Dorsey Wright & Associates Takes $1.60 Million Position in Tenet Healthcare Co. (NYSE:THC)

Dorsey Wright & Associates acquired a new stake in Tenet Healthcare Co. (NYSE:THC - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 9,640 shares of the company's stock, valued at approximately $1,602,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Zacks Investment Management lifted its stake in Tenet Healthcare by 10.9% during the third quarter. Zacks Investment Management now owns 20,127 shares of the company's stock worth $3,345,000 after purchasing an additional 1,980 shares during the last quarter. EP Wealth Advisors LLC acquired a new position in shares of Tenet Healthcare in the third quarter valued at approximately $231,000. Worldquant Millennium Advisors LLC acquired a new position in shares of Tenet Healthcare in the third quarter valued at approximately $1,821,000. Weiss Asset Management LP increased its holdings in shares of Tenet Healthcare by 8.7% in the third quarter. Weiss Asset Management LP now owns 52,361 shares of the company's stock valued at $8,702,000 after purchasing an additional 4,207 shares during the period. Finally, SYM FINANCIAL Corp acquired a new position in shares of Tenet Healthcare in the third quarter valued at approximately $209,000. Hedge funds and other institutional investors own 95.44% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on THC. Wells Fargo & Company lowered Tenet Healthcare from an "overweight" rating to an "equal weight" rating and dropped their target price for the company from $205.00 to $150.00 in a report on Monday, November 25th. UBS Group upped their price objective on Tenet Healthcare from $197.00 to $217.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. Royal Bank of Canada upped their price objective on Tenet Healthcare from $174.00 to $183.00 and gave the stock an "outperform" rating in a report on Wednesday, October 30th. KeyCorp started coverage on Tenet Healthcare in a report on Friday, October 11th. They set an "overweight" rating and a $200.00 price objective on the stock. Finally, 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 report on Friday, November 22nd. Two investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $168.19.

Tenet Healthcare Price Performance

Shares of NYSE:THC traded up $0.04 on Friday, hitting $138.94. The company had a trading volume of 1,108,316 shares, compared to its average volume of 1,238,652. The company has a current ratio of 1.58, a quick ratio of 1.52 and a debt-to-equity ratio of 2.35. Tenet Healthcare Co. has a 52-week low of $67.78 and a 52-week high of $171.20. The business has a 50 day moving average of $154.32 and a 200 day moving average of $148.98. The company has a market cap of $13.21 billion, a PE ratio of 4.45, a PEG ratio of 0.63 and a beta of 2.06.

Tenet Healthcare (NYSE:THC - Get Free Report) last released its earnings results on Tuesday, October 29th. The company reported $2.93 earnings per share 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 for the quarter, compared to the consensus estimate of $5.05 billion. During the same period in the prior year, the business posted $1.44 earnings per share. The firm's revenue for the quarter was up 1.1% compared to the same quarter last year. As a group, equities analysts anticipate that Tenet Healthcare Co. will post 11.38 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Tenet Healthcare 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 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. This represents a 20.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.93% of the stock is currently owned by company insiders.

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.