Bridgeway Capital Management LLC Sells 16,900 Shares of Tenet Healthcare Co. (NYSE:THC)

Bridgeway Capital Management LLC lessened its holdings in shares of Tenet Healthcare Co. (NYSE:THC) by 51.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 15,700 shares of the company’s stock after selling 16,900 shares during the quarter. Bridgeway Capital Management LLC’s holdings in Tenet Healthcare were worth $1,982,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in THC. GeoWealth Management LLC increased its stake in Tenet Healthcare by 39.8% during the 4th quarter. GeoWealth Management LLC now owns 295 shares of the company’s stock worth $37,000 after purchasing an additional 84 shares in the last quarter. WR Wealth Planners LLC lifted its position in Tenet Healthcare by 2,836.4% in the 4th quarter. WR Wealth Planners LLC now owns 323 shares of the company’s stock valued at $41,000 after acquiring an additional 312 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in 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 purchasing an additional 110 shares during the period. Kestra Investment Management LLC acquired a new stake in shares of Tenet Healthcare in the 4th quarter valued at about $60,000. Finally, Wilmington Savings Fund Society FSB lifted its holdings in shares of Tenet Healthcare by 1,352.8% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 523 shares of the company’s stock valued at $66,000 after purchasing an additional 487 shares in the last quarter. 95.44% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

Analyst Ratings Changes

THC has been the topic of several research reports. Baird R W cut Tenet Healthcare from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 15th. Barclays increased their target price on shares of Tenet Healthcare from $161.00 to $171.00 and gave the stock an “overweight” rating in a report on Wednesday, April 30th. The Goldman Sachs Group boosted their price target on shares of Tenet Healthcare from $134.00 to $154.00 and gave the stock a “neutral” rating in a research report on Monday, May 5th. Cantor Fitzgerald reiterated an “overweight” rating and set a $177.00 target price on shares of Tenet Healthcare in a report on Thursday, February 13th. Finally, Morgan Stanley raised their price target on Tenet Healthcare from $165.00 to $175.00 and gave the company an “overweight” rating in a research note on Monday, May 5th. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $173.69.

Tenet Healthcare Stock Down 0.2 %

Shares of THC opened at $148.80 on Friday. The firm’s 50 day moving average is $129.38 and its 200-day moving average is $136.09. Tenet Healthcare Co. has a 12 month low of $109.82 and a 12 month high of $171.20. The company has a current ratio of 1.78, a quick ratio of 1.70 and a debt-to-equity ratio of 2.25. The stock has a market capitalization of $13.82 billion, a PE ratio of 4.62, a P/E/G ratio of 1.02 and a beta of 1.63.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $4.36 EPS for the quarter, beating analysts’ consensus estimates of $3.11 by $1.25. Tenet Healthcare had a return on equity of 21.88% and a net margin of 15.48%. The business had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $5.15 billion. During the same quarter in the previous year, the firm earned $3.22 earnings per share. Tenet Healthcare’s revenue for the quarter was down 2.5% compared to the same quarter last year. Equities research analysts forecast that Tenet Healthcare Co. will post 12.24 EPS for the current year.

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.