O Shaughnessy Asset Management LLC Trims Holdings in Tenet Healthcare Co. (NYSE:THC)

O Shaughnessy Asset Management LLC reduced its position in Tenet Healthcare Co. (NYSE:THC) by 9.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,835 shares of the company’s stock after selling 3,978 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in Tenet Healthcare were worth $4,776,000 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 recently modified their holdings of THC. Coldstream Capital Management Inc. boosted its holdings in 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 during the period. EverSource Wealth Advisors LLC boosted its stake in shares of Tenet Healthcare by 9.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 940 shares of the company’s stock worth $119,000 after acquiring an additional 80 shares during the period. Spire Wealth Management raised its stake in Tenet Healthcare by 19.5% during the 4th quarter. Spire Wealth Management now owns 558 shares of the company’s stock valued at $70,000 after purchasing an additional 91 shares during the period. CIBC Private Wealth Group LLC lifted its holdings 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 worth $732,000 after purchasing an additional 92 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its stake 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 worth $1,024,000 after purchasing an additional 100 shares during the period. 95.44% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Tenet Healthcare

In other Tenet Healthcare news, Director J Robert Kerrey sold 9,525 shares of the company’s stock in a transaction 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 in the company, valued at approximately $3,434,022.54. This represents a 25.81 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.93% of the stock is owned by company insiders.

Analyst Ratings Changes

THC has been the subject of a number of research reports. StockNews.com upgraded shares of Tenet Healthcare from a “hold” rating to a “buy” rating in a research report on Thursday, March 13th. TD Cowen initiated coverage on shares of Tenet Healthcare in a report on Wednesday, February 26th. They set a “buy” rating and a $175.00 price objective for the company. Morgan Stanley began coverage on Tenet Healthcare in a report on Wednesday, March 26th. They issued an “overweight” rating and a $165.00 target price on the stock. KeyCorp cut their price target on Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Finally, The Goldman Sachs Group downgraded Tenet Healthcare from a “buy” rating to a “neutral” rating and lowered their target price for the company from $196.00 to $140.00 in a research report on Monday, December 16th. Three investment 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 stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $166.41.

Tenet Healthcare Price Performance

Shares of THC stock opened at $137.30 on Thursday. The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.70 and a current ratio of 1.78. The stock has a 50 day moving average price of $132.55 and a 200 day moving average price of $141.91. Tenet Healthcare Co. has a 52-week low of $90.03 and a 52-week high of $171.20. The firm has a market capitalization of $13.06 billion, a P/E ratio of 4.26, a P/E/G ratio of 1.02 and a beta of 2.06.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $3.44 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 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.