Franklin Resources Inc. Decreases Stock Holdings in Tenet Healthcare Co. (NYSE:THC)

Franklin Resources Inc. lessened its position in shares of Tenet Healthcare Co. (NYSE:THC) by 6.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 429,334 shares of the company’s stock after selling 28,370 shares during the quarter. Franklin Resources Inc. owned about 0.45% of Tenet Healthcare worth $54,195,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. B. Metzler seel. Sohn & Co. AG lifted its holdings in shares of Tenet Healthcare by 14.5% during the 4th quarter. B. Metzler seel. Sohn & Co. AG now owns 7,977 shares of the company’s stock valued at $1,007,000 after purchasing an additional 1,011 shares during the last quarter. CIBC Private Wealth Group LLC increased its position in Tenet Healthcare by 1.7% during the 4th quarter. CIBC Private Wealth Group LLC now owns 5,619 shares of the company’s stock valued at $732,000 after buying an additional 92 shares in the last quarter. DnB Asset Management AS acquired a new stake in Tenet Healthcare in the fourth quarter worth about $6,488,000. denkapparat Operations GmbH purchased a new stake in shares of Tenet Healthcare during the fourth quarter worth about $291,000. Finally, Pictet Asset Management Holding SA increased its holdings in shares of Tenet Healthcare by 9.6% during the fourth quarter. Pictet Asset Management Holding SA now owns 14,018 shares of the company’s stock valued at $1,769,000 after acquiring an additional 1,232 shares in the last quarter. Hedge funds and other institutional investors own 95.44% of the company’s stock.

Insider Activity at Tenet Healthcare

In other Tenet Healthcare news, Director J Robert Kerrey sold 9,525 shares of the stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $125.43, for a total transaction of $1,194,720.75. Following the completion of the transaction, the director now owns 27,378 shares of the company’s stock, valued at $3,434,022.54. This represents a 25.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.93% of the stock is currently owned by corporate insiders.

Tenet Healthcare Stock Performance

NYSE THC opened at $120.23 on Friday. 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 twelve month low of $90.03 and a twelve month high of $171.20. The stock has a 50-day moving average of $132.13 and a 200 day moving average of $141.54. The stock has a market capitalization of $11.44 billion, a price-to-earnings ratio of 3.73, a PEG ratio of 1.02 and a beta of 1.77.

Tenet Healthcare (NYSE:THC) last released its quarterly earnings results on Wednesday, February 12th. The company reported $3.44 earnings per share (EPS) 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%. Sell-side analysts anticipate that Tenet Healthcare Co. will post 12.24 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

THC has been the topic of several research analyst reports. Cantor Fitzgerald reissued an “overweight” rating and set a $177.00 target price on shares of Tenet Healthcare in a research report on Thursday, February 13th. Barclays reduced their target price on Tenet Healthcare from $190.00 to $161.00 and set an “overweight” rating for the company in a research note on Thursday, February 13th. KeyCorp dropped their price target on Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. Morgan Stanley initiated coverage on Tenet Healthcare in a report on Wednesday, March 26th. They set an “overweight” rating and a $165.00 target price for the company. Finally, The Goldman Sachs Group downgraded shares of Tenet Healthcare from a “buy” rating to a “neutral” rating and cut their price target for the stock from $196.00 to $140.00 in a report on Monday, December 16th. Three investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $166.41.

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.