Tidal Investments LLC Sells 4,350 Shares of Tenet Healthcare Co. (NYSE:THC)

Tidal Investments LLC decreased its holdings in shares of Tenet Healthcare Co. (NYSE:THC - Free Report) by 17.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 20,838 shares of the company's stock after selling 4,350 shares during the quarter. Tidal Investments LLC's holdings in Tenet Healthcare were worth $3,463,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Plato Investment Management Ltd bought a new position in Tenet Healthcare in the 3rd quarter valued at approximately $28,000. ORG Wealth Partners LLC bought a new stake in shares of Tenet Healthcare in the 3rd quarter valued at $30,000. Financial Management Professionals Inc. raised its stake in Tenet Healthcare by 2,222.2% during 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 acquired a new position in Tenet Healthcare in 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 currently owned by institutional investors and hedge funds.

Tenet Healthcare Trading Up 1.0 %

Shares of THC traded up $1.35 during mid-day trading on Friday, reaching $136.71. The company's stock had a trading volume of 1,009,359 shares, compared to its average volume of 1,223,606. 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 company's fifty day moving average price is $152.09 and its two-hundred day moving average price is $149.26. The stock 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 52 week low of $73.21 and a 52 week high of $171.20.

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

Analyst Upgrades and Downgrades

THC has been the subject of a number of research analyst reports. Barclays lifted their target price on Tenet Healthcare from $171.00 to $190.00 and gave the stock an "overweight" rating in a report on Friday, November 8th. KeyCorp initiated coverage on Tenet Healthcare in a report on Friday, October 11th. They issued an "overweight" rating and a $200.00 target price on the stock. Wells Fargo & Company lowered shares of Tenet Healthcare from an "overweight" rating to an "equal weight" rating and decreased their price objective for the company from $205.00 to $150.00 in a research note on Monday, November 25th. Royal Bank of Canada lifted their price objective on shares of Tenet Healthcare from $174.00 to $183.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 30th. Finally, Cantor Fitzgerald boosted their price objective on Tenet Healthcare from $168.00 to $177.00 and gave the company an "overweight" rating in a research note on Wednesday, October 30th. Two research 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 stock. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $168.19.

Insider Transactions at Tenet Healthcare

In other news, EVP Lisa Y. Foo sold 4,000 shares of the 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 transaction, the executive vice president now owns 15,566 shares of the company's stock, valued at approximately $2,427,362.04. This represents a 20.44 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.93% of the company's stock.

Tenet Healthcare Company 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.