Tenet Healthcare Co. (NYSE:THC) Shares Sold by Rhenman & Partners Asset Management AB

Rhenman & Partners Asset Management AB reduced its position in Tenet Healthcare Co. (NYSE:THC) by 10.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 197,700 shares of the company’s stock after selling 23,700 shares during the period. Tenet Healthcare makes up 2.6% of Rhenman & Partners Asset Management AB’s investment portfolio, making the stock its 10th largest holding. Rhenman & Partners Asset Management AB owned about 0.21% of Tenet Healthcare worth $24,956,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of THC. New Wave Wealth Advisors LLC acquired a new position in shares of Tenet Healthcare during the fourth quarter valued at about $343,000. Swedbank AB boosted its stake in Tenet Healthcare by 100.0% during the 4th quarter. Swedbank AB now owns 40,000 shares of the company’s stock valued at $5,049,000 after purchasing an additional 20,000 shares during the last quarter. Signet Financial Management LLC bought a new stake in Tenet Healthcare during the 4th quarter worth approximately $1,526,000. China Universal Asset Management Co. Ltd. bought a new position in shares of Tenet Healthcare in the fourth quarter valued at approximately $410,000. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in Tenet Healthcare during the fourth quarter worth $5,892,000. Institutional investors own 95.44% of the company’s stock.

Insider Transactions at Tenet Healthcare

In related news, Director J Robert Kerrey sold 9,525 shares of Tenet Healthcare stock in a transaction that occurred on 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 sale, the director now directly owns 27,378 shares in the company, valued at $3,434,022.54. This trade represents a 25.81 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.93% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $177.00 price objective on shares of Tenet Healthcare in a research report on Thursday, February 13th. Morgan Stanley started coverage on shares of Tenet Healthcare in a report on Wednesday, March 26th. They issued an “overweight” rating and a $165.00 price target on the stock. The Goldman Sachs Group lowered shares of Tenet Healthcare from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $196.00 to $140.00 in a research report on Monday, December 16th. JPMorgan Chase & Co. restated an “overweight” rating and set a $175.00 price target on shares of Tenet Healthcare in a research note on Tuesday, December 17th. Finally, StockNews.com upgraded Tenet Healthcare from a “hold” rating to a “buy” rating in a research note on Thursday, March 13th. Three equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $166.41.

Tenet Healthcare Trading Down 9.5 %

THC opened at $120.23 on Friday. Tenet Healthcare Co. has a one year low of $90.03 and a one year high of $171.20. 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 market cap of $11.44 billion, a price-to-earnings ratio of 3.73, a P/E/G ratio of 1.02 and a beta of 1.77. The stock’s 50 day moving average price is $132.13 and its 200-day moving average price is $141.54.

Tenet Healthcare (NYSE:THC) last released its quarterly earnings data 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%. On average, equities analysts forecast that Tenet Healthcare Co. will post 12.24 EPS for the current 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.