Virtu Financial LLC lessened its position in Tenet Healthcare Co. (NYSE:THC - Free Report) by 59.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,715 shares of the company's stock after selling 5,359 shares during the quarter. Virtu Financial LLC's holdings in Tenet Healthcare were worth $617,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of THC. Innealta Capital LLC acquired a new stake in Tenet Healthcare in the 2nd quarter worth $28,000. Plato Investment Management Ltd bought a new stake in shares of Tenet Healthcare in the 3rd quarter worth approximately $28,000. ORG Wealth Partners LLC acquired a new stake in shares of Tenet Healthcare during the 3rd quarter worth approximately $30,000. ORG Partners LLC acquired a new position in shares of Tenet Healthcare in the second quarter valued at $31,000. Finally, Blue Trust Inc. lifted its position in Tenet Healthcare by 93.0% in the second quarter. Blue Trust Inc. now owns 249 shares of the company's stock worth $33,000 after purchasing an additional 120 shares during the period. Institutional investors and hedge funds own 95.44% of the company's stock.
Insiders Place Their Bets
In other news, EVP Lisa Y. Foo sold 4,000 shares of Tenet Healthcare 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 sale, the executive vice president now directly owns 15,566 shares of the company's stock, valued at $2,427,362.04. The trade was a 20.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.93% of the company's stock.
Tenet Healthcare Trading Up 1.0 %
THC traded up $1.35 during trading on Friday, hitting $136.71. 1,009,359 shares of the stock were exchanged, compared to its average volume of 1,223,606. Tenet Healthcare Co. has a 1 year low of $73.21 and a 1 year high of $171.20. The firm has a market cap of $13.00 billion, a price-to-earnings ratio of 4.38, a P/E/G ratio of 0.63 and a beta of 2.06. The firm has a 50 day simple moving average of $152.09 and a 200 day simple moving average of $149.26. 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 released its quarterly earnings results on Tuesday, October 29th. The company reported $2.93 earnings per share for the quarter, beating analysts' consensus estimates of $2.33 by $0.60. The business had revenue of $5.12 billion for 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 revenue was up 1.1% compared to the same quarter last year. During the same period last year, the business earned $1.44 EPS. As a group, equities analysts expect that Tenet Healthcare Co. will post 11.38 EPS for the current year.
Analyst Ratings Changes
A number of research firms have weighed in on THC. Barclays lifted 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. The Goldman Sachs Group increased their price objective on Tenet Healthcare from $173.00 to $196.00 and gave the stock a "buy" rating in a research note on Wednesday, October 30th. Truist Financial reaffirmed a "buy" rating and issued a $190.00 target price (up previously from $180.00) on shares of Tenet Healthcare in a report on Wednesday, October 30th. Cantor Fitzgerald boosted their price target on shares of Tenet Healthcare from $168.00 to $177.00 and gave the company an "overweight" rating in a research report on Wednesday, October 30th. Finally, Raymond James lowered shares of 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. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $168.19.
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About Tenet Healthcare
(
Free Report)
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.
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