Loomis Sayles & Co. L P Sells 119,157 Shares of Tenet Healthcare Co. (NYSE:THC)

Loomis Sayles & Co. L P decreased its stake in shares of Tenet Healthcare Co. (NYSE:THC) by 44.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 151,143 shares of the company’s stock after selling 119,157 shares during the quarter. Loomis Sayles & Co. L P owned about 0.16% of Tenet Healthcare worth $19,079,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Coldstream Capital Management Inc. raised its position in Tenet Healthcare by 2.2% during the third quarter. Coldstream Capital Management Inc. now owns 3,406 shares of the company’s stock worth $566,000 after acquiring an additional 74 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in Tenet Healthcare by 9.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 940 shares of the company’s stock valued at $119,000 after purchasing an additional 80 shares during the last quarter. Spire Wealth Management grew its holdings in Tenet Healthcare by 19.5% during the fourth quarter. Spire Wealth Management now owns 558 shares of the company’s stock worth $70,000 after purchasing an additional 91 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in Tenet Healthcare by 1.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 8,109 shares of the company’s stock valued at $1,024,000 after buying an additional 100 shares during the period. Finally, Smartleaf Asset Management LLC lifted its position in shares of 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 buying an additional 110 shares during the last quarter. Institutional investors and hedge funds own 95.44% of the company’s stock.

Tenet Healthcare Stock Performance

Shares of NYSE:THC opened at $133.17 on Friday. The company’s 50 day simple moving average is $132.43 and its 200 day simple moving average is $142.50. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.78 and a quick ratio of 1.70. Tenet Healthcare Co. has a 1 year low of $90.03 and a 1 year high of $171.20. The stock has a market capitalization of $12.67 billion, a price-to-earnings ratio of 4.13, a price-to-earnings-growth ratio of 1.02 and a beta of 2.06.

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

Insider Activity at Tenet Healthcare

In other Tenet Healthcare news, Director J Robert Kerrey sold 9,525 shares of the firm’s stock in a transaction that occurred on 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 sale, the director now owns 27,378 shares in the company, valued at $3,434,022.54. This trade represents a 25.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.93% of the stock is currently owned by insiders.

Analyst Ratings Changes

THC has been the subject of several research reports. Truist Financial cut their price target on Tenet Healthcare from $190.00 to $175.00 and set a “buy” rating for the company in a report on Monday, January 6th. StockNews.com raised shares of Tenet Healthcare from a “hold” rating to a “buy” rating in a report on Thursday, March 13th. JPMorgan Chase & Co. restated an “overweight” rating and set a $175.00 price objective on shares of Tenet Healthcare in a research report on Tuesday, December 17th. The Goldman Sachs Group downgraded Tenet Healthcare from a “buy” rating to a “neutral” rating and decreased their target price for the company from $196.00 to $140.00 in a research report on Monday, December 16th. Finally, KeyCorp reduced their price target on Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Three equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $166.41.

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.