Hillsdale Investment Management Inc. Acquires 1,000 Shares of Tenet Healthcare Co. (NYSE:THC)

Hillsdale Investment Management Inc. grew its holdings in Tenet Healthcare Co. (NYSE:THC) by 21.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,600 shares of the company’s stock after purchasing an additional 1,000 shares during the period. Hillsdale Investment Management Inc.’s holdings in Tenet Healthcare were worth $707,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. FMR LLC increased its holdings in Tenet Healthcare by 88.0% during the 3rd quarter. FMR LLC now owns 7,700,693 shares of the company’s stock worth $1,279,855,000 after acquiring an additional 3,604,161 shares during the period. Wealthfront Advisers LLC bought a new stake in Tenet Healthcare during the 4th quarter worth approximately $69,059,000. Geode Capital Management LLC increased its holdings in Tenet Healthcare by 23.6% during the 3rd quarter. Geode Capital Management LLC now owns 2,044,667 shares of the company’s stock worth $339,893,000 after acquiring an additional 390,316 shares during the period. Raymond James Financial Inc. bought a new stake in Tenet Healthcare during the 4th quarter worth approximately $49,001,000. Finally, Iron Triangle Partners LP bought a new stake in Tenet Healthcare during the 3rd quarter worth approximately $51,346,000. Institutional investors own 95.44% of the company’s stock.

Tenet Healthcare Trading Down 2.7 %

Shares of THC opened at $122.87 on Monday. The stock has a market capitalization of $11.69 billion, a P/E ratio of 3.81, a PEG ratio of 1.02 and a beta of 2.06. The company has a quick ratio of 1.70, a current ratio of 1.78 and a debt-to-equity ratio of 2.25. The firm has a fifty day simple moving average of $132.20 and a two-hundred day simple moving average of $143.15. Tenet Healthcare Co. has a twelve month low of $90.03 and a twelve month high of $171.20.

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

Insiders Place Their Bets

In related 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 transaction, the director now directly owns 27,378 shares in the company, valued at $3,434,022.54. This trade represents a 25.81 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.93% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. The Goldman Sachs Group lowered shares of Tenet Healthcare from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $196.00 to $140.00 in a report on Monday, December 16th. StockNews.com raised shares of Tenet Healthcare from a “hold” rating to a “buy” rating in a report on Thursday, March 13th. Wells Fargo & Company lowered shares of Tenet Healthcare from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $205.00 to $150.00 in a report on Monday, November 25th. Cantor Fitzgerald reissued an “overweight” rating and issued a $177.00 price target on shares of Tenet Healthcare in a report on Thursday, February 13th. Finally, Barclays decreased their price target 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. Three analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $163.88.

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.