Tenet Healthcare Co. (NYSE:THC) Shares Sold by Parkman Healthcare Partners LLC

Parkman Healthcare Partners LLC decreased its position in Tenet Healthcare Co. (NYSE:THC - Free Report) by 37.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 93,753 shares of the company's stock after selling 55,174 shares during the period. Tenet Healthcare accounts for 2.0% of Parkman Healthcare Partners LLC's investment portfolio, making the stock its 15th biggest holding. Parkman Healthcare Partners LLC owned 0.10% of Tenet Healthcare worth $15,582,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Optas LLC increased its stake in shares of Tenet Healthcare by 3.4% during the 3rd quarter. Optas LLC now owns 2,821 shares of the company's stock worth $469,000 after purchasing an additional 93 shares during the last quarter. Signaturefd LLC grew its position in Tenet Healthcare by 17.6% during the third quarter. Signaturefd LLC now owns 628 shares of the company's stock worth $104,000 after buying an additional 94 shares in the last quarter. CIBC Asset Management Inc boosted its holdings in shares of Tenet Healthcare by 3.4% in the 3rd quarter. CIBC Asset Management Inc now owns 2,887 shares of the company's stock worth $480,000 after purchasing an additional 94 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Tenet Healthcare by 20.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 560 shares of the company's stock worth $74,000 after purchasing an additional 96 shares in the last quarter. Finally, First Citizens Bank & Trust Co. boosted its holdings in shares of Tenet Healthcare by 5.1% in the 3rd quarter. First Citizens Bank & Trust Co. now owns 2,226 shares of the company's stock worth $370,000 after purchasing an additional 109 shares in the last quarter. Hedge funds and other institutional investors own 95.44% of the company's stock.

Tenet Healthcare Trading Up 0.2 %

Tenet Healthcare stock traded up $0.24 during trading hours on Wednesday, hitting $141.51. The company had a trading volume of 658,818 shares, compared to its average volume of 1,224,805. The company has a 50-day moving average price of $155.85 and a two-hundred day moving average price of $148.92. 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 $13.46 billion, a P/E ratio of 4.53, a P/E/G ratio of 0.64 and a beta of 2.06. The company has a debt-to-equity ratio of 2.35, a quick ratio of 1.52 and a current ratio of 1.58.

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on THC shares. Wells Fargo & Company cut Tenet Healthcare from an "overweight" rating to an "equal weight" rating and cut their price objective for the stock from $205.00 to $150.00 in a report on Monday, November 25th. Barclays boosted their target price on Tenet Healthcare from $171.00 to $190.00 and gave the company an "overweight" rating in a research note on Friday, November 8th. Truist Financial reissued a "buy" rating and issued a $190.00 target price (up previously from $180.00) on shares of Tenet Healthcare in a research note on Wednesday, October 30th. The Goldman Sachs Group boosted 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. Finally, Raymond James lowered Tenet Healthcare from a "strong-buy" rating to an "outperform" rating and set a $195.00 price target for the company. in a research report on Friday, November 22nd. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $168.19.

Insider Buying and Selling

In related news, EVP Lisa Y. Foo sold 4,000 shares of Tenet Healthcare stock in a transaction dated 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider R. Scott Ramsey sold 11,599 shares of the business's stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $162.06, for a total value of $1,879,733.94. Following the sale, the insider now owns 6,324 shares of the company's stock, valued at approximately $1,024,867.44. This trade represents a 64.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.93% of the stock is currently owned by company insiders.

Tenet Healthcare Profile

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.