Tenet Healthcare Co. (NYSE:THC) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama decreased its position in shares of Tenet Healthcare Co. (NYSE:THC) by 0.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 175,987 shares of the company’s stock after selling 770 shares during the quarter. Retirement Systems of Alabama’s holdings in Tenet Healthcare were worth $22,215,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of THC. Coldstream Capital Management Inc. grew its holdings in Tenet Healthcare by 2.2% during the third quarter. Coldstream Capital Management Inc. now owns 3,406 shares of the company’s stock worth $566,000 after acquiring an additional 74 shares during the period. Spire Wealth Management grew its stake in shares of Tenet Healthcare by 19.5% in the 4th quarter. Spire Wealth Management now owns 558 shares of the company’s stock worth $70,000 after purchasing an additional 91 shares during the last quarter. Optas LLC lifted its stake in Tenet Healthcare by 3.4% during the third quarter. Optas LLC now owns 2,821 shares of the company’s stock valued at $469,000 after purchasing an additional 93 shares during the last quarter. Signaturefd LLC grew its position in Tenet Healthcare by 17.6% in the third quarter. Signaturefd LLC now owns 628 shares of the company’s stock worth $104,000 after buying an additional 94 shares during the last quarter. Finally, CIBC Asset Management Inc lifted its position in shares of Tenet Healthcare by 3.4% during the 3rd quarter. CIBC Asset Management Inc now owns 2,887 shares of the company’s stock valued at $480,000 after acquiring an additional 94 shares during the last quarter. Institutional investors and hedge funds own 95.44% of the company’s stock.

Tenet Healthcare Stock Performance

THC stock opened at $139.76 on Friday. The company has a quick ratio of 1.52, a current ratio of 1.58 and a debt-to-equity ratio of 2.35. Tenet Healthcare Co. has a 12 month low of $86.70 and a 12 month high of $171.20. The firm has a 50 day moving average of $134.00 and a two-hundred day moving average of $148.55. The company has a market capitalization of $13.29 billion, a price-to-earnings ratio of 4.48, a P/E/G ratio of 0.63 and a beta of 2.05.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Wells Fargo & Company lowered Tenet Healthcare from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $205.00 to $150.00 in a research report on Monday, November 25th. Barclays upped their price objective on shares of Tenet Healthcare from $171.00 to $190.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. The Goldman Sachs Group lowered shares of Tenet Healthcare from a “buy” rating to a “neutral” rating and cut their price target for the company from $196.00 to $140.00 in a report on Monday, December 16th. StockNews.com cut shares of Tenet Healthcare from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, December 17th. Finally, UBS Group raised their target price on Tenet Healthcare from $197.00 to $217.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Three research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Tenet Healthcare has an average rating of “Moderate Buy” and a consensus target price of $165.00.

Tenet Healthcare Company 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.