Worldquant Millennium Advisors LLC Invests $1.82 Million in Tenet Healthcare Co. (NYSE:THC)

Worldquant Millennium Advisors LLC purchased a new stake in Tenet Healthcare Co. (NYSE:THC - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 10,954 shares of the company's stock, valued at approximately $1,821,000.

Several other large investors also recently modified their holdings of THC. Cetera Investment Advisers acquired a new stake in shares of Tenet Healthcare during the first quarter worth $1,772,000. Cetera Advisors LLC acquired a new stake in Tenet Healthcare in the first quarter worth $227,000. CWM LLC grew its holdings in Tenet Healthcare by 49.7% in the second quarter. CWM LLC now owns 2,255 shares of the company's stock worth $300,000 after purchasing an additional 749 shares during the period. QRG Capital Management Inc. grew its holdings in Tenet Healthcare by 198.8% in the second quarter. QRG Capital Management Inc. now owns 7,856 shares of the company's stock worth $1,045,000 after purchasing an additional 5,227 shares during the period. Finally, SG Americas Securities LLC grew its holdings in Tenet Healthcare by 506.0% in the second quarter. SG Americas Securities LLC now owns 37,610 shares of the company's stock worth $5,003,000 after purchasing an additional 31,404 shares during the period. 95.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Tenet Healthcare

In other Tenet Healthcare news, EVP Lisa Y. Foo sold 4,000 shares of Tenet Healthcare stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $155.94, for a total transaction of $623,760.00. Following the completion of the sale, the executive vice president now directly owns 15,566 shares in the company, valued at $2,427,362.04. The trade was a 20.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.93% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have commented on THC. The Goldman Sachs Group raised their price target on shares of Tenet Healthcare from $173.00 to $196.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. Cantor Fitzgerald raised their price objective on shares of Tenet Healthcare from $168.00 to $177.00 and gave the company an "overweight" rating in a research note on Wednesday, October 30th. KeyCorp began coverage on shares of Tenet Healthcare in a research note on Friday, October 11th. They issued an "overweight" rating and a $200.00 price objective on the stock. UBS Group raised their price objective on shares of Tenet Healthcare from $197.00 to $217.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. Finally, Royal Bank of Canada raised their price objective on shares of Tenet Healthcare from $174.00 to $183.00 and gave the company an "outperform" rating in a research note on Wednesday, October 30th. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $168.19.

Tenet Healthcare Stock Performance

THC stock traded up $2.07 during mid-day trading on Monday, hitting $141.01. The company had a trading volume of 1,183,118 shares, compared to its average volume of 1,222,680. The firm has a market cap of $13.41 billion, a PE ratio of 4.45, a price-to-earnings-growth ratio of 0.62 and a beta of 2.06. The company has a debt-to-equity ratio of 2.35, a quick ratio of 1.52 and a current ratio of 1.58. The stock's fifty day moving average price is $154.32 and its two-hundred day moving average price is $149.11. Tenet Healthcare Co. has a 12 month low of $70.76 and a 12 month high of $171.20.

Tenet Healthcare (NYSE:THC - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $2.93 EPS for the quarter, beating the consensus estimate of $2.33 by $0.60. The company had revenue of $5.12 billion during the quarter, compared to analysts' expectations of $5.05 billion. Tenet Healthcare had a net margin of 14.91% and a return on equity of 24.05%. Tenet Healthcare's revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.44 earnings per share. On average, analysts forecast that Tenet Healthcare Co. will post 11.38 earnings per share for the current fiscal year.

Tenet Healthcare Profile

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.