Mutual of America Capital Management LLC Sells 4,829 Shares of Tenet Healthcare Corporation $THC

Mutual of America Capital Management LLC cut its holdings in shares of Tenet Healthcare Corporation (NYSE:THC) by 6.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 66,725 shares of the company’s stock after selling 4,829 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Tenet Healthcare were worth $13,548,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in THC. NewEdge Advisors LLC grew its position in shares of Tenet Healthcare by 6.1% during the 1st quarter. NewEdge Advisors LLC now owns 2,890 shares of the company’s stock valued at $389,000 after acquiring an additional 166 shares during the period. Jones Financial Companies Lllp increased its position in Tenet Healthcare by 299.1% in the first quarter. Jones Financial Companies Lllp now owns 1,700 shares of the company’s stock worth $229,000 after buying an additional 1,274 shares during the last quarter. Sivia Capital Partners LLC purchased a new position in shares of Tenet Healthcare during the 2nd quarter valued at $290,000. State of Alaska Department of Revenue increased its holdings in Tenet Healthcare by 60.0% in the 2nd quarter. State of Alaska Department of Revenue now owns 35,424 shares of the company’s stock worth $6,234,000 after acquiring an additional 13,285 shares during the last quarter. Finally, Signaturefd LLC lifted its holdings in Tenet Healthcare by 11.2% during the second quarter. Signaturefd LLC now owns 732 shares of the company’s stock valued at $129,000 after purchasing an additional 74 shares during the last quarter. Hedge funds and other institutional investors own 95.44% of the company’s stock.

Tenet Healthcare Trading Up 0.6%

Shares of Tenet Healthcare stock opened at $189.91 on Tuesday. The company has a 50 day simple moving average of $201.04 and a two-hundred day simple moving average of $191.75. The company has a debt-to-equity ratio of 2.27, a current ratio of 1.71 and a quick ratio of 1.64. The firm has a market cap of $16.69 billion, a PE ratio of 13.02, a PEG ratio of 0.80 and a beta of 1.41. Tenet Healthcare Corporation has a 1 year low of $109.82 and a 1 year high of $222.82.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings data on Tuesday, October 28th. The company reported $3.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.33 by $0.37. Tenet Healthcare had a net margin of 6.49% and a return on equity of 25.11%. The company had revenue of $5.29 billion during the quarter, compared to the consensus estimate of $5.26 billion. During the same period in the previous year, the firm posted $2.93 EPS. The firm’s revenue was up 3.2% compared to the same quarter last year. Analysts expect that Tenet Healthcare Corporation will post 12.24 earnings per share for the current fiscal year.

Insider Transactions at Tenet Healthcare

In related news, Director Nadja West sold 2,178 shares of the business’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $197.47, for a total value of $430,089.66. Following the completion of the sale, the director owned 28,480 shares in the company, valued at $5,623,945.60. The trade was a 7.10% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider R. Scott Ramsey sold 13,322 shares of Tenet Healthcare stock in a transaction that occurred on Thursday, November 6th. The stock was sold at an average price of $205.11, for a total transaction of $2,732,475.42. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 45,500 shares of company stock valued at $9,247,071. 0.81% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on THC shares. Morgan Stanley restated an “overweight” rating and set a $247.00 price target on shares of Tenet Healthcare in a research note on Thursday, December 18th. Weiss Ratings upgraded Tenet Healthcare from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, December 29th. Cantor Fitzgerald raised their target price on Tenet Healthcare from $190.00 to $245.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 29th. JPMorgan Chase & Co. increased their price target on shares of Tenet Healthcare from $200.00 to $230.00 and gave the stock an “overweight” rating in a report on Thursday, November 13th. Finally, KeyCorp upped their target price on shares of Tenet Healthcare from $205.00 to $225.00 and gave the stock an “overweight” rating in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Tenet Healthcare has an average rating of “Moderate Buy” and an average price target of $233.81.

Tenet Healthcare Company Profile

Tenet Healthcare Corporation (NYSE: THC) is a diversified American healthcare services company that owns and operates acute care hospitals and a broad range of outpatient facilities. Its portfolio includes general acute-care hospitals, specialty hospitals, ambulatory surgery centers, urgent care and diagnostic imaging centers, and other ancillary service locations. Tenet’s operations are oriented around delivering inpatient and outpatient clinical care across multiple medical specialties, with an emphasis on surgical services, emergency care, and advanced diagnostics.

In addition to facility-based care, Tenet provides integrated services designed to support clinical operations and improve patient access and care coordination.