Rockefeller Capital Management L.P. reduced its holdings in shares of Tenet Healthcare Co. (NYSE:THC - Free Report) by 26.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,585 shares of the company's stock after selling 3,789 shares during the quarter. Rockefeller Capital Management L.P.'s holdings in Tenet Healthcare were worth $1,759,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Innealta Capital LLC purchased a new position in Tenet Healthcare during the 2nd quarter worth $28,000. Plato Investment Management Ltd bought a new stake in Tenet Healthcare in the 3rd quarter worth about $28,000. ORG Wealth Partners LLC bought a new position in shares of Tenet Healthcare during the 3rd quarter worth approximately $30,000. ORG Partners LLC bought a new position in shares of Tenet Healthcare in the second quarter valued at approximately $31,000. Finally, Blue Trust Inc. lifted its holdings in Tenet Healthcare by 93.0% during the second quarter. Blue Trust Inc. now owns 249 shares of the company's stock worth $33,000 after acquiring an additional 120 shares during the period. Institutional investors and hedge funds own 95.44% of the company's stock.
Tenet Healthcare Price Performance
NYSE:THC traded up $0.04 during trading hours 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. The firm has a market cap of $13.21 billion, a P/E ratio of 4.45, a P/E/G ratio of 0.63 and a beta of 2.06. The company has a quick ratio of 1.52, a current ratio of 1.58 and a debt-to-equity ratio of 2.35. The business's fifty day simple moving average is $154.32 and its two-hundred day simple moving average is $148.98. Tenet Healthcare Co. has a 52 week low of $67.78 and a 52 week high of $171.20.
Tenet Healthcare (NYSE:THC - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $2.93 EPS for the quarter, topping 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 company had revenue of $5.12 billion during the quarter, compared to analyst estimates of $5.05 billion. During the same quarter in the previous year, the firm earned $1.44 earnings per share. Tenet Healthcare's revenue was up 1.1% on a year-over-year basis. On average, research analysts anticipate that Tenet Healthcare Co. will post 11.38 earnings per share for the current fiscal year.
Insider Transactions at Tenet Healthcare
In other Tenet Healthcare news, EVP Lisa Y. Foo sold 4,000 shares of the company's 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 completion of the sale, the executive vice president now owns 15,566 shares of the company's stock, valued at $2,427,362.04. This represents a 20.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.93% of the stock is currently owned by insiders.
Analyst Ratings Changes
THC has been the subject of several research analyst reports. Wells Fargo & Company lowered Tenet Healthcare from an "overweight" rating to an "equal weight" rating and decreased their target price for the company from $205.00 to $150.00 in a research report on Monday, November 25th. KeyCorp assumed coverage on shares of Tenet Healthcare in a research report on Friday, October 11th. They issued an "overweight" rating and a $200.00 price objective on the stock. Cantor Fitzgerald raised their price target on shares of Tenet Healthcare from $168.00 to $177.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 30th. Barclays upped their price objective on Tenet Healthcare from $171.00 to $190.00 and gave the company an "overweight" rating in a research note on Friday, November 8th. Finally, Raymond James lowered 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. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $168.19.
View Our Latest Analysis on Tenet Healthcare
About Tenet Healthcare
(
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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