Adage Capital Partners GP L.L.C. Reduces Position in Tenet Healthcare Co. (NYSE:THC)

Adage Capital Partners GP L.L.C. reduced its stake in shares of Tenet Healthcare Co. (NYSE:THC) by 28.1% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 222,215 shares of the company’s stock after selling 86,794 shares during the quarter. Adage Capital Partners GP L.L.C.’s holdings in Tenet Healthcare were worth $28,050,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Geode Capital Management LLC grew its stake in Tenet Healthcare by 3.5% during the 4th quarter. Geode Capital Management LLC now owns 2,116,121 shares of the company’s stock valued at $268,591,000 after purchasing an additional 71,454 shares during the last quarter. Norges Bank purchased a new stake in Tenet Healthcare in the fourth quarter valued at approximately $190,819,000. Dimensional Fund Advisors LP raised its position in Tenet Healthcare by 22.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,493,532 shares of the company’s stock worth $188,524,000 after buying an additional 272,906 shares during the last quarter. Allianz Asset Management GmbH lifted its stake in Tenet Healthcare by 15.1% during the 4th quarter. Allianz Asset Management GmbH now owns 577,143 shares of the company’s stock valued at $72,853,000 after acquiring an additional 75,688 shares during the period. Finally, Wealthfront Advisers LLC acquired a new stake in shares of Tenet Healthcare in the fourth quarter worth $69,059,000. 95.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Guggenheim started coverage on shares of Tenet Healthcare in a report on Wednesday, April 9th. They issued a “buy” rating and a $165.00 price target on the stock. Baird R W cut Tenet Healthcare from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 15th. Robert W. Baird restated a “neutral” rating and issued a $137.00 price objective (down previously from $153.00) on shares of Tenet Healthcare in a research report on Tuesday, April 15th. StockNews.com upgraded shares of Tenet Healthcare from a “hold” rating to a “buy” rating in a research note on Thursday, March 13th. Finally, KeyCorp decreased their price objective 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. Five analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $165.44.

Insider Buying and Selling

In other Tenet Healthcare news, Director J Robert Kerrey sold 9,525 shares of the firm’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $125.43, for a total transaction of $1,194,720.75. Following the completion of the sale, the director now owns 27,378 shares of the company’s stock, valued at $3,434,022.54. This trade represents a 25.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.81% of the stock is owned by company insiders.

Tenet Healthcare Trading Down 1.8 %

Shares of THC stock opened at $121.99 on Friday. Tenet Healthcare Co. has a fifty-two week low of $92.01 and a fifty-two week high of $171.20. The firm has a market capitalization of $11.51 billion, a P/E ratio of 3.78, a PEG ratio of 1.02 and a beta of 1.77. The stock’s fifty day moving average is $126.50 and its two-hundred day moving average is $137.02. 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 released its quarterly earnings data on Wednesday, February 12th. The company reported $3.44 EPS for the quarter, beating analysts’ consensus estimates of $2.95 by $0.49. Tenet Healthcare had a net margin of 15.48% and a return on equity of 21.88%. Research analysts expect that Tenet Healthcare Co. will post 12.24 earnings per share for the current fiscal year.

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.