Tenet Healthcare Co. (NYSE:THC) Stock Position Decreased by Point72 Asia Singapore Pte. Ltd.

Point72 Asia Singapore Pte. Ltd. cut its holdings in Tenet Healthcare Co. (NYSE:THC - Free Report) by 30.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,629 shares of the company's stock after selling 4,661 shares during the period. Point72 Asia Singapore Pte. Ltd.'s holdings in Tenet Healthcare were worth $1,767,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. FMR LLC increased its position in Tenet Healthcare by 88.0% during the 3rd quarter. FMR LLC now owns 7,700,693 shares of the company's stock valued at $1,279,855,000 after purchasing an additional 3,604,161 shares during the period. Acadian Asset Management LLC raised its stake 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 buying an additional 321,789 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in Tenet Healthcare by 344.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 317,198 shares of the company's stock valued at $52,718,000 after acquiring an additional 245,875 shares in the last quarter. Renaissance Technologies LLC purchased a new position in shares of Tenet Healthcare in the 2nd quarter valued at approximately $27,454,000. Finally, AQR Capital Management LLC grew its stake in 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 period. 95.44% of the stock is owned by institutional investors.

Analyst Ratings Changes

THC has been the subject of several research reports. The Goldman Sachs Group increased their price target on shares of Tenet Healthcare from $173.00 to $196.00 and gave the stock a "buy" rating in a research note on Wednesday, October 30th. Royal Bank of Canada lifted their target price on shares of Tenet Healthcare from $174.00 to $183.00 and gave the company an "outperform" rating in a report on Wednesday, October 30th. Truist Financial reaffirmed a "buy" rating and set a $190.00 price objective (up previously from $180.00) on shares of Tenet Healthcare 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 on the stock. in a research note on Friday, November 22nd. Finally, UBS Group upped their price target on shares of Tenet Healthcare from $197.00 to $217.00 and gave the stock a "buy" rating in a research note on Wednesday, October 30th. Two research 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's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $168.19.

Tenet Healthcare Price Performance

THC stock traded down $0.88 during mid-day trading on Monday, reaching $141.80. 483,584 shares of the company's stock were exchanged, compared to its average volume of 1,225,529. The company has a debt-to-equity ratio of 2.35, a current ratio of 1.58 and a quick ratio of 1.52. The company has a market cap of $13.48 billion, a price-to-earnings ratio of 4.55, a price-to-earnings-growth ratio of 0.64 and a beta of 2.15. The stock's 50 day moving average is $156.87 and its 200 day moving average is $148.73. Tenet Healthcare Co. has a 12-month low of $67.78 and a 12-month high of $171.20.

Tenet Healthcare (NYSE:THC - Get Free Report) last announced 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. Tenet Healthcare had a return on equity of 24.05% and a net margin of 14.91%. The company had revenue of $5.12 billion for the quarter, compared to analyst estimates of $5.05 billion. During the same quarter last year, the firm posted $1.44 EPS. The firm's revenue for the quarter was up 1.1% on a year-over-year basis. On average, research analysts expect that Tenet Healthcare Co. will post 11.38 EPS for the current year.

Insider Buying and Selling

In other news, EVP Lisa Y. Foo sold 4,000 shares of the stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $155.94, for a total value of $623,760.00. Following the sale, the executive vice president now directly owns 15,566 shares in the company, valued at approximately $2,427,362.04. This trade represents a 20.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider R. Scott Ramsey sold 11,599 shares of the business's stock in a transaction that occurred on 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. This trade represents a 64.72 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.93% of the company's stock.

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.