New York State Teachers Retirement System Has $13.76 Million Stake in Tenet Healthcare Corporation (NYSE:THC)

New York State Teachers Retirement System lessened its stake in shares of Tenet Healthcare Corporation (NYSE:THC) by 5.1% during the 1st quarter, HoldingsChannel reports. The firm owned 102,269 shares of the company’s stock after selling 5,507 shares during the quarter. New York State Teachers Retirement System’s holdings in Tenet Healthcare were worth $13,755,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. US Bancorp DE lifted its position in shares of Tenet Healthcare by 53.5% during the 4th quarter. US Bancorp DE now owns 8,552 shares of the company’s stock worth $1,080,000 after purchasing an additional 2,980 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings 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 worth $59,000 after buying an additional 110 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Tenet Healthcare by 68.9% in the fourth quarter. Victory Capital Management Inc. now owns 507,055 shares of the company’s stock worth $64,006,000 after acquiring an additional 206,907 shares during the last quarter. Assetmark Inc. increased its position in Tenet Healthcare by 173.1% during the fourth quarter. Assetmark Inc. now owns 14,871 shares of the company’s stock worth $1,877,000 after acquiring an additional 9,425 shares during the period. Finally, Proficio Capital Partners LLC bought a new stake in Tenet Healthcare in the 4th quarter valued at $5,832,000. 95.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

THC has been the topic of several research reports. Guggenheim began coverage on shares of Tenet Healthcare in a report on Wednesday, April 9th. They set a “buy” rating and a $165.00 price objective on the stock. UBS Group upped their price target on Tenet Healthcare from $217.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, April 30th. Robert W. Baird reissued a “neutral” rating and set a $137.00 price objective (down previously from $153.00) on shares of Tenet Healthcare in a report on Tuesday, April 15th. Baird R W lowered Tenet Healthcare from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 15th. Finally, Wells Fargo & Company raised shares of Tenet Healthcare from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $150.00 to $195.00 in a report on Thursday, May 29th. Three analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Tenet Healthcare presently has a consensus rating of “Moderate Buy” and a consensus target price of $183.94.

Insider Buying and Selling at Tenet Healthcare

In other Tenet Healthcare news, EVP Paola M. Arbour sold 7,738 shares of the business’s stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $173.00, for a total value of $1,338,674.00. Following the completion of the transaction, the executive vice president directly owned 20,110 shares of the company’s stock, valued at approximately $3,479,030. The trade was a 27.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director J Robert Kerrey sold 5,001 shares of the stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $148.50, for a total transaction of $742,648.50. Following the sale, the director directly owned 22,377 shares in the company, valued at $3,322,984.50. This trade represents a 18.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 54,121 shares of company stock worth $8,846,305 over the last quarter. Corporate insiders own 0.81% of the company’s stock.

Tenet Healthcare Stock Performance

NYSE THC opened at $171.50 on Friday. The firm has a market cap of $15.93 billion, a price-to-earnings ratio of 11.34, a PEG ratio of 1.26 and a beta of 1.64. Tenet Healthcare Corporation has a 1-year low of $109.82 and a 1-year high of $178.76. The company has a 50 day moving average of $161.59 and a 200-day moving average of $140.63. The company has a current ratio of 1.78, a quick ratio of 1.70 and a debt-to-equity ratio of 2.23.

Tenet Healthcare (NYSE:THC) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $4.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.11 by $1.25. The firm had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $5.15 billion. Tenet Healthcare had a return on equity of 22.58% and a net margin of 7.09%. The business’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.22 EPS. On average, equities analysts forecast that Tenet Healthcare Corporation will post 12.24 earnings per share for the current fiscal 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.