Envestnet Portfolio Solutions Inc. Boosts Stock Position in Tenet Healthcare Co. (NYSE:THC)

Envestnet Portfolio Solutions Inc. increased its stake in Tenet Healthcare Co. (NYSE:THC) by 1.5% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 12,647 shares of the company’s stock after buying an additional 186 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Tenet Healthcare were worth $1,596,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in THC. FMR LLC increased its stake in shares of Tenet Healthcare by 88.0% during the 3rd quarter. FMR LLC now owns 7,700,693 shares of the company’s stock worth $1,279,855,000 after purchasing an additional 3,604,161 shares during the last quarter. Geode Capital Management LLC increased its position in Tenet Healthcare by 23.6% in the third quarter. Geode Capital Management LLC now owns 2,044,667 shares of the company’s stock worth $339,893,000 after buying an additional 390,316 shares during the last quarter. Allianz Asset Management GmbH lifted its position in shares of Tenet Healthcare by 15.1% during the 4th quarter. Allianz Asset Management GmbH now owns 577,143 shares of the company’s stock valued at $72,853,000 after buying an additional 75,688 shares during the last quarter. Wealthfront Advisers LLC purchased a new stake in Tenet Healthcare in the 4th quarter worth about $69,059,000. Finally, Victory Capital Management Inc. boosted its position in Tenet Healthcare by 68.9% during the fourth quarter. Victory Capital Management Inc. now owns 507,055 shares of the company’s stock worth $64,006,000 after purchasing an additional 206,907 shares during the period. Hedge funds and other institutional investors own 95.44% of the company’s stock.

Insider Transactions at Tenet Healthcare

In other Tenet Healthcare news, Director J Robert Kerrey sold 9,525 shares of Tenet Healthcare stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $125.43, for a total value of $1,194,720.75. Following the completion of the transaction, the director now directly owns 27,378 shares of the company’s stock, valued at approximately $3,434,022.54. The trade was a 25.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.93% of the stock is owned by insiders.

Tenet Healthcare Stock Performance

NYSE:THC opened at $122.87 on Friday. The company has a quick ratio of 1.70, a current ratio of 1.78 and a debt-to-equity ratio of 2.25. Tenet Healthcare Co. has a twelve month low of $90.03 and a twelve month high of $171.20. The stock has a market cap of $11.69 billion, a P/E ratio of 3.81, a price-to-earnings-growth ratio of 1.02 and a beta of 2.06. The firm’s fifty day simple moving average is $132.20 and its 200 day simple moving average is $143.41.

Tenet Healthcare (NYSE:THC) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $3.44 earnings per share (EPS) for the quarter, beating 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 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on THC. The Goldman Sachs Group cut shares of Tenet Healthcare from a “buy” rating to a “neutral” rating and lowered their target price for the company from $196.00 to $140.00 in a report on Monday, December 16th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $177.00 target price on shares of Tenet Healthcare in a research note on Thursday, February 13th. StockNews.com upgraded Tenet Healthcare from a “hold” rating to a “buy” rating in a research report on Thursday, March 13th. KeyCorp cut their price target on shares of Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Finally, Wells Fargo & Company lowered shares of 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. 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $163.88.

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.