, TD Cowen initiated coverage on shares of Tenet Healthcare in a report on Wednesday. They issued a “buy” rating and a $175.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $163.88.

Tenet Healthcare Price Performance

Shares of NYSE:THC opened at $130.48 on Friday. Tenet Healthcare Co. has a 12 month low of $88.98 and a 12 month high of $171.20. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.78 and a quick ratio of 1.70. The firm has a market capitalization of $12.41 billion, a P/E ratio of 4.05, a P/E/G ratio of 1.02 and a beta of 2.05. The company’s fifty day moving average price is $133.09 and its 200 day moving average price is $147.25.

Tenet Healthcare (NYSE:THC) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $3.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.95 by $0.49. Tenet Healthcare had a net margin of 15.48% and a return on equity of 21.88%. As a group, sell-side analysts predict that Tenet Healthcare Co. will post 12.24 earnings per share for the current fiscal year.

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.