NJ State Employees Deferred Compensation Plan Sells 1,300 Shares of Tenet Healthcare Co. (NYSE:THC)

NJ State Employees Deferred Compensation Plan lowered its position in Tenet Healthcare Co. (NYSE:THC) by 8.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 14,700 shares of the company’s stock after selling 1,300 shares during the period. NJ State Employees Deferred Compensation Plan’s holdings in Tenet Healthcare were worth $1,856,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. LGT Fund Management Co Ltd. purchased a new stake in shares of Tenet Healthcare in the 4th quarter worth approximately $2,073,000. Smartleaf Asset Management LLC grew its stake in shares of Tenet Healthcare by 30.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 471 shares of the company’s stock worth $59,000 after buying an additional 110 shares during the last quarter. US Bancorp DE grew its stake in shares of Tenet Healthcare by 53.5% in the 4th quarter. US Bancorp DE now owns 8,552 shares of the company’s stock worth $1,080,000 after buying an additional 2,980 shares during the last quarter. WR Wealth Planners LLC boosted its stake in Tenet Healthcare by 2,836.4% during the 4th quarter. WR Wealth Planners LLC now owns 323 shares of the company’s stock valued at $41,000 after purchasing an additional 312 shares during the last quarter. Finally, Versor Investments LP boosted its stake in Tenet Healthcare by 69.1% during the 4th quarter. Versor Investments LP now owns 9,200 shares of the company’s stock valued at $1,161,000 after purchasing an additional 3,761 shares during the last quarter. Hedge funds and other institutional investors own 95.44% of the company’s stock.

Tenet Healthcare Price Performance

Shares of Tenet Healthcare stock opened at $124.48 on Tuesday. Tenet Healthcare Co. has a one year low of $90.03 and a one year high of $171.20. The stock’s fifty day moving average is $132.92 and its 200 day moving average is $146.77. The stock has a market cap of $11.84 billion, a P/E ratio of 3.86, a P/E/G ratio of 1.02 and a beta of 2.05. The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.70 and a current ratio of 1.78.

Tenet Healthcare (NYSE:THC) last announced its earnings results on Wednesday, February 12th. The company reported $3.44 EPS for the quarter, topping analysts’ consensus estimates of $2.95 by $0.49. Tenet Healthcare had a return on equity of 21.88% and a net margin of 15.48%. Sell-side analysts anticipate that Tenet Healthcare Co. will post 12.24 earnings per share for the current year.

Wall Street Analysts Forecast Growth

THC has been the topic of several recent analyst reports. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $175.00 target price on shares of Tenet Healthcare in a research note on Tuesday, December 17th. StockNews.com upgraded Tenet Healthcare from a “hold” rating to a “buy” rating in a research note on Tuesday, February 25th. TD Cowen initiated coverage on Tenet Healthcare in a research note on Wednesday, February 26th. They set a “buy” rating and a $175.00 target price on the stock. The Goldman Sachs Group downgraded Tenet Healthcare from a “buy” rating to a “neutral” rating and cut their target price for the company from $196.00 to $140.00 in a research note on Monday, December 16th. Finally, Barclays dropped their price target on Tenet Healthcare from $190.00 to $161.00 and set an “overweight” rating on the stock in a research note on Thursday, February 13th. Three analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Tenet Healthcare has a consensus rating of “Moderate Buy” and a consensus target price of $163.88.

About Tenet Healthcare

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.