Prudential PLC Acquires 107 Shares of Tenet Healthcare Co. (NYSE:THC)

Prudential PLC grew its stake in Tenet Healthcare Co. (NYSE:THC) by 0.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 15,344 shares of the company’s stock after purchasing an additional 107 shares during the period. Prudential PLC’s holdings in Tenet Healthcare were worth $1,937,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. WR Wealth Planners LLC boosted its stake in Tenet Healthcare by 2,836.4% during the fourth quarter. WR Wealth Planners LLC now owns 323 shares of the company’s stock worth $41,000 after buying an additional 312 shares during the period. Smartleaf Asset Management LLC raised 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 worth $59,000 after purchasing an additional 110 shares during the period. Kestra Investment Management LLC bought a new stake in Tenet Healthcare in the fourth quarter worth about $60,000. Wilmington Savings Fund Society FSB grew its stake in shares of Tenet Healthcare by 1,352.8% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 523 shares of the company’s stock valued at $66,000 after buying an additional 487 shares during the last quarter. Finally, Spire Wealth Management raised its holdings in shares of Tenet Healthcare by 19.5% in the fourth quarter. Spire Wealth Management now owns 558 shares of the company’s stock worth $70,000 after buying an additional 91 shares during the period. Hedge funds and other institutional investors own 95.44% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on THC shares. KeyCorp reduced their target price on Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. TD Cowen started coverage on shares of Tenet Healthcare in a research report on Wednesday, February 26th. They issued a “buy” rating and a $175.00 price objective for the company. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $175.00 price target on shares of Tenet Healthcare in a research note on Tuesday, December 17th. Cantor Fitzgerald restated an “overweight” rating and set a $177.00 price objective on shares of Tenet Healthcare in a report on Thursday, February 13th. Finally, Morgan Stanley initiated coverage on Tenet Healthcare in a research report on Wednesday, March 26th. They set an “overweight” rating and a $165.00 price target on the stock. Three investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $166.41.

Tenet Healthcare Trading Down 9.5 %

Tenet Healthcare stock opened at $120.23 on Monday. Tenet Healthcare Co. has a one year low of $90.03 and a one year high of $171.20. The stock has a market cap of $11.44 billion, a PE ratio of 3.73, a price-to-earnings-growth ratio of 1.02 and a beta of 1.77. The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.70 and a current ratio of 1.78. The stock has a 50-day moving average of $132.13 and a two-hundred day moving average of $141.29.

Tenet Healthcare (NYSE:THC) last released its earnings results on Wednesday, February 12th. The company reported $3.44 earnings per share for the quarter, topping 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%. On average, research analysts anticipate that Tenet Healthcare Co. will post 12.24 EPS for the current fiscal year.

Insider Buying and Selling at Tenet Healthcare

In related news, Director J Robert Kerrey sold 9,525 shares of the company’s stock in a transaction that occurred 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 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 Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.93% of the company’s stock.

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.