Teachers Retirement System of The State of Kentucky Lowers Stock Holdings in Tenet Healthcare Co. (NYSE:THC)

Teachers Retirement System of The State of Kentucky cut its position in Tenet Healthcare Co. (NYSE:THC) by 4.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,003 shares of the company’s stock after selling 1,600 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Tenet Healthcare were worth $2,569,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of THC. Norges Bank purchased a new stake in Tenet Healthcare during the 4th quarter worth about $78,254,000. Glenview Capital Management LLC raised its holdings in Tenet Healthcare by 12.8% in the fourth quarter. Glenview Capital Management LLC now owns 7,742,322 shares of the company’s stock valued at $585,087,000 after acquiring an additional 877,180 shares in the last quarter. 8 Knots Management LLC purchased a new position in Tenet Healthcare in the fourth quarter worth approximately $44,412,000. Greenlight Capital Inc. grew its holdings in Tenet Healthcare by 44.3% during the 4th quarter. Greenlight Capital Inc. now owns 1,315,970 shares of the company’s stock worth $99,448,000 after acquiring an additional 404,190 shares in the last quarter. Finally, Hsbc Holdings PLC raised its holdings in shares of Tenet Healthcare by 113.0% in the 4th quarter. Hsbc Holdings PLC now owns 453,624 shares of the company’s stock valued at $34,266,000 after purchasing an additional 240,611 shares in the last quarter. 95.44% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Tenet Healthcare

In other news, Director Richard W. Fisher sold 1,400 shares of the stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $132.24, for a total value of $185,136.00. Following the completion of the transaction, the director now owns 16,227 shares in the company, valued at approximately $2,145,858.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Christopher S. Lynch sold 10,861 shares of the firm’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $133.83, for a total value of $1,453,527.63. Following the completion of the transaction, the director now owns 14,759 shares in the company, valued at $1,975,196.97. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Richard W. Fisher sold 1,400 shares of the business’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $132.24, for a total transaction of $185,136.00. Following the completion of the sale, the director now owns 16,227 shares in the company, valued at $2,145,858.48. The disclosure for this sale can be found here. Over the last quarter, insiders sold 24,691 shares of company stock valued at $3,117,909. 0.93% of the stock is owned by company insiders.

Tenet Healthcare Stock Performance

Shares of THC opened at $135.19 on Friday. The stock has a market capitalization of $13.21 billion, a P/E ratio of 5.25, a P/E/G ratio of 1.39 and a beta of 2.12. The company’s fifty day moving average is $121.74 and its two-hundred day moving average is $99.42. The company has a debt-to-equity ratio of 2.58, a quick ratio of 1.37 and a current ratio of 1.44. Tenet Healthcare Co. has a 1 year low of $51.04 and a 1 year high of $142.35.

Tenet Healthcare (NYSE:THC) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $3.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.45 by $1.77. The company had revenue of $5.37 billion for the quarter, compared to analyst estimates of $5.15 billion. Tenet Healthcare had a return on equity of 26.76% and a net margin of 12.53%. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.42 EPS. On average, sell-side analysts predict that Tenet Healthcare Co. will post 8.74 earnings per share for the current year.

Analyst Upgrades and Downgrades

THC has been the topic of several recent analyst reports. Stephens increased their target price on Tenet Healthcare from $95.00 to $122.00 and gave the company an “equal weight” rating in a report on Wednesday, May 1st. Cantor Fitzgerald restated an “overweight” rating and set a $104.00 target price on shares of Tenet Healthcare in a research note on Wednesday, April 10th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Tenet Healthcare from $126.00 to $150.00 and gave the stock a “buy” rating in a report on Thursday, May 30th. Royal Bank of Canada upped their target price on shares of Tenet Healthcare from $109.00 to $136.00 and gave the company an “outperform” rating in a report on Wednesday, May 1st. Finally, Robert W. Baird began coverage on shares of Tenet Healthcare in a research report on Thursday, May 30th. They issued an “outperform” rating and a $153.00 price target for the company. One research analyst has rated the stock with a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, Tenet Healthcare has a consensus rating of “Buy” and an average target price of $120.41.

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.