Schroder Investment Management Group Decreases Position in Tenet Healthcare Co. (NYSE:THC)

Schroder Investment Management Group cut its stake in shares of Tenet Healthcare Co. (NYSE:THC) by 62.3% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 23,214 shares of the company’s stock after selling 38,398 shares during the period. Schroder Investment Management Group’s holdings in Tenet Healthcare were worth $2,912,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. WR Wealth Planners LLC boosted its stake in shares of Tenet Healthcare by 2,836.4% in the fourth 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 stake in shares of Tenet Healthcare by 30.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 471 shares of the company’s stock valued at $59,000 after acquiring an additional 110 shares in the last quarter. Kestra Investment Management LLC purchased a new stake in shares of Tenet Healthcare during the fourth quarter worth about $60,000. Wilmington Savings Fund Society FSB boosted its holdings in Tenet Healthcare by 1,352.8% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 523 shares of the company’s stock valued at $66,000 after purchasing an additional 487 shares during the last quarter. Finally, Spire Wealth Management grew its stake in Tenet Healthcare by 19.5% during the 4th quarter. Spire Wealth Management now owns 558 shares of the company’s stock valued at $70,000 after purchasing an additional 91 shares in the last quarter. Institutional investors and hedge funds own 95.44% of the company’s stock.

Insiders Place Their Bets

In other news, Director J Robert Kerrey sold 9,525 shares of the company’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 completion of the sale, the director now 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 through this link. 0.93% of the stock is currently owned by insiders.

Tenet Healthcare Stock Down 9.5 %

Shares of Tenet Healthcare stock opened at $120.23 on Friday. The company has a market capitalization of $11.44 billion, a P/E ratio of 3.73, a PEG ratio of 1.02 and a beta of 1.77. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.78 and a quick ratio of 1.70. Tenet Healthcare Co. has a 1-year low of $90.03 and a 1-year high of $171.20. The business’s fifty day moving average price is $132.13 and its two-hundred day moving average price is $141.43.

Tenet Healthcare (NYSE:THC) last released its earnings results on Wednesday, February 12th. The company reported $3.44 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 forecast that Tenet Healthcare Co. will post 12.24 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Cantor Fitzgerald reissued an “overweight” rating and set a $177.00 price target on shares of Tenet Healthcare in a research report on Thursday, February 13th. KeyCorp cut their target price 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 decreased their price target on Tenet Healthcare from $190.00 to $175.00 and set a “buy” rating for the company in a research note on Monday, January 6th. StockNews.com upgraded Tenet Healthcare from a “hold” rating to a “buy” rating in a research note on Thursday, March 13th. Finally, The Goldman Sachs Group downgraded Tenet Healthcare from a “buy” rating to a “neutral” rating and lowered their price target for the company from $196.00 to $140.00 in a report on Monday, December 16th. Three research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $166.41.

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.