Tenet Healthcare Co. (NYSE:THC) Shares Bought by Fmr LLC

Fmr LLC raised its position in Tenet Healthcare Co. (NYSE:THC) by 88.0% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 7,700,693 shares of the company’s stock after acquiring an additional 3,604,161 shares during the quarter. Fmr LLC owned about 0.08% of Tenet Healthcare worth $1,279,855,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. B. Riley Wealth Advisors Inc. boosted its holdings in shares of Tenet Healthcare by 10.3% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 4,148 shares of the company’s stock worth $436,000 after purchasing an additional 387 shares during the last quarter. Tidal Investments LLC acquired a new stake in shares of Tenet Healthcare in the first quarter valued at approximately $2,213,000. Comerica Bank increased its holdings in shares of Tenet Healthcare by 50.2% in the first quarter. Comerica Bank now owns 93,952 shares of the company’s stock valued at $9,875,000 after purchasing an additional 31,406 shares during the last quarter. Virtu Financial LLC acquired a new stake in shares of Tenet Healthcare in the first quarter valued at approximately $1,240,000. Finally, Farallon Capital Management LLC increased its holdings in shares of Tenet Healthcare by 70.1% in the first quarter. Farallon Capital Management LLC now owns 637,442 shares of the company’s stock valued at $67,002,000 after purchasing an additional 262,600 shares during the last quarter. 95.44% of the stock is currently owned by institutional investors and hedge funds.

Tenet Healthcare Trading Up 1.6 %

NYSE:THC opened at $145.59 on Wednesday. The firm has a market cap of $13.85 billion, a PE ratio of 4.66, a price-to-earnings-growth ratio of 0.64 and a beta of 2.15. The stock has a fifty day moving average price of $158.44 and a 200 day moving average price of $148.32. Tenet Healthcare Co. has a 12-month low of $65.90 and a 12-month high of $171.20. The company has a current ratio of 1.58, a quick ratio of 1.52 and a debt-to-equity ratio of 2.35.

Tenet Healthcare (NYSE:THC) last released its earnings results on Tuesday, October 29th. The company reported $2.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.33 by $0.60. The firm had revenue of $5.12 billion during the quarter, compared to analyst estimates of $5.05 billion. Tenet Healthcare had a return on equity of 24.05% and a net margin of 14.91%. Tenet Healthcare’s revenue was up 1.1% compared to the same quarter last year. During the same period last year, the business posted $1.44 earnings per share. Sell-side analysts anticipate that Tenet Healthcare Co. will post 11.38 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Tenet Healthcare news, EVP Lisa Y. Foo sold 4,000 shares of Tenet Healthcare stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $155.94, for a total transaction of $623,760.00. Following the completion of 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider R. Scott Ramsey sold 11,599 shares of Tenet Healthcare stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $162.06, for a total value of $1,879,733.94. Following the sale, the insider now directly owns 6,324 shares of the company’s stock, valued at $1,024,867.44. This trade represents a 64.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.93% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Cantor Fitzgerald increased their price target on Tenet Healthcare from $168.00 to $177.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Raymond James cut Tenet Healthcare from a “strong-buy” rating to an “outperform” rating and set a $195.00 price target for the company. in a report on Friday, November 22nd. Royal Bank of Canada raised their target price on Tenet Healthcare from $174.00 to $183.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Barclays raised their target price on Tenet Healthcare from $171.00 to $190.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Finally, UBS Group raised their target price on Tenet Healthcare from $197.00 to $217.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus 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.