Quantinno Capital Management LP Has $6.76 Million Stock Holdings in Tenet Healthcare Co. (NYSE:THC)

Quantinno Capital Management LP boosted its stake in shares of Tenet Healthcare Co. (NYSE:THC - Free Report) by 40.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,672 shares of the company's stock after acquiring an additional 11,749 shares during the quarter. Quantinno Capital Management LP's holdings in Tenet Healthcare were worth $6,760,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of THC. Innealta Capital LLC acquired a new position in Tenet Healthcare during the second quarter worth $28,000. Plato Investment Management Ltd acquired a new stake in shares of Tenet Healthcare in the third quarter valued at $28,000. ORG Wealth Partners LLC acquired a new stake in shares of Tenet Healthcare in the third quarter valued at $30,000. ORG Partners LLC acquired a new stake in shares of Tenet Healthcare in the second quarter valued at $31,000. Finally, Blue Trust Inc. increased its stake in shares of Tenet Healthcare by 93.0% in the second quarter. Blue Trust Inc. now owns 249 shares of the company's stock valued at $33,000 after buying an additional 120 shares in the last quarter. 95.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Lisa Y. Foo sold 4,000 shares of Tenet Healthcare stock in a transaction that occurred 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 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.93% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

THC has been the subject of a number of research reports. The Goldman Sachs Group raised their target price on Tenet Healthcare from $173.00 to $196.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. Cantor Fitzgerald raised their target price on Tenet Healthcare from $168.00 to $177.00 and gave the company an "overweight" rating in a research note on Wednesday, October 30th. Wells Fargo & Company cut Tenet Healthcare from an "overweight" rating to an "equal weight" rating and decreased their price target for the company from $205.00 to $150.00 in a report on Monday, November 25th. Truist Financial reiterated a "buy" rating and issued a $190.00 price target (up previously from $180.00) on shares of Tenet Healthcare in a report on Wednesday, October 30th. Finally, KeyCorp began coverage on Tenet Healthcare in a report on Friday, October 11th. They issued an "overweight" rating and a $200.00 price target on the stock. 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 MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $168.19.

Tenet Healthcare Stock Up 0.0 %

Shares of NYSE:THC traded up $0.04 during trading on Friday, hitting $138.94. 1,108,316 shares of the company's stock traded hands, compared to its average volume of 1,238,652. Tenet Healthcare Co. has a 52 week low of $67.78 and a 52 week high of $171.20. The company has a current ratio of 1.58, a quick ratio of 1.52 and a debt-to-equity ratio of 2.35. The company has a market cap of $13.21 billion, a price-to-earnings ratio of 4.45, a price-to-earnings-growth ratio of 0.63 and a beta of 2.06. The company has a 50-day moving average price of $154.32 and a 200-day moving average price of $148.85.

Tenet Healthcare (NYSE:THC - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The company reported $2.93 earnings per share 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 for the quarter, compared to analysts' expectations of $5.05 billion. During the same quarter in the previous year, the business posted $1.44 EPS. Tenet Healthcare's revenue for the quarter was up 1.1% on a year-over-year basis. As a group, research analysts forecast that Tenet Healthcare Co. will post 11.38 EPS for the current fiscal year.

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.