BNP Paribas Financial Markets Sells 11,273 Shares of Tenet Healthcare Co. (NYSE:THC)

BNP Paribas Financial Markets reduced its position in Tenet Healthcare Co. (NYSE:THC) by 12.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 79,226 shares of the company’s stock after selling 11,273 shares during the period. BNP Paribas Financial Markets owned 0.08% of Tenet Healthcare worth $10,001,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GeoWealth Management LLC boosted its position in Tenet Healthcare by 39.8% during the fourth quarter. GeoWealth Management LLC now owns 295 shares of the company’s stock worth $37,000 after purchasing an additional 84 shares during the period. WR Wealth Planners LLC boosted its position 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 purchasing an additional 312 shares during the period. Smartleaf Asset Management LLC boosted its position in 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 purchasing an additional 110 shares during the period. Kestra Investment Management LLC bought a new position in Tenet Healthcare during the fourth quarter worth about $60,000. Finally, Wilmington Savings Fund Society FSB boosted its position in 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 purchasing an additional 487 shares during the period. Institutional investors own 95.44% of the company’s stock.

Tenet Healthcare Trading Down 0.2%

THC stock opened at $148.80 on Monday. The company has a market capitalization of $13.82 billion, a PE ratio of 4.62, a price-to-earnings-growth ratio of 1.02 and a beta of 1.63. Tenet Healthcare Co. has a one year low of $109.82 and a one year high of $171.20. The company’s 50 day moving average price is $129.38 and its two-hundred day moving average price is $135.83. The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.70 and a current ratio of 1.78.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $4.36 EPS for the quarter, topping the consensus estimate of $3.11 by $1.25. The firm had revenue of $5.22 billion for the quarter, compared to the consensus estimate of $5.15 billion. Tenet Healthcare had a net margin of 15.48% and a return on equity of 21.88%. The business’s revenue was down 2.5% compared to the same quarter last year. During the same period last year, the firm posted $3.22 earnings per share. As a group, analysts predict that Tenet Healthcare Co. will post 12.24 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Tenet Healthcare 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 transaction of $1,194,720.75. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.81% of the company’s stock.

Analyst Upgrades and Downgrades

THC has been the subject of a number of analyst reports. StockNews.com upgraded shares of Tenet Healthcare from a “hold” rating to a “buy” rating in a research report on Thursday, May 1st. UBS Group raised their price objective on shares of Tenet Healthcare from $217.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, April 30th. Royal Bank of Canada raised their price objective on shares of Tenet Healthcare from $183.00 to $189.00 and gave the company an “outperform” rating in a research report on Wednesday, April 30th. TD Cowen initiated 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. Finally, Baird R W lowered shares of Tenet Healthcare from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 15th. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Tenet Healthcare presently has an average rating of “Moderate Buy” and an average target price of $173.69.

About Tenet Healthcare

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.