Natixis Advisors LLC Sells 22,308 Shares of Tenet Healthcare Co. (NYSE:THC)

Natixis Advisors LLC lowered its stake in Tenet Healthcare Co. (NYSE:THC) by 55.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 17,640 shares of the company’s stock after selling 22,308 shares during the quarter. Natixis Advisors LLC’s holdings in Tenet Healthcare were worth $2,226,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. True Wealth Design LLC bought a new stake in shares of Tenet Healthcare in the 3rd quarter valued at $38,000. WR Wealth Planners LLC grew its position in Tenet Healthcare by 2,836.4% in the 4th quarter. WR Wealth Planners LLC now owns 323 shares of the company’s stock valued at $41,000 after purchasing an additional 312 shares during the period. Smartleaf Asset Management LLC grew its position in Tenet Healthcare by 30.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 471 shares of the company’s stock valued at $59,000 after purchasing an additional 110 shares during the period. Kestra Investment Management LLC acquired a new stake in Tenet Healthcare in the 4th quarter valued at $60,000. Finally, Hantz Financial Services Inc. acquired a new stake in Tenet Healthcare in the 3rd quarter valued at $83,000. Institutional investors own 95.44% of the company’s stock.

Insider Activity at Tenet Healthcare

In other news, Director J Robert Kerrey sold 9,525 shares of the company’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $125.43, for a total transaction 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 represents a 25.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.93% of the stock is currently owned by company insiders.

Analyst Ratings Changes

THC has been the subject of several research reports. StockNews.com raised shares of Tenet Healthcare from a “hold” rating to a “buy” rating in a research report on Thursday, March 13th. Barclays reduced their price target on shares of Tenet Healthcare from $190.00 to $161.00 and set an “overweight” rating for the company in a research report on Thursday, February 13th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $177.00 price objective on shares of Tenet Healthcare in a report on Thursday, February 13th. KeyCorp cut their price objective 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. Finally, Wells Fargo & Company downgraded shares of Tenet Healthcare from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $205.00 to $150.00 in a report on Monday, November 25th. Three 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $163.88.

Tenet Healthcare Trading Down 2.7 %

Shares of Tenet Healthcare stock opened at $122.87 on Monday. Tenet Healthcare Co. has a 52-week low of $90.03 and a 52-week high of $171.20. The stock’s 50-day simple moving average is $132.20 and its 200 day simple moving average is $143.15. The stock has a market capitalization of $11.69 billion, a P/E ratio of 3.81, a P/E/G ratio of 1.02 and a beta of 2.06. The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.70 and a current ratio of 1.78.

Tenet Healthcare (NYSE:THC) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $3.44 earnings per share (EPS) 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 anticipate that Tenet Healthcare Co. will post 12.24 EPS for the current year.

Tenet Healthcare 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.