Charles Schwab Investment Management Inc. Decreases Stake in Tenet Healthcare Co. (NYSE:THC)

Charles Schwab Investment Management Inc. cut its holdings in Tenet Healthcare Co. (NYSE:THC) by 1.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 664,847 shares of the company’s stock after selling 12,950 shares during the period. Charles Schwab Investment Management Inc. owned about 0.70% of Tenet Healthcare worth $83,924,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in THC. Plato Investment Management Ltd purchased a new stake in shares of Tenet Healthcare in the 3rd quarter worth about $28,000. True Wealth Design LLC purchased a new stake in shares of Tenet Healthcare in the 3rd quarter worth about $38,000. WR Wealth Planners LLC boosted its position in shares of Tenet Healthcare by 2,836.4% in the 4th quarter. WR Wealth Planners LLC now owns 323 shares of the company’s stock worth $41,000 after buying an additional 312 shares in the last quarter. Smartleaf Asset Management LLC boosted its position 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 in the last quarter. Finally, Kestra Investment Management LLC purchased a new stake in shares of Tenet Healthcare in the 4th quarter worth about $60,000. 95.44% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

THC has been the topic of a number of recent research reports. StockNews.com lowered shares of Tenet Healthcare from a “buy” rating to a “hold” rating in a report on Wednesday, March 5th. Raymond James lowered shares of Tenet Healthcare from a “strong-buy” rating to an “outperform” rating and set a $195.00 target price on the stock. in a report on Friday, November 22nd. KeyCorp reduced their target price on shares of Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Barclays reduced their target price on shares of Tenet Healthcare from $190.00 to $161.00 and set an “overweight” rating on the stock in a report on Thursday, February 13th. Finally, Wells Fargo & Company lowered shares of Tenet Healthcare from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $205.00 to $150.00 in a report on Monday, November 25th. Four investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $163.88.

Tenet Healthcare Stock Down 1.0 %

THC opened at $126.21 on Tuesday. The firm has a 50 day moving average price of $132.68 and a 200 day moving average price of $145.65. The company has a market cap of $12.01 billion, a PE ratio of 3.92, a price-to-earnings-growth ratio of 1.02 and a beta of 2.06. Tenet Healthcare Co. has a 1 year low of $90.03 and a 1 year high of $171.20. 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 posted its earnings results 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 net margin of 15.48% and a return on equity of 21.88%. Sell-side analysts expect that Tenet Healthcare Co. will post 12.24 earnings per share 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.