Commonwealth Bank of Australia lowered its holdings in Tenet Healthcare Corp (NYSE:THC) by 29.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,000 shares of the company’s stock after selling 17,800 shares during the period. Commonwealth Bank of Australia’s holdings in Tenet Healthcare were worth $733,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in THC. Oregon Public Employees Retirement Fund grew its position in Tenet Healthcare by 1,653.4% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 565,569 shares of the company’s stock valued at $33,000 after purchasing an additional 533,313 shares in the last quarter. Enlightenment Research LLC bought a new position in Tenet Healthcare in the fourth quarter valued at $36,000. Pearl River Capital LLC bought a new position in Tenet Healthcare in the fourth quarter valued at $41,000. Bessemer Group Inc. grew its position in Tenet Healthcare by 346.3% in the fourth quarter. Bessemer Group Inc. now owns 3,325 shares of the company’s stock valued at $57,000 after purchasing an additional 2,580 shares in the last quarter. Finally, Quantamental Technologies LLC bought a new position in Tenet Healthcare in the fourth quarter valued at $67,000. 83.91% of the stock is owned by institutional investors and hedge funds.
NYSE THC opened at $29.20 on Friday. The company has a quick ratio of 1.12, a current ratio of 1.20 and a debt-to-equity ratio of 21.32. The stock has a market cap of $3.00 billion, a PE ratio of 15.70, a P/E/G ratio of 0.56 and a beta of 1.83. Tenet Healthcare Corp has a 52-week low of $16.60 and a 52-week high of $39.74.
A number of research analysts recently weighed in on the stock. Zacks Investment Research raised shares of Tenet Healthcare from a “sell” rating to a “buy” rating and set a $24.00 target price for the company in a research report on Tuesday, January 15th. Bank of America reiterated a “neutral” rating and issued a $30.00 price target (up previously from $21.00) on shares of Tenet Healthcare in a research note on Tuesday, February 26th. ValuEngine upgraded shares of Tenet Healthcare from a “sell” rating to a “hold” rating in a research note on Wednesday, January 9th. Citigroup increased their price target on shares of Tenet Healthcare from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, February 27th. Finally, Raymond James increased their price target on shares of Tenet Healthcare from $37.00 to $47.00 in a research note on Wednesday, February 27th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $30.71.
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Tenet Healthcare Profile
Tenet Healthcare Corporation operates as a diversified healthcare services company. It operates in three segments: Hospital Operations and Other, Ambulatory Care, and Conifer. The company's general hospitals offer acute care services, operating and recovery rooms, radiology and respiratory therapy services, clinical laboratories, and pharmacies.
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