B. Riley Wealth Advisors Inc. Grows Stock Holdings in Tenet Healthcare Co. (NYSE:THC)

B. Riley Wealth Advisors Inc. increased its holdings in shares of Tenet Healthcare Co. (NYSE:THC - Free Report) by 101.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,894 shares of the company's stock after buying an additional 3,973 shares during the quarter. B. Riley Wealth Advisors Inc.'s holdings in Tenet Healthcare were worth $1,281,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Innealta Capital LLC purchased a new position in shares of Tenet Healthcare in the 2nd quarter valued at approximately $28,000. Plato Investment Management Ltd acquired a new stake in shares of Tenet Healthcare during the third quarter worth $28,000. ORG Wealth Partners LLC purchased a new position in Tenet Healthcare in the 3rd quarter worth $30,000. Blue Trust Inc. lifted its position in Tenet Healthcare by 93.0% during the 2nd quarter. Blue Trust Inc. now owns 249 shares of the company's stock worth $33,000 after acquiring an additional 120 shares during the period. Finally, Kayne Anderson Rudnick Investment Management LLC acquired a new position in shares of Tenet Healthcare in the second quarter valued at about $34,000. 95.44% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on THC shares. JPMorgan Chase & Co. reiterated an "overweight" rating and issued a $175.00 price target on shares of Tenet Healthcare in a report on Tuesday. Truist Financial reissued a "buy" rating and set a $190.00 target price (up previously from $180.00) on shares of Tenet Healthcare in a report on Wednesday, October 30th. Raymond James downgraded shares of Tenet Healthcare from a "strong-buy" rating to an "outperform" rating and set a $195.00 price target on the stock. in a report on Friday, November 22nd. The Goldman Sachs Group cut shares of Tenet Healthcare from a "buy" rating to a "neutral" rating and dropped their price target for the company from $196.00 to $140.00 in a research note on Monday. Finally, UBS Group raised their target price on Tenet Healthcare from $197.00 to $217.00 and gave the company a "buy" rating in a research report on Wednesday, October 30th. Three research analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, Tenet Healthcare currently has an average rating of "Buy" and a consensus price target of $166.88.

Insider Buying and Selling 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 stock was sold at an average price of $155.94, for a total value of $623,760.00. Following the transaction, the executive vice president now directly owns 15,566 shares in the company, valued at approximately $2,427,362.04. This trade represents a 20.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.93% of the stock is currently owned by insiders.

Tenet Healthcare Trading Down 0.9 %

Tenet Healthcare stock traded down $1.22 during midday trading on Tuesday, reaching $132.55. 1,315,115 shares of the stock traded hands, compared to its average volume of 1,226,815. The firm has a market cap of $12.61 billion, a PE ratio of 4.25, a price-to-earnings-growth ratio of 0.63 and a beta of 2.06. Tenet Healthcare Co. has a 12-month low of $73.21 and a 12-month high of $171.20. The company has a current ratio of 1.58, a quick ratio of 1.52 and a debt-to-equity ratio of 2.35. The company has a 50-day simple moving average of $151.34 and a two-hundred day simple moving average of $149.37.

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

About Tenet Healthcare

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.