Gabelli Funds LLC trimmed its position in Tenet Healthcare Corp (NYSE:THC) by 47.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 45,000 shares of the company’s stock after selling 41,396 shares during the period. Gabelli Funds LLC’s holdings in Tenet Healthcare were worth $682,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Tenet Healthcare by 6.2% during the 2nd quarter. Vanguard Group Inc. now owns 6,995,269 shares of the company’s stock worth $135,289,000 after purchasing an additional 407,910 shares during the last quarter. State Street Corp boosted its holdings in shares of Tenet Healthcare by 25.4% during the 2nd quarter. State Street Corp now owns 2,926,533 shares of the company’s stock worth $56,603,000 after purchasing an additional 593,520 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Tenet Healthcare by 18.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,530,802 shares of the company’s stock worth $41,579,000 after purchasing an additional 389,144 shares during the last quarter. State of New Jersey Common Pension Fund D boosted its holdings in shares of Tenet Healthcare by 10.7% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 2,062,500 shares of the company’s stock worth $33,887,000 after purchasing an additional 200,000 shares during the last quarter. Finally, Davidson Kempner Capital Management LP boosted its holdings in shares of Tenet Healthcare by 84.9% during the 3rd quarter. Davidson Kempner Capital Management LP now owns 1,924,600 shares of the company’s stock worth $31,621,000 after purchasing an additional 883,600 shares during the last quarter.
Several brokerages have recently weighed in on THC. Wells Fargo & Co began coverage on Tenet Healthcare in a report on Tuesday, January 30th. They set a “market perform” rating and a $20.00 target price on the stock. Zacks Investment Research cut Tenet Healthcare from a “hold” rating to a “sell” rating in a report on Saturday, January 20th. Goldman Sachs Group began coverage on Tenet Healthcare in a report on Wednesday, January 3rd. They set a “neutral” rating and a $15.00 target price on the stock. ValuEngine cut Tenet Healthcare from a “hold” rating to a “sell” rating in a report on Sunday, December 31st. Finally, Leerink Swann restated a “buy” rating and set a $27.00 target price on shares of Tenet Healthcare in a report on Wednesday, December 20th. Five investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $18.36.
In other Tenet Healthcare news, Director George Fredrick Smitherman acquired 125,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 25th. The shares were purchased at an average cost of $38.50 per share, for a total transaction of $4,812,500.00. Insiders sold 54,600 shares of company stock worth $94,146 over the last quarter. 3.10% of the stock is currently owned by insiders.
About Tenet Healthcare
Tenet Healthcare Corporation (Tenet) is a healthcare services company. The Company operates regionally focused, integrated healthcare delivery networks in large urban and suburban markets in the United States. The Company’s segments include Hospital Operations and Other, Ambulatory Care and Conifer. As of December 31, 2016, its subsidiaries operated 79 hospitals, including three academic medical centers, two children’s hospitals, two specialty hospitals and one critical access hospital.
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