Arizona State Retirement System Sells 317 Shares of Tenet Healthcare Co. (NYSE:THC)

Arizona State Retirement System decreased its position in shares of Tenet Healthcare Co. (NYSE:THC) by 1.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 27,810 shares of the company’s stock after selling 317 shares during the quarter. Arizona State Retirement System’s holdings in Tenet Healthcare were worth $3,510,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the company. Plato Investment Management Ltd purchased a new position in shares of Tenet Healthcare in the third quarter worth $28,000. True Wealth Design LLC purchased a new position in Tenet Healthcare in the 3rd quarter worth about $38,000. WR Wealth Planners LLC boosted its holdings in shares of Tenet Healthcare by 2,836.4% during the 4th quarter. WR Wealth Planners LLC now owns 323 shares of the company’s stock valued at $41,000 after acquiring an additional 312 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in shares of Tenet Healthcare by 30.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 471 shares of the company’s stock worth $59,000 after acquiring an additional 110 shares during the period. Finally, Kestra Investment Management LLC bought a new position in Tenet Healthcare during the fourth quarter valued at approximately $60,000. 95.44% of the stock is currently owned by hedge funds and other institutional investors.

Tenet Healthcare Stock Performance

NYSE:THC opened at $127.64 on Monday. The stock has a 50-day moving average price of $132.66 and a 200 day moving average price of $145.89. The company has a current ratio of 1.78, a quick ratio of 1.70 and a debt-to-equity ratio of 2.25. Tenet Healthcare Co. has a 12-month low of $90.03 and a 12-month high of $171.20. The stock has a market capitalization of $12.14 billion, a P/E ratio of 3.96, a P/E/G ratio of 1.02 and a beta of 2.06.

Tenet Healthcare (NYSE:THC) last released its earnings results on Wednesday, February 12th. The company reported $3.44 EPS for the quarter, topping 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%. Equities research analysts forecast that Tenet Healthcare Co. will post 12.24 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have weighed in on THC. Barclays decreased their target price on shares of Tenet Healthcare from $190.00 to $161.00 and set an “overweight” rating for the company in a research note on Thursday, February 13th. Raymond James downgraded Tenet Healthcare from a “strong-buy” rating to an “outperform” rating and set a $195.00 target price on the stock. in a report on Friday, November 22nd. KeyCorp cut their price target on Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $175.00 price objective on shares of Tenet Healthcare in a report on Tuesday, December 17th. Finally, Truist Financial reduced their target price on shares of Tenet Healthcare from $190.00 to $175.00 and set a “buy” rating for the company in a report on Monday, January 6th. Four equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Tenet Healthcare currently has an average rating of “Moderate Buy” and a consensus price target of $163.88.

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.