Hennessy Advisors Inc. Sells 3,200 Shares of Tenet Healthcare Corp (NYSE:THC)

Hennessy Advisors Inc. reduced its position in Tenet Healthcare Corp (NYSE:THC) by 3.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 90,100 shares of the company’s stock after selling 3,200 shares during the quarter. Hennessy Advisors Inc. owned approximately 0.09% of Tenet Healthcare worth $3,427,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of THC. BlackRock Inc. lifted its holdings in shares of Tenet Healthcare by 9.8% during the second quarter. BlackRock Inc. now owns 11,069,966 shares of the company’s stock valued at $228,706,000 after acquiring an additional 988,993 shares during the period. State Street Corp lifted its holdings in shares of Tenet Healthcare by 6.1% during the third quarter. State Street Corp now owns 3,415,339 shares of the company’s stock valued at $75,547,000 after acquiring an additional 195,206 shares during the period. Camber Capital Management LP lifted its holdings in shares of Tenet Healthcare by 42.9% during the second quarter. Camber Capital Management LP now owns 2,500,000 shares of the company’s stock valued at $51,650,000 after acquiring an additional 750,000 shares during the period. Letko Brosseau & Associates Inc. lifted its holdings in shares of Tenet Healthcare by 18.8% during the third quarter. Letko Brosseau & Associates Inc. now owns 2,476,785 shares of the company’s stock valued at $54,786,000 after acquiring an additional 391,475 shares during the period. Finally, FMR LLC lifted its holdings in shares of Tenet Healthcare by 13.7% during the first quarter. FMR LLC now owns 1,785,117 shares of the company’s stock valued at $51,483,000 after acquiring an additional 215,600 shares during the period.

Tenet Healthcare stock opened at $36.59 on Wednesday. The stock has a 50-day simple moving average of $36.50 and a 200 day simple moving average of $26.38. The company has a quick ratio of 1.14, a current ratio of 1.22 and a debt-to-equity ratio of 30.38. Tenet Healthcare Corp has a 12-month low of $17.18 and a 12-month high of $39.37. The stock has a market capitalization of $3.76 billion, a price-to-earnings ratio of 19.67, a P/E/G ratio of 0.69 and a beta of 1.84.

Tenet Healthcare (NYSE:THC) last released its quarterly earnings results on Monday, November 4th. The company reported $0.58 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.30. Tenet Healthcare had a positive return on equity of 35.68% and a negative net margin of 1.31%. The business had revenue of $4.57 billion during the quarter, compared to analysts’ expectations of $4.46 billion. During the same period in the previous year, the business posted $0.29 earnings per share. The firm’s revenue for the quarter was up 1.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Tenet Healthcare Corp will post 2.66 EPS for the current year.

In related news, EVP Audrey T. Andrews sold 65,360 shares of Tenet Healthcare stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $30.59, for a total value of $1,999,362.40. Following the completion of the transaction, the executive vice president now directly owns 56,602 shares of the company’s stock, valued at $1,731,455.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.50% of the company’s stock.

THC has been the subject of a number of analyst reports. UBS Group raised Tenet Healthcare from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $24.00 to $53.00 in a report on Monday, December 9th. ValuEngine cut Tenet Healthcare from a “sell” rating to a “strong sell” rating in a report on Tuesday, November 5th. Zacks Investment Research cut Tenet Healthcare from a “buy” rating to a “hold” rating and set a $37.00 price objective for the company. in a report on Monday, December 9th. SunTrust Banks lifted their price objective on Tenet Healthcare from $31.00 to $42.00 and gave the company a “hold” rating in a report on Wednesday, December 18th. Finally, JPMorgan Chase & Co. lifted their price objective on Tenet Healthcare from $23.00 to $31.00 and gave the company an “underweight” rating in a report on Friday, December 20th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $34.15.

About Tenet Healthcare

Tenet Healthcare Corporation operates as a diversified healthcare services company. The company operates in three segments: Hospital Operations and Other, Ambulatory Care, and Conifer. Its general hospitals offer acute care services, operating and recovery rooms, radiology and respiratory therapy services, clinical laboratories, and pharmacies.

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Institutional Ownership by Quarter for Tenet Healthcare (NYSE:THC)

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