Schroder Investment Management Group Trims Stake in Tenet Healthcare Co. (NYSE:THC)

Schroder Investment Management Group decreased its position in shares of Tenet Healthcare Co. (NYSE:THC) by 62.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm 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 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. WR Wealth Planners LLC raised its position in Tenet Healthcare by 2,836.4% in the 4th 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 last quarter. Smartleaf Asset Management LLC increased its stake in Tenet Healthcare by 30.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 471 shares of the company’s stock valued at $59,000 after purchasing an additional 110 shares during the period. Kestra Investment Management LLC purchased a new stake in shares of Tenet Healthcare in the fourth quarter valued at about $60,000. Wilmington Savings Fund Society FSB grew its holdings 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 worth $66,000 after buying an additional 487 shares during the last quarter. Finally, Spire Wealth Management increased its position in Tenet Healthcare by 19.5% in the 4th quarter. Spire Wealth Management now owns 558 shares of the company’s stock valued at $70,000 after acquiring an additional 91 shares during the period. Hedge funds and other institutional investors own 95.44% of the company’s stock.

Insider Activity

In other Tenet Healthcare news, Director J Robert Kerrey sold 9,525 shares of the firm’s stock in a transaction dated 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 directly owns 27,378 shares of the company’s stock, valued at approximately $3,434,022.54. This trade represents a 25.81 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on THC shares. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $175.00 price objective on shares of Tenet Healthcare in a research note on Tuesday, December 17th. TD Cowen started coverage on shares of Tenet Healthcare in a report on Wednesday, February 26th. They set a “buy” rating and a $175.00 price target for the company. Truist Financial lowered their price objective on Tenet Healthcare from $190.00 to $175.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Barclays reduced their price target on Tenet Healthcare from $190.00 to $161.00 and set an “overweight” rating for the company in a report on Thursday, February 13th. Finally, The Goldman Sachs Group cut Tenet Healthcare from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $196.00 to $140.00 in a research 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 assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $166.41.

Tenet Healthcare Stock Down 9.5 %

Shares of NYSE:THC opened at $120.23 on Friday. The stock’s fifty day simple moving average is $132.13 and its 200-day simple moving average is $141.43. Tenet Healthcare Co. has a 52-week low of $90.03 and a 52-week high of $171.20. The company has a market capitalization of $11.44 billion, a P/E ratio of 3.73, a P/E/G ratio of 1.02 and a beta of 1.77. The company has a quick ratio of 1.70, a current ratio of 1.78 and a debt-to-equity ratio of 2.25.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $3.44 earnings per share for the quarter, beating analysts’ consensus estimates 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, equities research analysts forecast that Tenet Healthcare Co. will post 12.24 earnings per share for the current fiscal year.

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.