Texas Permanent School Fund reduced its holdings in Tenet Healthcare Co. (NYSE:THC – Get Rating) by 6.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 72,690 shares of the company’s stock after selling 4,904 shares during the quarter. Texas Permanent School Fund owned about 0.07% of Tenet Healthcare worth $3,547,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in THC. US Bancorp DE raised its stake in shares of Tenet Healthcare by 14.6% in the first quarter. US Bancorp DE now owns 1,428 shares of the company’s stock valued at $123,000 after buying an additional 182 shares during the period. Louisiana State Employees Retirement System raised its stake in shares of Tenet Healthcare by 0.7% during the 4th quarter. Louisiana State Employees Retirement System now owns 28,900 shares of the company’s stock valued at $1,410,000 after purchasing an additional 200 shares during the period. SummerHaven Investment Management LLC raised its stake in shares of Tenet Healthcare by 1.8% during the 4th quarter. SummerHaven Investment Management LLC now owns 14,480 shares of the company’s stock valued at $706,000 after purchasing an additional 250 shares during the period. Envestnet Asset Management Inc. raised its stake in shares of Tenet Healthcare by 1.5% during the 4th quarter. Envestnet Asset Management Inc. now owns 17,262 shares of the company’s stock valued at $842,000 after purchasing an additional 252 shares during the period. Finally, Thrivent Financial for Lutherans raised its stake in shares of Tenet Healthcare by 1.0% during the 2nd quarter. Thrivent Financial for Lutherans now owns 28,261 shares of the company’s stock valued at $1,485,000 after purchasing an additional 268 shares during the period. 98.14% of the stock is currently owned by institutional investors.
Insider Buying and Selling at Tenet Healthcare
In other Tenet Healthcare news, EVP Thomas W. Arnst sold 825 shares of the company’s stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of $61.00, for a total transaction of $50,325.00. Following the completion of the transaction, the executive vice president now owns 22,778 shares of the company’s stock, valued at approximately $1,389,458. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Tenet Healthcare news, EVP Thomas W. Arnst sold 825 shares of the company’s stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of $61.00, for a total transaction of $50,325.00. Following the completion of the transaction, the executive vice president now owns 22,778 shares of the company’s stock, valued at approximately $1,389,458. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Tammy Romo sold 7,000 shares of the company’s stock in a transaction that occurred on Friday, March 3rd. The shares were sold at an average price of $60.95, for a total value of $426,650.00. Following the transaction, the director now directly owns 57,598 shares of the company’s stock, valued at approximately $3,510,598.10. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
Tenet Healthcare Trading Up 1.3 %
Shares of THC stock opened at $69.35 on Monday. The stock has a market capitalization of $7.07 billion, a PE ratio of 18.49, a P/E/G ratio of 4.80 and a beta of 2.18. Tenet Healthcare Co. has a 1-year low of $36.69 and a 1-year high of $76.09. The business has a 50-day moving average of $61.36 and a 200 day moving average of $53.23. The company has a debt-to-equity ratio of 5.79, a current ratio of 1.39 and a quick ratio of 1.29.
Tenet Healthcare (NYSE:THC – Get Rating) last issued its earnings results on Tuesday, April 25th. The company reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.26. The company had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $4.85 billion. Tenet Healthcare had a return on equity of 28.65% and a net margin of 2.13%. Tenet Healthcare’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.93 EPS. As a group, sell-side analysts anticipate that Tenet Healthcare Co. will post 5.64 earnings per share for the current year.
Tenet Healthcare Profile
Tenet Healthcare Corp. engages in the provision of healthcare services. It operates through the following segments: Hospital Operations and Other, Ambulatory Care, and Conifer. The Hospital Operations and Other segment is composed of acute care hospitals, ancillary outpatient facilities, urgent care centers, micro hospitals and physician practices.
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