Whitebox Advisors LLC Trims Holdings in Tenet Healthcare Co. (NYSE:THC)

Whitebox Advisors LLC lessened its stake in Tenet Healthcare Co. (NYSE:THC - Free Report) by 24.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 21,402 shares of the company's stock after selling 7,000 shares during the quarter. Whitebox Advisors LLC's holdings in Tenet Healthcare were worth $3,557,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of THC. Worldquant Millennium Advisors LLC purchased a new position in shares of Tenet Healthcare in the third quarter worth about $1,821,000. Weiss Asset Management LP grew its stake in Tenet Healthcare by 8.7% in the 3rd quarter. Weiss Asset Management LP now owns 52,361 shares of the company's stock valued at $8,702,000 after buying an additional 4,207 shares in the last quarter. SYM FINANCIAL Corp bought a new stake in Tenet Healthcare during the 3rd quarter valued at $209,000. Quantinno Capital Management LP boosted its holdings in shares of Tenet Healthcare by 40.6% in the third quarter. Quantinno Capital Management LP now owns 40,672 shares of the company's stock worth $6,760,000 after acquiring an additional 11,749 shares during the period. Finally, Redwood Investment Management LLC raised its stake in shares of Tenet Healthcare by 4.0% during the 3rd quarter. Redwood Investment Management LLC now owns 10,886 shares of the company's stock valued at $1,777,000 after purchasing an additional 414 shares during the period. Hedge funds and other institutional investors own 95.44% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on THC. Wells Fargo & Company downgraded Tenet Healthcare from an "overweight" rating to an "equal weight" rating and cut their target price for the stock from $205.00 to $150.00 in a research note on Monday, November 25th. Cantor Fitzgerald increased their price objective on Tenet Healthcare from $168.00 to $177.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 30th. KeyCorp assumed coverage on Tenet Healthcare in a research note on Friday, October 11th. They issued an "overweight" rating and a $200.00 target price on the stock. Truist Financial reiterated a "buy" rating and set a $190.00 price target (up previously from $180.00) on shares of Tenet Healthcare in a research report on Wednesday, October 30th. Finally, The Goldman Sachs Group raised their target price on shares of Tenet Healthcare from $173.00 to $196.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. Two equities research 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. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $168.19.

Tenet Healthcare Trading Up 0.0 %

THC stock traded up $0.04 during midday trading on Friday, hitting $138.94. The company had a trading volume of 1,108,316 shares, compared to its average volume of 1,238,652. The stock has a market cap of $13.21 billion, a price-to-earnings ratio of 4.45, a PEG ratio of 0.63 and a beta of 2.06. 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 stock's 50 day moving average price is $154.32 and its 200 day moving average price is $148.85. Tenet Healthcare Co. has a 52 week low of $67.78 and a 52 week high of $171.20.

Tenet Healthcare (NYSE:THC - Get Free Report) last posted its earnings results on Tuesday, October 29th. The company reported $2.93 earnings per share for the quarter, topping 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%. Tenet Healthcare's revenue for the quarter was up 1.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.44 earnings per share. As a group, equities research analysts expect that Tenet Healthcare Co. will post 11.38 earnings per share for the current fiscal year.

Insider Activity at Tenet Healthcare

In other Tenet Healthcare news, EVP Lisa Y. Foo sold 4,000 shares of the firm's stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $155.94, for a total value of $623,760.00. Following the completion of the sale, the executive vice president now directly owns 15,566 shares in the company, valued at $2,427,362.04. This trade represents a 20.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.93% of the stock is owned by corporate 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.