Tenet Healthcare Co. (NYSE:THC) Shares Sold by Barclays PLC

Barclays PLC lowered its position in Tenet Healthcare Co. (NYSE:THC - Free Report) by 34.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 138,866 shares of the company's stock after selling 73,965 shares during the period. Barclays PLC owned approximately 0.15% of Tenet Healthcare worth $23,079,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. MML Investors Services LLC increased its position in shares of Tenet Healthcare by 3.8% during the third quarter. MML Investors Services LLC now owns 11,409 shares of the company's stock worth $1,896,000 after purchasing an additional 417 shares in the last quarter. Dorsey Wright & Associates acquired a new position in Tenet Healthcare during the 3rd quarter valued at about $1,602,000. Zacks Investment Management raised its stake in Tenet Healthcare by 10.9% in the third quarter. Zacks Investment Management now owns 20,127 shares of the company's stock valued at $3,345,000 after buying an additional 1,980 shares during the last quarter. EP Wealth Advisors LLC purchased a new stake in shares of Tenet Healthcare during the third quarter worth about $231,000. Finally, Worldquant Millennium Advisors LLC acquired a new position in shares of Tenet Healthcare during the third quarter valued at about $1,821,000. Hedge funds and other institutional investors own 95.44% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on THC shares. Truist Financial reissued a "buy" rating and set a $190.00 target price (up previously from $180.00) on shares of Tenet Healthcare in a research report on Wednesday, October 30th. KeyCorp began coverage on Tenet Healthcare in a research report on Friday, October 11th. They issued an "overweight" rating and a $200.00 target price on the stock. Royal Bank of Canada lifted their price target on Tenet Healthcare from $174.00 to $183.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 30th. Barclays increased their price objective on Tenet Healthcare from $171.00 to $190.00 and gave the company an "overweight" rating in a report on Friday, November 8th. Finally, 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. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $168.19.

Insider Transactions at Tenet Healthcare

In other Tenet Healthcare news, EVP Lisa Y. Foo sold 4,000 shares of Tenet Healthcare 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 sale, the executive vice president now owns 15,566 shares of the company's stock, 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 SEC, which is available through this hyperlink. Corporate insiders own 0.93% of the company's stock.

Tenet Healthcare Price Performance

Shares of NYSE:THC traded up $1.35 during trading on Friday, reaching $136.71. 1,009,359 shares of the company's stock traded hands, compared to its average volume of 1,223,606. The firm has a market cap of $13.00 billion, a PE ratio of 4.38, a P/E/G ratio of 0.63 and a beta of 2.06. Tenet Healthcare Co. has a fifty-two week low of $73.21 and a fifty-two week high of $171.20. 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 company has a 50-day simple moving average of $152.09 and a 200-day simple moving average of $149.38.

Tenet Healthcare (NYSE:THC - Get Free Report) last announced its 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. The business had revenue of $5.12 billion during the quarter, compared to the consensus estimate of $5.05 billion. Tenet Healthcare had a return on equity of 24.05% and a net margin of 14.91%. The business's quarterly revenue was up 1.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.44 EPS. As a group, analysts predict that Tenet Healthcare Co. will post 11.38 earnings per share for the current year.

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.