Qsemble Capital Management LP Lowers Stake in Tenet Healthcare Co. (NYSE:THC)

Qsemble Capital Management LP lowered its position in Tenet Healthcare Co. (NYSE:THC - Free Report) by 82.9% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,534 shares of the company's stock after selling 7,428 shares during the quarter. Qsemble Capital Management LP's holdings in Tenet Healthcare were worth $255,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Plato Investment Management Ltd bought a new position in shares of Tenet Healthcare during the 3rd quarter valued at about $28,000. ORG Wealth Partners LLC purchased a new position in shares of Tenet Healthcare during the third quarter worth approximately $30,000. Financial Management Professionals Inc. boosted its stake in shares of Tenet Healthcare by 2,222.2% in the 3rd quarter. Financial Management Professionals Inc. now owns 209 shares of the company's stock valued at $35,000 after purchasing an additional 200 shares in the last quarter. Innealta Capital LLC bought a new position in shares of Tenet Healthcare during the 2nd quarter valued at $28,000. Finally, ORG Partners LLC bought a new stake in Tenet Healthcare in the second quarter worth $31,000. 95.44% of the stock is owned by institutional investors.

Tenet Healthcare Price Performance

Shares of Tenet Healthcare stock traded down $3.66 during trading hours on Thursday, reaching $141.98. 1,278,798 shares of the company's stock were exchanged, compared to its average volume of 1,232,247. The company has a market capitalization of $13.50 billion, a P/E ratio of 4.55, a price-to-earnings-growth ratio of 0.64 and a beta of 2.15. Tenet Healthcare Co. has a 1 year low of $65.90 and a 1 year high of $171.20. The business has a fifty day moving average of $157.82 and a two-hundred day moving average of $148.41. The company has a quick ratio of 1.52, a current ratio of 1.58 and a debt-to-equity ratio of 2.35.

Tenet Healthcare (NYSE:THC - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $2.93 EPS for the quarter, topping analysts' consensus estimates of $2.33 by $0.60. The firm had revenue of $5.12 billion for 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%. The firm's revenue was up 1.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.44 earnings per share. As a group, research analysts predict that Tenet Healthcare Co. will post 11.38 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently commented on THC. Cantor Fitzgerald lifted their price objective on Tenet Healthcare from $168.00 to $177.00 and gave the stock an "overweight" rating in a report on Wednesday, October 30th. KeyCorp started coverage on shares of Tenet Healthcare in a report on Friday, October 11th. They issued an "overweight" rating and a $200.00 price target on the stock. UBS Group upped their price objective on shares of Tenet Healthcare from $197.00 to $217.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. The Goldman Sachs Group boosted their price objective 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. Finally, Raymond James cut Tenet Healthcare from a "strong-buy" rating to an "outperform" rating and set a $195.00 price target for the company. in a research note on Friday, November 22nd. Two 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 company. According to MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $168.19.

Insider Activity

In related news, EVP Lisa Y. Foo sold 4,000 shares of the 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 $2,427,362.04. This represents a 20.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider R. Scott Ramsey sold 11,599 shares of the business'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 completion of the transaction, the insider now directly owns 6,324 shares in the company, valued at $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. Corporate insiders own 0.93% of the company's stock.

About Tenet Healthcare

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.