Mount Lucas Management LP Has $1.02 Million Stock Holdings in Tenet Healthcare Co. (NYSE:THC)

Mount Lucas Management LP lowered its stake in shares of Tenet Healthcare Co. (NYSE:THC) by 17.5% during the fourth quarter, Holdings Channel reports. The fund owned 8,075 shares of the company’s stock after selling 1,710 shares during the period. Mount Lucas Management LP’s holdings in Tenet Healthcare were worth $1,019,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Kendall Capital Management acquired a new stake in shares of Tenet Healthcare in the fourth quarter valued at approximately $478,000. Jackson Creek Investment Advisors LLC increased its stake in shares of Tenet Healthcare by 10.7% in the 4th quarter. Jackson Creek Investment Advisors LLC now owns 2,716 shares of the company’s stock valued at $343,000 after buying an additional 263 shares during the period. Candriam S.C.A. lifted its stake in shares of Tenet Healthcare by 58.6% during the fourth quarter. Candriam S.C.A. now owns 142,001 shares of the company’s stock valued at $17,925,000 after acquiring an additional 52,491 shares during the period. Inceptionr LLC boosted its holdings in Tenet Healthcare by 25.6% in the fourth quarter. Inceptionr LLC now owns 6,870 shares of the company’s stock valued at $867,000 after acquiring an additional 1,402 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Tenet Healthcare during the 4th quarter worth about $49,001,000. Institutional investors and hedge funds own 95.44% of the company’s stock.

Analyst Upgrades and Downgrades

THC has been the subject of several analyst reports. KeyCorp lowered their price target on shares of Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Raymond James lowered shares of Tenet Healthcare from a “strong-buy” rating to an “outperform” rating and set a $195.00 target price for the company. in a report on Friday, November 22nd. JPMorgan Chase & Co. restated an “overweight” rating and issued a $175.00 price target on shares of Tenet Healthcare in a research report on Tuesday, December 17th. StockNews.com lowered Tenet Healthcare from a “buy” rating to a “hold” rating in a research note on Wednesday, March 5th. Finally, The Goldman Sachs Group lowered Tenet Healthcare from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $196.00 to $140.00 in a research report on Monday, December 16th. Four analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $163.88.

Tenet Healthcare Trading Up 1.8 %

THC opened at $127.64 on Monday. The firm’s fifty day simple moving average is $132.66 and its 200 day simple moving average is $145.89. The stock has a market capitalization of $12.14 billion, a P/E ratio of 3.96, a P/E/G ratio of 1.02 and a beta of 2.06. The company has a current ratio of 1.78, a quick ratio of 1.70 and a debt-to-equity ratio of 2.25. Tenet Healthcare Co. has a 12 month low of $90.03 and a 12 month high of $171.20.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $3.44 earnings per share (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%. As a group, research analysts anticipate that Tenet Healthcare Co. will post 12.24 EPS for the current fiscal 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.