KBC Group NV Reduces Stock Position in Tenet Healthcare Co. (NYSE:THC)

KBC Group NV cut its stake in Tenet Healthcare Co. (NYSE:THCGet Rating) by 26.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,874 shares of the company’s stock after selling 670 shares during the period. KBC Group NV’s holdings in Tenet Healthcare were worth $153,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the business. Mackenzie Financial Corp increased its stake in shares of Tenet Healthcare by 7.4% during the 3rd quarter. Mackenzie Financial Corp now owns 37,241 shares of the company’s stock worth $2,474,000 after purchasing an additional 2,560 shares in the last quarter. Schonfeld Strategic Advisors LLC increased its stake in shares of Tenet Healthcare by 37.2% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 84,200 shares of the company’s stock worth $5,595,000 after purchasing an additional 22,835 shares in the last quarter. Retirement Systems of Alabama increased its stake in shares of Tenet Healthcare by 1.2% during the 4th quarter. Retirement Systems of Alabama now owns 140,279 shares of the company’s stock worth $11,459,000 after purchasing an additional 1,665 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of Tenet Healthcare by 5.5% during the 3rd quarter. Victory Capital Management Inc. now owns 498,709 shares of the company’s stock worth $33,134,000 after purchasing an additional 26,194 shares in the last quarter. Finally, USA Financial Portformulas Corp purchased a new position in shares of Tenet Healthcare during the 3rd quarter worth approximately $142,000. 94.38% of the stock is owned by institutional investors.

NYSE:THC opened at $86.67 on Friday. The company has a current ratio of 1.38, a quick ratio of 1.31 and a debt-to-equity ratio of 7.55. The firm has a market capitalization of $9.31 billion, a price-to-earnings ratio of 10.29, a PEG ratio of 4.93 and a beta of 2.42. The firm’s fifty day simple moving average is $85.89 and its 200 day simple moving average is $78.61. Tenet Healthcare Co. has a twelve month low of $54.54 and a twelve month high of $92.65.

Tenet Healthcare (NYSE:THCGet Rating) last issued its quarterly earnings data on Wednesday, April 20th. The company reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.89. Tenet Healthcare had a net margin of 4.69% and a return on equity of 56.04%. The firm had revenue of $4.75 billion for the quarter, compared to analyst estimates of $4.74 billion. During the same quarter in the previous year, the business posted $1.30 EPS. The firm’s revenue was down .8% compared to the same quarter last year. On average, analysts predict that Tenet Healthcare Co. will post 6.58 earnings per share for the current year.

In other Tenet Healthcare news, Chairman Ronald A. Rittenmeyer sold 59,851 shares of the business’s stock in a transaction on Wednesday, March 2nd. The shares were sold at an average price of $90.12, for a total value of $5,393,772.12. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Richard J. Mark sold 6,000 shares of the business’s stock in a transaction dated Wednesday, March 9th. The stock was sold at an average price of $90.47, for a total transaction of $542,820.00. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.

A number of research analysts have recently weighed in on THC shares. StockNews.com began coverage on shares of Tenet Healthcare in a research note on Thursday, March 31st. They set a “hold” rating for the company. Wells Fargo & Company began coverage on shares of Tenet Healthcare in a research note on Monday, March 28th. They issued an “overweight” rating and a $100.00 target price for the company. Credit Suisse Group lifted their target price on shares of Tenet Healthcare from $109.00 to $111.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 9th. Jefferies Financial Group lifted their target price on shares of Tenet Healthcare from $120.00 to $125.00 and gave the stock a “buy” rating in a research note on Monday, March 7th. Finally, SVB Leerink reaffirmed a “buy” rating and issued a $100.00 target price on shares of Tenet Healthcare in a research note on Thursday, April 14th. Three investment 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 company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $97.00.

Tenet Healthcare Profile (Get Rating)

Tenet Healthcare Corporation operates as a diversified healthcare services company. The company operates in three segments: Hospital Operations and Other, Ambulatory Care, and Conifer. Its general hospitals offer acute care services, operating and recovery rooms, radiology and respiratory therapy services, clinical laboratories, and pharmacies.

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Institutional Ownership by Quarter for Tenet Healthcare (NYSE:THC)

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