Tenet Healthcare Co. (NYSE:THC) Shares Sold by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board decreased its stake in Tenet Healthcare Co. (NYSE:THC) by 45.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 2,720 shares of the company’s stock after selling 2,255 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in Tenet Healthcare were worth $343,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of THC. Norges Bank acquired a new stake in shares of Tenet Healthcare during the 4th quarter worth approximately $190,819,000. Wealthfront Advisers LLC purchased a new stake in Tenet Healthcare during the fourth quarter worth $69,059,000. Raymond James Financial Inc. purchased a new position in Tenet Healthcare in the fourth quarter valued at $49,001,000. Renaissance Technologies LLC boosted its stake in shares of Tenet Healthcare by 579.2% during the 4th quarter. Renaissance Technologies LLC now owns 438,563 shares of the company’s stock worth $55,360,000 after acquiring an additional 373,988 shares in the last quarter. Finally, Victory Capital Management Inc. grew its position in shares of Tenet Healthcare by 68.9% during the 4th quarter. Victory Capital Management Inc. now owns 507,055 shares of the company’s stock valued at $64,006,000 after acquiring an additional 206,907 shares during the period. 95.44% of the stock is owned by institutional investors and hedge funds.

Tenet Healthcare Trading Up 0.9 %

Shares of Tenet Healthcare stock opened at $121.47 on Friday. Tenet Healthcare Co. has a fifty-two week low of $90.03 and a fifty-two 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 firm has a market capitalization of $11.55 billion, a price-to-earnings ratio of 3.77, a PEG ratio of 1.02 and a beta of 1.77. The stock has a 50 day moving average of $128.22 and a 200 day moving average of $138.59.

Tenet Healthcare (NYSE:THC) last issued its quarterly earnings data 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, research analysts predict that Tenet Healthcare Co. will post 12.24 earnings per share for the current year.

Insider Buying and Selling at Tenet Healthcare

In other Tenet Healthcare news, Director J Robert Kerrey sold 9,525 shares of the firm’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 sale, the director now directly owns 27,378 shares in the company, valued at $3,434,022.54. This trade represents a 25.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.93% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Morgan Stanley initiated coverage on Tenet Healthcare in a research report on Wednesday, March 26th. They set an “overweight” rating and a $165.00 price target on the stock. KeyCorp dropped their price target on shares of Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. Truist Financial dropped their target price 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. Guggenheim started coverage on shares of Tenet Healthcare in a research report on Wednesday, April 9th. They set a “buy” rating and a $165.00 price target for the company. Finally, Robert W. Baird reiterated a “neutral” rating and set a $137.00 price objective (down from $153.00) on shares of Tenet Healthcare in a research note on Tuesday. Five equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $165.44.

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.