Tenet Healthcare Co. (NYSE:THC) Holdings Lowered by Centiva Capital LP

Centiva Capital LP decreased its position in shares of Tenet Healthcare Co. (NYSE:THC) by 61.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,437 shares of the company’s stock after selling 16,622 shares during the period. Centiva Capital LP’s holdings in Tenet Healthcare were worth $1,735,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Plato Investment Management Ltd bought a new stake in Tenet Healthcare in the third quarter worth about $28,000. ORG Wealth Partners LLC acquired a new stake in Tenet Healthcare during the third quarter valued at approximately $30,000. Financial Management Professionals Inc. grew its position in Tenet Healthcare by 2,222.2% in the third quarter. Financial Management Professionals Inc. now owns 209 shares of the company’s stock worth $35,000 after buying an additional 200 shares during the last quarter. Innealta Capital LLC acquired a new stake in shares of Tenet Healthcare during the 2nd quarter valued at $28,000. Finally, True Wealth Design LLC acquired a new stake in shares of Tenet Healthcare during the third quarter worth $38,000. 95.44% of the stock is currently owned by institutional investors and hedge funds.

Tenet Healthcare Trading Down 0.5 %

Tenet Healthcare stock opened at $141.25 on Wednesday. Tenet Healthcare Co. has a one year low of $67.78 and a one year high of $171.20. The company’s fifty day moving average price is $156.35 and its two-hundred day moving average price is $148.83. The company has a market capitalization of $13.43 billion, a price-to-earnings ratio of 4.53, a PEG ratio of 0.64 and a beta of 2.06. The company has a debt-to-equity ratio of 2.35, a current ratio of 1.58 and a quick ratio of 1.52.

Tenet Healthcare (NYSE:THC) last posted its earnings results on Tuesday, October 29th. The company reported $2.93 earnings per share for the quarter, topping the consensus estimate 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 analyst estimates of $5.05 billion. During the same period in the previous year, the company earned $1.44 EPS. The company’s revenue for the quarter was up 1.1% on a year-over-year basis. On average, analysts forecast that Tenet Healthcare Co. will post 11.38 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

THC has been the topic of a number of analyst reports. Truist Financial reissued a “buy” rating and issued a $190.00 price target (up previously from $180.00) on shares of Tenet Healthcare in a research note on Wednesday, October 30th. The Goldman Sachs Group upped their price target on shares of Tenet Healthcare from $173.00 to $196.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Cantor Fitzgerald boosted their target price on shares of Tenet Healthcare from $168.00 to $177.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Wells Fargo & Company cut Tenet Healthcare from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $205.00 to $150.00 in a research report on Monday, November 25th. Finally, Royal Bank of Canada increased their price objective on Tenet Healthcare from $174.00 to $183.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Two equities 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. Based on data from MarketBeat, Tenet Healthcare presently has an average rating of “Buy” and a consensus target price of $168.19.

Insider Buying and Selling

In other Tenet Healthcare news, insider R. Scott Ramsey sold 11,599 shares of the firm’s stock in a transaction on Thursday, September 5th. The shares were 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 in the company, valued at $1,024,867.44. This trade represents a 64.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Lisa Y. Foo sold 4,000 shares of the stock in a transaction dated Thursday, October 31st. The shares were 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 owns 15,566 shares of the company’s stock, valued at approximately $2,427,362.04. The trade was a 20.44 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.93% of the company’s stock.

About Tenet Healthcare

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.