Quadrature Capital Ltd trimmed its position in Tenet Healthcare Co. (NYSE:THC - Free Report) by 43.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,445 shares of the company's stock after selling 11,882 shares during the quarter. Quadrature Capital Ltd's holdings in Tenet Healthcare were worth $2,567,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Legacy Capital Group California Inc. acquired a new position in shares of Tenet Healthcare during the 3rd quarter worth about $1,055,000. Diversified Trust Co bought a new position in shares of Tenet Healthcare during the 2nd quarter valued at about $558,000. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Tenet Healthcare by 124.0% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 12,787 shares of the company's stock valued at $1,701,000 after purchasing an additional 7,078 shares in the last quarter. Caprock Group LLC bought a new stake in Tenet Healthcare in the 2nd quarter valued at approximately $477,000. Finally, Intech Investment Management LLC lifted its stake in Tenet Healthcare by 44.4% in the 3rd quarter. Intech Investment Management LLC now owns 79,266 shares of the company's stock valued at $13,174,000 after acquiring an additional 24,385 shares in the last quarter. 95.44% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of equities research analysts have recently issued reports on THC shares. UBS Group upped their price objective on Tenet Healthcare from $197.00 to $217.00 and gave the stock a "buy" rating in a research note on Wednesday, October 30th. KeyCorp started coverage on Tenet Healthcare in a research note on Friday, October 11th. They set an "overweight" rating and a $200.00 price objective on the stock. Raymond James cut Tenet Healthcare from a "strong-buy" rating to an "outperform" rating and set a $195.00 price objective on the stock. in a research note on Friday, November 22nd. Truist Financial reaffirmed a "buy" rating and set a $190.00 price target (up previously from $180.00) on shares of Tenet Healthcare in a report on Wednesday, October 30th. Finally, Barclays lifted their target price on shares of Tenet Healthcare from $171.00 to $190.00 and gave the stock an "overweight" rating in a report on Friday, November 8th. Two equities 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. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $168.19.
Check Out Our Latest Report on Tenet Healthcare
Tenet Healthcare Trading Up 0.0 %
NYSE THC traded up $0.04 on Friday, hitting $138.94. The company's stock had a trading volume of 1,108,316 shares, compared to its average volume of 1,238,652. The company's 50-day moving average is $154.32 and its 200 day moving average is $148.85. 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 Co. has a 1-year low of $67.78 and a 1-year high of $171.20. The firm has a market cap of $13.21 billion, a PE ratio of 4.45, a PEG ratio of 0.63 and a beta of 2.06.
Tenet Healthcare (NYSE:THC - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $2.93 EPS for the quarter, beating analysts' consensus estimates of $2.33 by $0.60. The company had revenue of $5.12 billion for the quarter, compared to analyst estimates of $5.05 billion. Tenet Healthcare had a net margin of 14.91% and a return on equity of 24.05%. The company's quarterly revenue was up 1.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.44 EPS. As a group, analysts predict that Tenet Healthcare Co. will post 11.38 earnings per share for the current fiscal year.
Insider Buying and Selling
In other Tenet Healthcare news, EVP Lisa Y. Foo sold 4,000 shares of the firm'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 transaction, the executive vice president now directly owns 15,566 shares of the company's stock, valued at approximately $2,427,362.04. This trade represents a 20.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.93% of the stock is owned by insiders.
Tenet Healthcare Profile
(
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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