National Bank of Canada FI Sells 27,217 Shares of Tenet Healthcare Co. (NYSE:THC)

National Bank of Canada FI decreased its holdings in shares of Tenet Healthcare Co. (NYSE:THC - Free Report) by 20.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 104,031 shares of the company's stock after selling 27,217 shares during the period. National Bank of Canada FI owned about 0.11% of Tenet Healthcare worth $17,290,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in THC. EP Wealth Advisors LLC acquired a new stake in Tenet Healthcare in the 3rd quarter valued at $231,000. Worldquant Millennium Advisors LLC acquired a new stake in shares of Tenet Healthcare in the 3rd quarter valued at $1,821,000. Weiss Asset Management LP increased its position in shares of Tenet Healthcare by 8.7% during the 3rd quarter. Weiss Asset Management LP now owns 52,361 shares of the company's stock worth $8,702,000 after purchasing an additional 4,207 shares in the last quarter. SYM FINANCIAL Corp bought a new position in Tenet Healthcare during the 3rd quarter valued at about $209,000. Finally, Quantinno Capital Management LP grew its position in Tenet Healthcare by 40.6% during the 3rd quarter. Quantinno Capital Management LP now owns 40,672 shares of the company's stock worth $6,760,000 after acquiring an additional 11,749 shares during the last quarter. 95.44% of the stock is owned by institutional investors and hedge funds.

Tenet Healthcare Trading Down 1.4 %

THC stock traded down $1.91 during midday trading on Tuesday, hitting $139.10. 1,242,245 shares of the company's stock were exchanged, compared to its average volume of 1,222,984. Tenet Healthcare Co. has a one year low of $70.76 and a one year high of $171.20. The stock's fifty day moving average price is $153.82 and its 200-day moving average price is $149.20. The company has a market cap of $13.23 billion, a PE ratio of 4.52, a price-to-earnings-growth ratio of 0.62 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.

Tenet Healthcare (NYSE:THC - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $2.93 earnings per share (EPS) for the quarter, beating 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 business had revenue of $5.12 billion during the quarter, compared to analyst estimates of $5.05 billion. During the same period in the previous year, the firm earned $1.44 EPS. Tenet Healthcare's quarterly revenue was up 1.1% compared to the same quarter last year. Research analysts predict that Tenet Healthcare Co. will post 11.38 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Lisa Y. Foo sold 4,000 shares of the business's stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $155.94, for a total value of $623,760.00. Following the sale, the executive vice president now owns 15,566 shares of the company's stock, valued at $2,427,362.04. The trade was a 20.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.93% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Barclays raised their target price on Tenet Healthcare from $171.00 to $190.00 and gave the company an "overweight" rating in a research note on Friday, November 8th. Truist Financial reissued a "buy" rating and set a $190.00 price target (up from $180.00) on shares of Tenet Healthcare in a research note on Wednesday, October 30th. UBS Group boosted their price objective on shares of Tenet Healthcare from $197.00 to $217.00 and gave the stock a "buy" rating in a research report on Wednesday, October 30th. Raymond James cut Tenet Healthcare from a "strong-buy" rating to an "outperform" rating and set a $195.00 target price for the company. in a research note on Friday, November 22nd. Finally, The Goldman Sachs Group raised their price target on Tenet Healthcare from $173.00 to $196.00 and gave the company a "buy" rating in a report on Wednesday, October 30th. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, Tenet Healthcare currently has a consensus rating of "Buy" and an average price target of $168.19.

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.