Loomis Sayles & Co. L P Has $19.08 Million Position in Tenet Healthcare Co. (NYSE:THC)

Loomis Sayles & Co. L P trimmed its holdings in shares of Tenet Healthcare Co. (NYSE:THC) by 44.1% during the fourth quarter, HoldingsChannel reports. The fund owned 151,143 shares of the company’s stock after selling 119,157 shares during the quarter. Loomis Sayles & Co. L P’s holdings in Tenet Healthcare were worth $19,079,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the business. True Wealth Design LLC bought a new position in Tenet Healthcare during the 3rd quarter worth $38,000. WR Wealth Planners LLC lifted its stake in shares of Tenet Healthcare by 2,836.4% in the fourth quarter. WR Wealth Planners LLC now owns 323 shares of the company’s stock worth $41,000 after acquiring an additional 312 shares during the period. Smartleaf Asset Management LLC boosted its holdings in Tenet Healthcare by 30.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 471 shares of the company’s stock valued at $59,000 after acquiring an additional 110 shares during the last quarter. Kestra Investment Management LLC bought a new position in Tenet Healthcare during the 4th quarter worth approximately $60,000. Finally, Hantz Financial Services Inc. acquired a new position in shares of Tenet Healthcare in the 3rd quarter worth approximately $83,000. Institutional investors own 95.44% of the company’s stock.

Tenet Healthcare Price Performance

THC stock opened at $133.17 on Friday. 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 business has a 50-day simple moving average of $132.43 and a two-hundred day simple moving average of $142.50. The company has a market capitalization of $12.67 billion, a P/E ratio of 4.13, a price-to-earnings-growth ratio of 1.02 and a beta of 2.06. Tenet Healthcare Co. has a 52-week low of $90.03 and a 52-week high of $171.20.

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

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on THC shares. JPMorgan Chase & Co. reissued an “overweight” rating and set a $175.00 target price on shares of Tenet Healthcare in a research note on Tuesday, December 17th. Barclays cut their target price on Tenet Healthcare from $190.00 to $161.00 and set an “overweight” rating on the stock in a research report on Thursday, February 13th. TD Cowen assumed coverage on Tenet Healthcare in a report on Wednesday, February 26th. They issued a “buy” rating and a $175.00 target price for the company. StockNews.com raised shares of Tenet Healthcare from a “hold” rating to a “buy” rating in a research report on Thursday, March 13th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $177.00 target price on shares of Tenet Healthcare in a research note on Thursday, February 13th. Three investment 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’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $166.41.

Insider Activity at Tenet Healthcare

In other Tenet Healthcare news, Director J Robert Kerrey sold 9,525 shares of the stock in a transaction dated 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 completion of the sale, the director now owns 27,378 shares in the company, valued at approximately $3,434,022.54. This trade represents a 25.81 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.93% of the stock is owned by insiders.

Tenet Healthcare 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.