Tenet Healthcare Co. (NYSE:THC) Shares Bought by Sanctuary Advisors LLC

Sanctuary Advisors LLC increased its position in Tenet Healthcare Co. (NYSE:THC - Free Report) by 470.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,289 shares of the company's stock after acquiring an additional 12,609 shares during the period. Sanctuary Advisors LLC's holdings in Tenet Healthcare were worth $2,541,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of the stock. Coldstream Capital Management Inc. raised its stake in shares of Tenet Healthcare by 2.2% during the 3rd quarter. Coldstream Capital Management Inc. now owns 3,406 shares of the company's stock valued at $566,000 after buying an additional 74 shares during the last quarter. Optas LLC grew its position in shares of Tenet Healthcare by 3.4% during the 3rd quarter. Optas LLC now owns 2,821 shares of the company's stock valued at $469,000 after acquiring an additional 93 shares during the period. Signaturefd LLC grew its position in shares of Tenet Healthcare by 17.6% during the 3rd quarter. Signaturefd LLC now owns 628 shares of the company's stock valued at $104,000 after acquiring an additional 94 shares during the period. CIBC Asset Management Inc grew its position in shares of Tenet Healthcare by 3.4% during the 3rd quarter. CIBC Asset Management Inc now owns 2,887 shares of the company's stock valued at $480,000 after acquiring an additional 94 shares during the period. Finally, EverSource Wealth Advisors LLC grew its position in shares of Tenet Healthcare by 20.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 560 shares of the company's stock valued at $74,000 after acquiring an additional 96 shares during the period. Hedge funds and other institutional investors own 95.44% of the company's stock.

Tenet Healthcare Stock Down 3.8 %

NYSE:THC traded down $5.09 during midday trading on Wednesday, reaching $127.46. The company had a trading volume of 1,235,736 shares, compared to its average volume of 1,226,852. The stock's fifty day simple moving average is $150.81 and its 200-day simple moving average is $149.22. 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 firm has a market capitalization of $12.12 billion, a price-to-earnings ratio of 4.08, a PEG ratio of 0.61 and a beta of 2.06. Tenet Healthcare Co. has a 12-month low of $73.21 and a 12-month high of $171.20.

Tenet Healthcare (NYSE:THC - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $2.93 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.33 by $0.60. Tenet Healthcare had a net margin of 14.91% and a return on equity of 24.05%. The company had revenue of $5.12 billion during the quarter, compared to the consensus estimate of $5.05 billion. During the same quarter in the previous year, the firm earned $1.44 earnings per share. The firm's quarterly revenue was up 1.1% on a year-over-year basis. On average, sell-side analysts anticipate that Tenet Healthcare Co. will post 11.38 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Lisa Y. Foo sold 4,000 shares of the business's 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 transaction, the executive vice president now owns 15,566 shares in the company, valued at approximately $2,427,362.04. The trade was a 20.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.93% of the company's stock.

Wall Street Analysts Forecast Growth

THC has been the topic of several research analyst reports. Wells Fargo & Company cut Tenet Healthcare from an "overweight" rating to an "equal weight" rating and lowered their price objective for the stock from $205.00 to $150.00 in a report on Monday, November 25th. StockNews.com lowered shares of Tenet Healthcare from a "strong-buy" rating to a "buy" rating in a research note on Tuesday. Truist Financial reissued a "buy" rating and issued a $190.00 target price (up from $180.00) on shares of Tenet Healthcare in a research note on Wednesday, October 30th. Cantor Fitzgerald raised their target price 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. Finally, KeyCorp assumed coverage on shares of Tenet Healthcare in a research note on Friday, October 11th. They issued an "overweight" rating and a $200.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $166.88.

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.