State Street Corp Trims Holdings in Tenet Healthcare Co. (NYSE:THC)

State Street Corp lowered its position in Tenet Healthcare Co. (NYSE:THC - Free Report) by 1.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,907,644 shares of the company's stock after selling 36,301 shares during the quarter. State Street Corp owned approximately 3.06% of Tenet Healthcare worth $483,250,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Plato Investment Management Ltd bought a new stake in shares of Tenet Healthcare in the third quarter valued at about $28,000. ORG Wealth Partners LLC acquired a new stake in shares of Tenet Healthcare in the 3rd quarter worth $30,000. Financial Management Professionals Inc. raised its holdings in shares of Tenet Healthcare by 2,222.2% in the third quarter. Financial Management Professionals Inc. now owns 209 shares of the company's stock worth $35,000 after buying an additional 200 shares during the last quarter. Innealta Capital LLC purchased a new stake in shares of Tenet Healthcare during the second quarter valued at $28,000. Finally, True Wealth Design LLC acquired a new stake in Tenet Healthcare during the 3rd quarter worth about $38,000. 95.44% of the stock is owned by institutional investors.

Insider Transactions at Tenet Healthcare

In other news, EVP Lisa Y. Foo sold 4,000 shares of Tenet Healthcare stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $155.94, for a total transaction of $623,760.00. Following the transaction, the executive vice president now owns 15,566 shares in the company, valued at $2,427,362.04. The trade was a 20.44 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.93% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on THC. Raymond James downgraded Tenet Healthcare from a "strong-buy" rating to an "outperform" rating and set a $195.00 target price for the company. in a report on Friday, November 22nd. Wells Fargo & Company cut shares of Tenet Healthcare from an "overweight" rating to an "equal weight" rating and reduced their target price for the stock from $205.00 to $150.00 in a report on Monday, November 25th. Barclays upped their price target on shares of Tenet Healthcare from $171.00 to $190.00 and gave the company an "overweight" rating in a report on Friday, November 8th. Truist Financial reissued a "buy" rating and issued a $190.00 price objective (up previously from $180.00) on shares of Tenet Healthcare in a report on Wednesday, October 30th. Finally, Royal Bank of Canada raised their target price on Tenet Healthcare from $174.00 to $183.00 and gave the stock an "outperform" rating in a report on Wednesday, October 30th. 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $168.19.

Tenet Healthcare Price Performance

Shares of NYSE:THC traded up $2.07 during trading on Monday, reaching $141.01. The stock had a trading volume of 1,183,118 shares, compared to its average volume of 1,222,680. The business has a fifty day moving average price of $154.32 and a 200-day moving average price of $149.11. The company has a debt-to-equity ratio of 2.35, a quick ratio of 1.52 and a current ratio of 1.58. The stock has a market cap of $13.41 billion, a PE ratio of 4.45, a PEG ratio of 0.62 and a beta of 2.06. Tenet Healthcare Co. has a 1-year low of $70.76 and a 1-year high of $171.20.

Tenet Healthcare (NYSE:THC - Get Free Report) last issued its earnings results on Tuesday, October 29th. The company reported $2.93 EPS for the quarter, beating analysts' consensus estimates of $2.33 by $0.60. The business had revenue of $5.12 billion during the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same period in the prior year, the business earned $1.44 earnings per share. On average, equities analysts forecast that Tenet Healthcare Co. will post 11.38 earnings per share 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.