Yousif Capital Management LLC lessened its stake in shares of Tenet Healthcare Corporation (NYSE:THC – Free Report) by 12.5% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 18,210 shares of the company’s stock after selling 2,606 shares during the period. Yousif Capital Management LLC’s holdings in Tenet Healthcare were worth $4,654,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also recently made changes to their positions in the company. Root Financial Partners LLC purchased a new stake in shares of Tenet Healthcare in the third quarter worth about $111,000. Reyes Financial Architecture Inc. grew its holdings in Tenet Healthcare by 31.8% during the 3rd quarter. Reyes Financial Architecture Inc. now owns 365 shares of the company’s stock valued at $93,000 after buying an additional 88 shares in the last quarter. Crossmark Global Holdings Inc. grew its holdings in Tenet Healthcare by 1.0% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 13,258 shares of the company’s stock valued at $3,388,000 after buying an additional 137 shares in the last quarter. Quadrant Capital Group LLC increased its stake in Tenet Healthcare by 5.1% in the 3rd quarter. Quadrant Capital Group LLC now owns 8,565 shares of the company’s stock worth $2,286,000 after acquiring an additional 413 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its stake in Tenet Healthcare by 3.3% in the 3rd quarter. Nisa Investment Advisors LLC now owns 2,617 shares of the company’s stock worth $669,000 after acquiring an additional 83 shares during the last quarter. Hedge funds and other institutional investors own 95.44% of the company’s stock.
Wall Street Analysts Forecast Growth
Several analysts have recently issued reports on the company. Barclays upped their price objective on Tenet Healthcare from $240.00 to $271.00 and gave the stock an “overweight” rating in a report on Friday, July 24th. Zacks Research lowered shares of Tenet Healthcare from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 29th. Cantor Fitzgerald restated an “overweight” rating on shares of Tenet Healthcare in a research report on Friday, October 2nd. TD Cowen upped their price target on shares of Tenet Healthcare from $233.00 to $263.00 and gave the company a “buy” rating in a research note on Monday, July 27th. Finally, Wells Fargo & Company increased their price objective on shares of Tenet Healthcare from $231.00 to $281.00 and gave the company an “overweight” rating in a research report on Monday, August 3rd. Eighteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $278.45.
View Our Latest Research Report on Tenet Healthcare
Tenet Healthcare Trading Down 0.1%
Shares of THC stock opened at $268.13 on Monday. Tenet Healthcare Corporation has a 1 year low of $157.58 and a 1 year high of $283.05. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.41 and a quick ratio of 1.35. The stock’s 50 day simple moving average is $264.88 and its two-hundred day simple moving average is $222.13. The company has a market cap of $21.59 billion, a PE ratio of 10.34, a price-to-earnings-growth ratio of 1.02 and a beta of 1.20.
Tenet Healthcare (NYSE:THC – Get Free Report) last posted its quarterly earnings data on Thursday, July 23rd. The company reported $6.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.26 by $1.86. The business had revenue of $6.04 billion during the quarter, compared to analyst estimates of $5.43 billion. Tenet Healthcare had a return on equity of 26.76% and a net margin of 10.27%. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same period last year, the company earned $4.02 EPS. Research analysts predict that Tenet Healthcare Corporation will post 21.04 earnings per share for the current year.
Insider Activity at Tenet Healthcare
In related news, Director Nadja West sold 1,152 shares of the stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $258.80, for a total transaction of $298,137.60. Following the sale, the director owned 23,653 shares in the company, valued at approximately $6,121,396.40. This represents a 4.64% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Saumya Sutaria sold 50,000 shares of the firm’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $278.71, for a total value of $13,935,500.00. Following the completion of the sale, the chief executive officer owned 483,564 shares of the company’s stock, valued at approximately $134,774,122.44. This represents a 9.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 116,484 shares of company stock worth $31,478,363 in the last ninety days. Corporate insiders own 0.97% of the company’s stock.
Tenet Healthcare Profile
Tenet Healthcare Corp. (NYSE: THC) is a diversified healthcare services company headquartered in Dallas, Texas. Through its hospital operations and outpatient platforms, the company provides a range of medical services to patients across the United States.
Tenet operates acute care and specialty hospitals, ambulatory surgery centers, imaging facilities and other outpatient care sites. Its United Surgical Partners International subsidiary is a major provider of ambulatory surgery services and partners with physicians and health systems.
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