Vestcor Inc Has $1.23 Million Stock Holdings in Tenet Healthcare Co. (NYSE:THC)

Vestcor Inc raised its position in shares of Tenet Healthcare Co. (NYSE:THC - Free Report) by 243.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,416 shares of the company's stock after purchasing an additional 5,256 shares during the period. Vestcor Inc's holdings in Tenet Healthcare were worth $1,233,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in THC. Cetera Investment Advisers acquired a new position in shares of Tenet Healthcare during the 1st quarter valued at about $1,772,000. Cetera Advisors LLC bought a new stake in shares of Tenet Healthcare during the 1st quarter worth $227,000. CWM LLC grew its position in shares of Tenet Healthcare by 49.7% in the second quarter. CWM LLC now owns 2,255 shares of the company's stock valued at $300,000 after purchasing an additional 749 shares during the last quarter. Diversified Trust Co acquired a new position in shares of Tenet Healthcare during the second quarter worth approximately $558,000. Finally, Wealth Enhancement Advisory Services LLC grew its position in Tenet Healthcare by 40.2% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 3,595 shares of the company's stock worth $478,000 after buying an additional 1,030 shares in the last quarter. Institutional investors own 95.44% of the company's stock.

Tenet Healthcare Stock Down 3.4 %

Shares of NYSE:THC traded down $4.71 during midday trading on Thursday, reaching $135.38. The company had a trading volume of 1,866,123 shares, compared to its average volume of 1,223,988. Tenet Healthcare Co. has a 1-year low of $71.08 and a 1-year 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 stock has a market cap of $12.87 billion, a PE ratio of 4.34, a P/E/G ratio of 0.62 and a beta of 2.06. The business's 50 day moving average price is $152.48 and its 200 day moving average price is $149.09.

Tenet Healthcare (NYSE:THC - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The company reported $2.93 earnings per share for the quarter, beating 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 for the quarter, compared to analysts' expectations of $5.05 billion. During the same period in the prior year, the firm earned $1.44 EPS. The business's revenue was up 1.1% on a year-over-year basis. Research analysts forecast that Tenet Healthcare Co. will post 11.38 EPS for the current fiscal year.

Insider Buying and Selling at Tenet Healthcare

In related news, EVP Lisa Y. Foo sold 4,000 shares of the firm's 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 sale, the executive vice president now owns 15,566 shares of the company's stock, valued at $2,427,362.04. This trade represents a 20.44 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.93% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on THC shares. Cantor Fitzgerald increased their price objective on shares of Tenet Healthcare from $168.00 to $177.00 and gave the company an "overweight" rating in a research note on Wednesday, October 30th. Raymond James cut Tenet Healthcare from a "strong-buy" rating to an "outperform" rating and set a $195.00 price objective for the company. in a report on Friday, November 22nd. The Goldman Sachs Group lifted their price objective on Tenet Healthcare from $173.00 to $196.00 and gave the company a "buy" rating in a research report on Wednesday, October 30th. Royal Bank of Canada raised their price objective on shares of Tenet Healthcare from $174.00 to $183.00 and gave the company an "outperform" rating in a research report on Wednesday, October 30th. Finally, Truist Financial reissued a "buy" rating and set a $190.00 price target (up from $180.00) on shares of Tenet Healthcare in a research note on Wednesday, October 30th. Two investment 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's stock. Based on data from MarketBeat.com, Tenet Healthcare presently has an average rating of "Buy" and an average target price of $168.19.

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.