Tenet Healthcare Co. (NYSE:THC) Shares Sold by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd trimmed its stake in shares of Tenet Healthcare Co. (NYSE:THC) by 94.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 507 shares of the company’s stock after selling 8,945 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Tenet Healthcare were worth $64,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. True Wealth Design LLC purchased a new position in Tenet Healthcare in the 3rd quarter valued at $38,000. WR Wealth Planners LLC increased its stake in shares of 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 acquiring an additional 312 shares during the period. Smartleaf Asset Management LLC raised its holdings 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 in the last quarter. Kestra Investment Management LLC purchased a new stake in Tenet Healthcare in the 4th quarter valued at approximately $60,000. Finally, Hantz Financial Services Inc. purchased a new position in shares of Tenet Healthcare during the 3rd quarter worth approximately $83,000. 95.44% of the stock is currently owned by hedge funds and other institutional investors.

Tenet Healthcare Trading Down 2.7 %

NYSE THC opened at $122.87 on Monday. The company’s fifty day moving average price is $132.20 and its two-hundred day moving average price is $143.15. The company has a market capitalization of $11.69 billion, a price-to-earnings ratio of 3.81, a price-to-earnings-growth ratio of 1.02 and a beta of 2.06. Tenet Healthcare Co. has a 12 month low of $90.03 and a 12 month high of $171.20. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.78 and a quick ratio of 1.70.

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

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on THC shares. The Goldman Sachs Group downgraded Tenet Healthcare from a “buy” rating to a “neutral” rating and reduced their target price for the company from $196.00 to $140.00 in a report on Monday, December 16th. Wells Fargo & Company downgraded Tenet Healthcare from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $205.00 to $150.00 in a research report on Monday, November 25th. Barclays dropped their price objective on Tenet Healthcare from $190.00 to $161.00 and set an “overweight” rating for the company in a research report on Thursday, February 13th. KeyCorp reduced their target price on shares of Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $177.00 price objective on shares of Tenet Healthcare in a research report on Thursday, February 13th. Three investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $163.88.

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.