Centiva Capital LP Reduces Stock Position in Tenet Healthcare Co. (NYSE:THC)

Centiva Capital LP lowered its position in shares of Tenet Healthcare Co. (NYSE:THC - Free Report) by 61.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 10,437 shares of the company's stock after selling 16,622 shares during the period. Centiva Capital LP's holdings in Tenet Healthcare were worth $1,735,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of THC. Innealta Capital LLC acquired a new stake in Tenet Healthcare in the 2nd quarter valued at about $28,000. Plato Investment Management Ltd purchased a new stake in Tenet Healthcare during the third quarter valued at about $28,000. ORG Wealth Partners LLC purchased a new position in Tenet Healthcare during the third quarter valued at approximately $30,000. ORG Partners LLC purchased a new stake in shares of Tenet Healthcare during the second quarter worth $31,000. Finally, Blue Trust Inc. boosted its position in Tenet Healthcare by 93.0% during the second quarter. Blue Trust Inc. now owns 249 shares of the company's stock valued at $33,000 after purchasing an additional 120 shares during the last quarter. Institutional investors and hedge funds own 95.44% of the company's stock.

Insider Activity

In other news, insider R. Scott Ramsey sold 11,599 shares of the 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 completion of the transaction, the insider now directly owns 6,324 shares of the company's stock, valued at $1,024,867.44. This represents a 64.72 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Lisa Y. Foo sold 4,000 shares of the 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 transaction, the executive vice president now directly owns 15,566 shares of the company's stock, valued at $2,427,362.04. This represents a 20.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.93% of the company's stock.

Analysts Set New Price Targets

THC has been the subject of a number of analyst reports. Wells Fargo & Company cut Tenet Healthcare from an "overweight" rating to an "equal weight" rating and reduced their price target for the stock from $205.00 to $150.00 in a research report on Monday, November 25th. Barclays boosted their price objective on Tenet Healthcare from $171.00 to $190.00 and gave the stock an "overweight" rating in a research report on Friday, November 8th. Royal Bank of Canada boosted their price target on Tenet Healthcare from $174.00 to $183.00 and gave the company an "outperform" rating in a research note on Wednesday, October 30th. Raymond James lowered Tenet Healthcare from a "strong-buy" rating to an "outperform" rating and set a $195.00 price objective on the stock. in a research note on Friday, November 22nd. Finally, UBS Group boosted their target price on Tenet Healthcare from $197.00 to $217.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $168.19.

Tenet Healthcare Price Performance

NYSE:THC traded up $0.24 during mid-day trading on Wednesday, reaching $141.51. The stock had a trading volume of 641,327 shares, compared to its average volume of 1,224,805. The stock has a 50-day simple moving average of $155.85 and a two-hundred day simple moving average of $148.92. The stock has a market capitalization of $13.46 billion, a PE ratio of 4.53, a P/E/G ratio of 0.64 and a beta of 2.06. Tenet Healthcare Co. has a 12 month low of $67.78 and a 12 month 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.

Tenet Healthcare (NYSE:THC - Get Free Report) last posted its earnings results on Tuesday, October 29th. The company reported $2.93 earnings per share for the quarter, topping analysts' consensus estimates of $2.33 by $0.60. The firm had revenue of $5.12 billion for 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%. The company's revenue was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.44 earnings per share. On average, equities analysts anticipate that Tenet Healthcare Co. will post 11.38 earnings per share for the current 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.