Dynamic Technology Lab Private Ltd Sells 27,711 Shares of Tenet Healthcare Co. (NYSE:THC)

Dynamic Technology Lab Private Ltd lowered its position in Tenet Healthcare Co. (NYSE:THC - Free Report) by 88.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,461 shares of the company's stock after selling 27,711 shares during the period. Dynamic Technology Lab Private Ltd's holdings in Tenet Healthcare were worth $575,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in THC. Acadian Asset Management LLC boosted its holdings in Tenet Healthcare by 7,223.1% in the second quarter. Acadian Asset Management LLC now owns 326,244 shares of the company's stock worth $43,385,000 after acquiring an additional 321,789 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Tenet Healthcare by 344.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 317,198 shares of the company's stock worth $52,718,000 after purchasing an additional 245,875 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Tenet Healthcare in the second quarter worth approximately $27,454,000. AQR Capital Management LLC raised its stake in shares of Tenet Healthcare by 35.2% in the second quarter. AQR Capital Management LLC now owns 341,250 shares of the company's stock worth $45,396,000 after purchasing an additional 88,781 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in shares of Tenet Healthcare by 67.1% in the second quarter. Envestnet Asset Management Inc. now owns 209,020 shares of the company's stock worth $27,806,000 after purchasing an additional 83,935 shares during the last quarter. Institutional investors own 95.44% of the company's stock.

Tenet Healthcare Price Performance

NYSE THC traded up $0.70 during trading hours on Friday, hitting $142.68. The company had a trading volume of 490,281 shares, compared to its average volume of 1,229,035. Tenet Healthcare Co. has a 52 week low of $66.64 and a 52 week high of $171.20. The firm has a market capitalization of $13.57 billion, a price-to-earnings ratio of 4.57, a PEG ratio of 0.64 and a beta of 2.15. The company has a debt-to-equity ratio of 2.35, a quick ratio of 1.52 and a current ratio of 1.58. The firm has a 50 day simple moving average of $157.32 and a 200 day simple moving average of $148.36.

Tenet Healthcare (NYSE:THC - Get Free Report) last posted its earnings results on Tuesday, October 29th. The company reported $2.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.33 by $0.60. The business 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 business's revenue for the quarter was up 1.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.44 EPS. Equities research analysts expect that Tenet Healthcare Co. will post 11.38 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Royal Bank of Canada increased their price objective on Tenet Healthcare from $174.00 to $183.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 30th. The Goldman Sachs Group increased their price target on Tenet Healthcare from $173.00 to $196.00 and gave the company a "buy" rating in a research report on Wednesday, October 30th. UBS Group increased their price target on Tenet Healthcare from $197.00 to $217.00 and gave the company a "buy" rating in a research report on Wednesday, October 30th. Wells Fargo & Company downgraded Tenet Healthcare from an "overweight" rating to an "equal weight" rating and decreased their price target for the company from $205.00 to $150.00 in a research report on Monday. Finally, Barclays increased their price target on Tenet Healthcare from $171.00 to $190.00 and gave the company an "overweight" rating in a research report on Friday, November 8th. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $168.19.

Insider Transactions at Tenet Healthcare

In other news, insider R. Scott Ramsey sold 11,599 shares of the firm's stock in a transaction 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 sale, the insider now directly owns 6,324 shares in the company, valued at $1,024,867.44. This trade represents a 64.72 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Lisa Y. Foo sold 4,000 shares of Tenet Healthcare stock in a transaction 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 completion of the sale, the executive vice president now owns 15,566 shares in the company, 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. Company insiders own 0.93% of the company's stock.

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.