Zurcher Kantonalbank Zurich Cantonalbank Has $4.09 Million Stake in Tenet Healthcare Co. (NYSE:THC)

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Tenet Healthcare Co. (NYSE:THC) by 5.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,370 shares of the company’s stock after purchasing an additional 1,656 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Tenet Healthcare were worth $4,086,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. FMR LLC raised its stake in shares of Tenet Healthcare by 88.0% in the 3rd quarter. FMR LLC now owns 7,700,693 shares of the company’s stock valued at $1,279,855,000 after purchasing an additional 3,604,161 shares during the period. Geode Capital Management LLC raised its position in Tenet Healthcare by 23.6% in the 3rd quarter. Geode Capital Management LLC now owns 2,044,667 shares of the company’s stock valued at $339,893,000 after buying an additional 390,316 shares during the last quarter. Allianz Asset Management GmbH boosted its position in Tenet Healthcare by 15.1% during the 4th quarter. Allianz Asset Management GmbH now owns 577,143 shares of the company’s stock worth $72,853,000 after acquiring an additional 75,688 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Tenet Healthcare by 68.9% during the 4th quarter. Victory Capital Management Inc. now owns 507,055 shares of the company’s stock worth $64,006,000 after acquiring an additional 206,907 shares in the last quarter. Finally, Franklin Resources Inc. lifted its position in shares of Tenet Healthcare by 11.9% in the third quarter. Franklin Resources Inc. now owns 457,704 shares of the company’s stock worth $71,077,000 after purchasing an additional 48,580 shares in the last quarter. 95.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

THC has been the topic of several analyst reports. KeyCorp cut their price target on shares of Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. The Goldman Sachs Group downgraded Tenet Healthcare from a “buy” rating to a “neutral” rating and decreased their price target for the company from $196.00 to $140.00 in a research note on Monday, December 16th. Wells Fargo & Company cut Tenet Healthcare from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $205.00 to $150.00 in a research note on Monday, November 25th. 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. Finally, Raymond James cut shares of Tenet Healthcare from a “strong-buy” rating to an “outperform” rating and set a $195.00 price target for the company. in a research note on Friday, November 22nd. 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. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $163.88.

Tenet Healthcare Price Performance

NYSE:THC opened at $122.76 on Friday. 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 firm has a market cap of $11.68 billion, a price-to-earnings ratio of 3.81, a P/E/G ratio of 1.02 and a beta of 2.06. Tenet Healthcare Co. has a 52 week low of $90.03 and a 52 week high of $171.20. The firm’s 50-day simple moving average is $132.46 and its 200 day simple moving average is $144.62.

Tenet Healthcare (NYSE:THC) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $3.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.95 by $0.49. Tenet Healthcare had a return on equity of 21.88% and a net margin of 15.48%. As a group, sell-side analysts predict that Tenet Healthcare Co. will post 12.24 earnings per share for the current year.

Insider Buying and Selling

In other news, Director J Robert Kerrey sold 9,525 shares of the business’s 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 transaction, the director now directly owns 27,378 shares in the company, valued at approximately $3,434,022.54. The trade was a 25.81 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.93% of the stock is currently owned by company insiders.

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.