BNP Paribas Financial Markets Has $15.04 Million Stock Holdings in Tenet Healthcare Co. (NYSE:THC)

BNP Paribas Financial Markets lessened its stake in shares of Tenet Healthcare Co. (NYSE:THC - Free Report) by 67.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 90,499 shares of the company's stock after selling 189,733 shares during the quarter. BNP Paribas Financial Markets owned about 0.10% of Tenet Healthcare worth $15,041,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in THC. Optas LLC boosted its position in shares of Tenet Healthcare by 3.4% in the third quarter. Optas LLC now owns 2,821 shares of the company's stock worth $469,000 after purchasing an additional 93 shares during the period. Signaturefd LLC grew its holdings in Tenet Healthcare by 17.6% during the 3rd quarter. Signaturefd LLC now owns 628 shares of the company's stock worth $104,000 after acquiring an additional 94 shares in the last quarter. CIBC Asset Management Inc boosted its holdings in shares of Tenet Healthcare by 3.4% in the 3rd quarter. CIBC Asset Management Inc now owns 2,887 shares of the company's stock valued at $480,000 after buying an additional 94 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Tenet Healthcare by 20.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 560 shares of the company's stock valued at $74,000 after purchasing an additional 96 shares during the last quarter. Finally, First Citizens Bank & Trust Co. raised its position in Tenet Healthcare by 5.1% during the 3rd quarter. First Citizens Bank & Trust Co. now owns 2,226 shares of the company's stock worth $370,000 after buying an additional 109 shares during the last quarter. Hedge funds and other institutional investors own 95.44% of the company's stock.

Insider Activity at Tenet Healthcare

In other news, EVP Lisa Y. Foo sold 4,000 shares of the company's stock in a transaction dated 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 owns 15,566 shares in the company, valued at $2,427,362.04. This represents a 20.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider R. Scott Ramsey sold 11,599 shares of the firm's stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $162.06, for a total transaction of $1,879,733.94. Following the transaction, the insider now directly owns 6,324 shares in the company, valued at approximately $1,024,867.44. The trade was a 64.72 % decrease in their position. The disclosure for this sale can be found here. 0.93% of the stock is currently owned by insiders.

Tenet Healthcare Trading Up 0.5 %

THC stock traded up $0.70 during midday trading on Friday, reaching $142.68. 490,282 shares of the company's stock traded hands, compared to its average volume of 1,413,630. The business has a 50-day moving average price of $156.87 and a two-hundred day moving average price of $148.62. Tenet Healthcare Co. has a fifty-two week low of $66.64 and a fifty-two week high of $171.20. The company has a debt-to-equity ratio of 2.35, a current ratio of 1.58 and a quick ratio of 1.52. The company has a market capitalization of $13.57 billion, a P/E ratio of 4.57, a PEG ratio of 0.64 and a beta of 2.15.

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

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Cantor Fitzgerald lifted their target price on shares of Tenet Healthcare from $168.00 to $177.00 and gave the company an "overweight" rating in a report on Wednesday, October 30th. KeyCorp began coverage on shares of Tenet Healthcare in a report on Friday, October 11th. They issued an "overweight" rating and a $200.00 price objective on the stock. Truist Financial reissued a "buy" rating and issued a $190.00 price objective (up from $180.00) on shares of Tenet Healthcare in a research report on Wednesday, October 30th. Barclays raised their price objective on shares of Tenet Healthcare from $171.00 to $190.00 and gave the stock an "overweight" rating in a research report on Friday, November 8th. Finally, Royal Bank of Canada raised their target price on shares of Tenet Healthcare from $174.00 to $183.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 30th. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $168.19.

Tenet Healthcare Company 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.