BNP Paribas Financial Markets Sells 11,273 Shares of Tenet Healthcare Co. (NYSE:THC)

BNP Paribas Financial Markets decreased its position in Tenet Healthcare Co. (NYSE:THC) by 12.5% during the 4th quarter, Holdings Channel reports. The firm owned 79,226 shares of the company’s stock after selling 11,273 shares during the period. BNP Paribas Financial Markets’ holdings in Tenet Healthcare were worth $10,001,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in THC. Norges Bank bought a new stake in Tenet Healthcare in the fourth quarter valued at $190,819,000. Wealthfront Advisers LLC bought a new stake in shares of Tenet Healthcare during the 4th quarter valued at $69,059,000. Raymond James Financial Inc. bought a new stake in shares of Tenet Healthcare during the 4th quarter valued at $49,001,000. Renaissance Technologies LLC boosted its holdings in shares of Tenet Healthcare by 579.2% during the 4th quarter. Renaissance Technologies LLC now owns 438,563 shares of the company’s stock valued at $55,360,000 after buying an additional 373,988 shares in the last quarter. Finally, Bridgewater Associates LP boosted its holdings in shares of Tenet Healthcare by 225.4% during the 4th quarter. Bridgewater Associates LP now owns 407,194 shares of the company’s stock valued at $51,400,000 after buying an additional 282,071 shares in the last quarter. Institutional investors own 95.44% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on THC shares. StockNews.com upgraded shares of Tenet Healthcare from a “hold” rating to a “buy” rating in a report on Thursday, May 1st. Guggenheim assumed coverage on shares of Tenet Healthcare in a report on Wednesday, April 9th. They set a “buy” rating and a $165.00 target price on the stock. Barclays lifted their price target on Tenet Healthcare from $161.00 to $171.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 30th. Morgan Stanley lifted their price target on Tenet Healthcare from $165.00 to $175.00 and gave the stock an “overweight” rating in a research report on Monday, May 5th. Finally, Baird R W lowered Tenet Healthcare from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 15th. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $173.69.

Insider Transactions at Tenet Healthcare

In other news, Director J Robert Kerrey sold 9,525 shares of the 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 transaction, the director now owns 27,378 shares in the company, valued at $3,434,022.54. This represents a 25.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.81% of the company’s stock.

Tenet Healthcare Price Performance

THC opened at $148.80 on Monday. 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 stock has a market capitalization of $13.82 billion, a P/E ratio of 4.62, a P/E/G ratio of 1.02 and a beta of 1.63. The company’s 50-day simple moving average is $129.38 and its two-hundred day simple moving average is $135.83. Tenet Healthcare Co. has a 52-week low of $109.82 and a 52-week high of $171.20.

Tenet Healthcare (NYSE:THC) last posted its earnings results on Tuesday, April 29th. The company reported $4.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.11 by $1.25. Tenet Healthcare had a net margin of 15.48% and a return on equity of 21.88%. The business had revenue of $5.22 billion for the quarter, compared to analysts’ expectations of $5.15 billion. During the same quarter in the prior year, the business earned $3.22 EPS. The business’s revenue for the quarter was down 2.5% compared to the same quarter last year. As a group, analysts predict that Tenet Healthcare Co. will post 12.24 EPS for the current year.

Tenet Healthcare Company 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.