Cerity Partners LLC Purchases 12,480 Shares of Tenet Healthcare Co. (NYSE:THC)

Cerity Partners LLC increased its stake in shares of Tenet Healthcare Co. (NYSE:THC - Free Report) by 67.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 31,056 shares of the company's stock after buying an additional 12,480 shares during the quarter. Cerity Partners LLC's holdings in Tenet Healthcare were worth $5,162,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in THC. Innealta Capital LLC acquired a new stake in shares of Tenet Healthcare during the second quarter valued at about $28,000. Plato Investment Management Ltd acquired a new position in Tenet Healthcare during the 3rd quarter worth approximately $28,000. ORG Wealth Partners LLC acquired a new stake in shares of Tenet Healthcare in the third quarter valued at about $30,000. ORG Partners LLC acquired a new position in Tenet Healthcare during the second quarter worth $31,000. Finally, Blue Trust Inc. lifted its holdings in shares of Tenet Healthcare by 93.0% in 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 in the last quarter. 95.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Tenet Healthcare

In other Tenet Healthcare news, insider R. Scott Ramsey sold 11,599 shares of Tenet Healthcare stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $162.06, for a total transaction of $1,879,733.94. Following the transaction, the insider now owns 6,324 shares of the company's stock, valued at $1,024,867.44. The trade was a 64.72 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Lisa Y. Foo sold 4,000 shares of the firm's stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $155.94, for a total transaction of $623,760.00. Following the sale, the executive vice president now owns 15,566 shares of the company's stock, valued at approximately $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. 0.93% of the stock is owned by corporate insiders.

Tenet Healthcare Price Performance

THC stock traded up $0.70 during trading on Friday, hitting $142.68. The company had a trading volume of 490,281 shares, compared to its average volume of 1,229,035. The firm has a market capitalization of $13.57 billion, a price-to-earnings ratio of 4.57, a P/E/G ratio of 0.64 and a beta of 2.15. 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 business has a 50 day moving average of $157.32 and a 200 day moving average of $148.36. Tenet Healthcare Co. has a fifty-two week low of $66.64 and a fifty-two week high of $171.20.

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

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Raymond James lowered 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. Barclays boosted their price objective on Tenet Healthcare from $171.00 to $190.00 and gave the stock an "overweight" rating in a research note on Friday, November 8th. Wells Fargo & Company lowered Tenet Healthcare from an "overweight" rating to an "equal weight" rating and lowered their target price for the company from $205.00 to $150.00 in a research note on Monday. Cantor Fitzgerald upped their price target on Tenet Healthcare from $168.00 to $177.00 and gave the stock an "overweight" rating in a report on Wednesday, October 30th. Finally, KeyCorp started coverage on shares of Tenet Healthcare in a research report on Friday, October 11th. They set an "overweight" rating and a $200.00 target price on the stock. Two analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $168.19.

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.