Holocene Advisors LP grew its position in Tenet Healthcare Co. (NYSE:THC - Free Report) by 9.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 257,642 shares of the company's stock after purchasing an additional 21,935 shares during the period. Holocene Advisors LP owned approximately 0.27% of Tenet Healthcare worth $42,820,000 at the end of the most recent quarter.
A number of other institutional investors also recently modified their holdings of THC. Cetera Investment Advisers bought a new stake in shares of Tenet Healthcare in the first quarter valued at about $1,772,000. Cetera Advisors LLC bought a new stake in Tenet Healthcare during the first quarter worth about $227,000. GAMMA Investing LLC raised its holdings in Tenet Healthcare by 34.9% during the second quarter. GAMMA Investing LLC now owns 986 shares of the company's stock worth $131,000 after acquiring an additional 255 shares in the last quarter. Park Avenue Securities LLC raised its holdings in Tenet Healthcare by 19.2% during the second quarter. Park Avenue Securities LLC now owns 15,804 shares of the company's stock worth $2,102,000 after acquiring an additional 2,549 shares in the last quarter. Finally, CWM LLC raised its holdings in Tenet Healthcare by 49.7% during the second quarter. CWM LLC now owns 2,255 shares of the company's stock worth $300,000 after acquiring an additional 749 shares in the last quarter. 95.44% of the stock is currently owned by institutional investors.
Insiders Place Their Bets
In other news, EVP Lisa Y. Foo sold 4,000 shares of the firm'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 completion of the sale, the executive vice president now directly owns 15,566 shares in the company, valued at $2,427,362.04. This trade represents a 20.44 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider R. Scott Ramsey sold 11,599 shares of the firm's stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $162.06, for a total value of $1,879,733.94. Following the completion of the sale, the insider now owns 6,324 shares of the company's stock, valued at approximately $1,024,867.44. This represents a 64.72 % 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.
Analyst Ratings Changes
THC has been the topic of several analyst reports. KeyCorp initiated coverage on Tenet Healthcare in a report on Friday, October 11th. They set an "overweight" rating and a $200.00 target price on the stock. Cantor Fitzgerald boosted their price target on Tenet Healthcare from $168.00 to $177.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 30th. Raymond James downgraded Tenet Healthcare from a "strong-buy" rating to an "outperform" rating and set a $195.00 price target on the stock. in a research report on Friday, November 22nd. Royal Bank of Canada upped their target price on Tenet Healthcare from $174.00 to $183.00 and gave the company an "outperform" rating in a research report on Wednesday, October 30th. Finally, The Goldman Sachs Group upped their target price on Tenet Healthcare from $173.00 to $196.00 and gave the company a "buy" rating in a research report on Wednesday, October 30th. Two research 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. According to data from MarketBeat, Tenet Healthcare currently has an average rating of "Buy" and a consensus target price of $168.19.
Get Our Latest Analysis on THC
Tenet Healthcare Price Performance
Shares of THC traded down $0.40 during trading hours on Tuesday, reaching $141.63. The stock had a trading volume of 563,939 shares, compared to its average volume of 1,225,469. Tenet Healthcare Co. has a 12 month low of $67.78 and a 12 month high of $171.20. The stock has a market capitalization of $13.47 billion, a PE ratio of 4.53, a PEG ratio of 0.64 and a beta of 2.06. 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 company's 50-day moving average is $156.35 and its two-hundred day moving average is $148.83.
Tenet Healthcare (NYSE:THC - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $2.93 earnings per share for the quarter, beating analysts' consensus estimates of $2.33 by $0.60. The business had revenue of $5.12 billion during the quarter, compared to the consensus estimate of $5.05 billion. Tenet Healthcare had a return on equity of 24.05% and a net margin of 14.91%. Tenet Healthcare's quarterly revenue was up 1.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.44 earnings per share. Research analysts expect that Tenet Healthcare Co. will post 11.38 EPS for the current year.
About Tenet Healthcare
(
Free Report)
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.
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