Tenet Healthcare Co. (NYSE:THC) Shares Purchased by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. lifted its holdings in shares of Tenet Healthcare Co. (NYSE:THC) by 17.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,613 shares of the company’s stock after buying an additional 387 shares during the period. First Citizens Bank & Trust Co.’s holdings in Tenet Healthcare were worth $330,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in THC. Plato Investment Management Ltd acquired a new position in shares of Tenet Healthcare in the third quarter valued at approximately $28,000. ORG Wealth Partners LLC purchased a new position in Tenet Healthcare during the 3rd quarter worth $30,000. Financial Management Professionals Inc. boosted its holdings in shares of Tenet Healthcare by 2,222.2% in the third quarter. Financial Management Professionals Inc. now owns 209 shares of the company’s stock valued at $35,000 after acquiring an additional 200 shares in the last quarter. True Wealth Design LLC purchased a new position in Tenet Healthcare during the third quarter worth about $38,000. Finally, Hantz Financial Services Inc. purchased a new stake in Tenet Healthcare in the 3rd quarter valued at approximately $83,000. Institutional investors and hedge funds own 95.44% of the company’s stock.

Tenet Healthcare Stock Performance

Shares of THC stock opened at $139.93 on Wednesday. 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 Co. has a 52 week low of $82.15 and a 52 week high of $171.20. The company has a market cap of $13.31 billion, a PE ratio of 4.48, a P/E/G ratio of 0.60 and a beta of 2.06. The company’s fifty day simple moving average is $134.38 and its 200-day simple moving average is $148.30.

Tenet Healthcare (NYSE:THC) last released its quarterly 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. Tenet Healthcare had a return on equity of 24.05% and a net margin of 14.91%. The firm had revenue of $5.12 billion during the quarter, compared to analysts’ expectations of $5.05 billion. During the same quarter in the prior year, the business earned $1.44 EPS. Tenet Healthcare’s quarterly revenue was up 1.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Tenet Healthcare Co. will post 11.37 EPS for the current year.

Insider Buying and Selling at Tenet Healthcare

In related news, EVP Lisa Y. Foo sold 4,000 shares of the business’s stock in a transaction dated Thursday, October 31st. The stock was 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 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 filing with the Securities & Exchange Commission, which is available through this link. 0.93% of the stock is owned by insiders.

Analyst Ratings Changes

THC has been the subject of several recent analyst reports. Wells Fargo & Company cut Tenet Healthcare from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $205.00 to $150.00 in a report on Monday, November 25th. StockNews.com lowered shares of Tenet Healthcare from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, December 17th. UBS Group raised their price objective on shares of Tenet Healthcare from $197.00 to $217.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Cantor Fitzgerald increased their target price on shares of Tenet Healthcare from $168.00 to $177.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Finally, Royal Bank of Canada boosted their price target on Tenet Healthcare from $174.00 to $183.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Three research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $165.00.

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.