Tenet Healthcare Corporation (NYSE:THC) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. trimmed its holdings in shares of Tenet Healthcare Corporation (NYSE:THC) by 0.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 660,052 shares of the company’s stock after selling 4,795 shares during the period. Charles Schwab Investment Management Inc. owned about 0.71% of Tenet Healthcare worth $88,777,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Raymond James Financial Inc. acquired a new position in shares of Tenet Healthcare during the fourth quarter worth $49,001,000. Bridgewater Associates LP lifted its position in shares of Tenet Healthcare by 225.4% during the fourth quarter. Bridgewater Associates LP now owns 407,194 shares of the company’s stock worth $51,400,000 after purchasing an additional 282,071 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Tenet Healthcare by 22.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,493,532 shares of the company’s stock worth $188,524,000 after purchasing an additional 272,906 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of Tenet Healthcare by 45.2% during the first quarter. Victory Capital Management Inc. now owns 736,252 shares of the company’s stock worth $99,026,000 after purchasing an additional 229,197 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Tenet Healthcare by 17,134.3% during the first quarter. GAMMA Investing LLC now owns 192,335 shares of the company’s stock worth $25,869,000 after purchasing an additional 191,219 shares in the last quarter. 95.44% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Tenet Healthcare

In related news, EVP Thomas W. Arnst sold 9,786 shares of the stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $166.00, for a total value of $1,624,476.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Paola M. Arbour sold 7,738 shares of the company’s stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $173.00, for a total transaction of $1,338,674.00. Following the completion of the sale, the executive vice president directly owned 20,110 shares of the company’s stock, valued at $3,479,030. The trade was a 27.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 49,120 shares of company stock worth $8,103,656 over the last ninety days. Insiders own 0.81% of the company’s stock.

Tenet Healthcare Stock Up 2.3%

Tenet Healthcare stock opened at $170.43 on Wednesday. The company has a 50-day simple moving average of $167.11 and a 200-day simple moving average of $147.78. The firm has a market capitalization of $15.06 billion, a P/E ratio of 10.91, a P/E/G ratio of 0.71 and a beta of 1.52. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.63 and a current ratio of 1.71. Tenet Healthcare Corporation has a one year low of $109.82 and a one year high of $185.25.

Tenet Healthcare (NYSE:THC) last announced its earnings results on Tuesday, July 22nd. The company reported $4.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.84 by $1.18. The firm had revenue of $5.27 billion during the quarter, compared to analyst estimates of $5.16 billion. Tenet Healthcare had a net margin of 7.17% and a return on equity of 24.69%. Tenet Healthcare’s revenue was up 3.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.31 EPS. As a group, equities analysts expect that Tenet Healthcare Corporation will post 12.24 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on THC. Barclays reduced their target price on shares of Tenet Healthcare from $215.00 to $208.00 and set an “overweight” rating on the stock in a research report on Thursday, July 24th. Baird R W cut shares of Tenet Healthcare from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 15th. Wolfe Research cut shares of Tenet Healthcare from an “outperform” rating to a “peer perform” rating in a report on Monday, July 28th. Wells Fargo & Company raised shares of Tenet Healthcare from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $150.00 to $195.00 in a report on Thursday, May 29th. Finally, Bank of America upped their price target on shares of Tenet Healthcare from $165.00 to $180.00 and gave the company a “buy” rating in a report on Wednesday, May 14th. Four investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $191.56.

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.