Tenet Healthcare Co. (NYSE:THC) Shares Sold by Invesco Ltd.

Invesco Ltd. decreased its holdings in shares of Tenet Healthcare Co. (NYSE:THC) by 0.7% during the 4th quarter, Holdings Channel.com reports. The fund owned 5,006,369 shares of the company’s stock after selling 35,923 shares during the period. Invesco Ltd. owned approximately 0.05% of Tenet Healthcare worth $631,954,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Coldstream Capital Management Inc. grew its stake in Tenet Healthcare by 2.2% during 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 last quarter. EverSource Wealth Advisors LLC lifted its position in Tenet Healthcare by 9.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 940 shares of the company’s stock valued at $119,000 after purchasing an additional 80 shares during the last quarter. Spire Wealth Management boosted 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 increased its stake in shares of Tenet Healthcare by 1.7% in the fourth quarter. CIBC Private Wealth Group LLC now owns 5,619 shares of the company’s stock valued at $732,000 after purchasing an additional 92 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its position 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 during the period. 95.44% of the stock is currently owned by institutional investors and hedge funds.

Tenet Healthcare Stock Down 0.0 %

Shares of NYSE:THC opened at $120.29 on Tuesday. Tenet Healthcare Co. has a 52 week low of $90.03 and a 52 week high of $171.20. 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 company has a market cap of $11.44 billion, a PE ratio of 3.73, a price-to-earnings-growth ratio of 1.02 and a beta of 1.77. The firm has a 50 day simple moving average of $131.75 and a 200 day simple moving average of $140.96.

Tenet Healthcare (NYSE:THC) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $3.44 earnings per share for the quarter, beating analysts’ consensus estimates of $2.95 by $0.49. Tenet Healthcare had a return on equity of 21.88% and a net margin of 15.48%. As a group, research analysts expect that Tenet Healthcare Co. will post 12.24 earnings per share for the current year.

Analyst Ratings Changes

THC has been the topic of several recent analyst reports. Morgan Stanley started coverage on Tenet Healthcare in a research note on Wednesday, March 26th. They set an “overweight” rating and a $165.00 target price on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $177.00 target price on shares of Tenet Healthcare in a research report on Thursday, February 13th. Truist Financial dropped their price target on shares of Tenet Healthcare from $190.00 to $175.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Barclays lowered their price objective on shares of Tenet Healthcare from $190.00 to $161.00 and set an “overweight” rating on the stock in a research note on Thursday, February 13th. Finally, StockNews.com raised Tenet Healthcare from a “hold” rating to a “buy” rating in a research note on Thursday, March 13th. 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 company. According to MarketBeat.com, Tenet Healthcare has a consensus rating of “Moderate Buy” and a consensus price target of $166.41.

Insiders Place Their Bets

In related news, Director J Robert Kerrey sold 9,525 shares of the company’s stock in a transaction on Tuesday, March 11th. The shares were 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 directly owns 27,378 shares of the company’s stock, valued at approximately $3,434,022.54. This represents a 25.81 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.93% of the company’s stock.

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.