Principal Financial Group Inc. Has $29.99 Million Stock Position in Tenet Healthcare Co. (NYSE:THC)

Principal Financial Group Inc. decreased its stake in shares of Tenet Healthcare Co. (NYSE:THCGet Rating) by 1.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 367,109 shares of the company’s stock after selling 5,199 shares during the quarter. Principal Financial Group Inc. owned about 0.34% of Tenet Healthcare worth $29,989,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Invesco Ltd. increased its position in shares of Tenet Healthcare by 78.1% during the 3rd quarter. Invesco Ltd. now owns 4,624,002 shares of the company’s stock worth $307,219,000 after purchasing an additional 2,027,131 shares during the last quarter. Viking Global Investors LP increased its holdings in shares of Tenet Healthcare by 47.2% during the 3rd quarter. Viking Global Investors LP now owns 3,353,856 shares of the company’s stock worth $222,830,000 after acquiring an additional 1,074,674 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Tenet Healthcare by 0.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,337,562 shares of the company’s stock worth $155,317,000 after acquiring an additional 20,670 shares during the last quarter. Centerbridge Partners L.P. increased its holdings in shares of Tenet Healthcare by 3.6% during the 3rd quarter. Centerbridge Partners L.P. now owns 2,222,931 shares of the company’s stock worth $147,692,000 after acquiring an additional 77,284 shares during the last quarter. Finally, FMR LLC increased its holdings in shares of Tenet Healthcare by 13.7% during the 1st quarter. FMR LLC now owns 1,785,117 shares of the company’s stock worth $51,483,000 after acquiring an additional 215,600 shares during the last quarter. 95.41% of the stock is currently owned by hedge funds and other institutional investors.

In other Tenet Healthcare news, Director Richard J. Mark sold 6,000 shares of the company’s stock in a transaction dated Wednesday, March 9th. The stock was sold at an average price of $90.47, for a total value of $542,820.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Ronald A. Rittenmeyer sold 59,851 shares of the company’s stock in a transaction dated Wednesday, March 2nd. The stock was sold at an average price of $90.12, for a total value of $5,393,772.12. The disclosure for this sale can be found here. 1.70% of the stock is owned by corporate insiders.

NYSE:THC opened at $72.29 on Friday. The stock has a fifty day moving average price of $82.19 and a 200-day moving average price of $79.56. The company has a market cap of $7.79 billion, a price-to-earnings ratio of 8.21, a PEG ratio of 2.55 and a beta of 2.39. The company has a debt-to-equity ratio of 7.16, a quick ratio of 1.23 and a current ratio of 1.31. Tenet Healthcare Co. has a fifty-two week low of $59.74 and a fifty-two week high of $92.65.

Tenet Healthcare (NYSE:THCGet Rating) last announced its quarterly earnings data on Wednesday, April 20th. The company reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.89. Tenet Healthcare had a return on equity of 51.84% and a net margin of 4.92%. The business had revenue of $4.75 billion during the quarter, compared to the consensus estimate of $4.74 billion. During the same period in the prior year, the company earned $1.30 EPS. Tenet Healthcare’s revenue for the quarter was down .8% on a year-over-year basis. Research analysts predict that Tenet Healthcare Co. will post 6.68 EPS for the current fiscal year.

THC has been the topic of a number of recent analyst reports. Wells Fargo & Company decreased their target price on Tenet Healthcare from $100.00 to $90.00 and set an “overweight” rating on the stock in a report on Monday, April 25th. Royal Bank of Canada boosted their price target on Tenet Healthcare from $89.00 to $104.00 and gave the company an “outperform” rating in a research note on Friday, April 22nd. UBS Group upgraded Tenet Healthcare from a “neutral” rating to a “buy” rating and boosted their price target for the company from $83.00 to $111.00 in a research note on Thursday, February 10th. The Goldman Sachs Group restated a “buy” rating on shares of Tenet Healthcare in a research note on Tuesday, March 1st. Finally, SVB Leerink boosted their price target on Tenet Healthcare from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Friday, April 22nd. Two equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Tenet Healthcare has an average rating of “Buy” and an average target price of $102.80.

About Tenet Healthcare (Get Rating)

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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