Quest Partners LLC Sells 1,645 Shares of Tenet Healthcare Co. (NYSE:THC)

Quest Partners LLC reduced its position in Tenet Healthcare Co. (NYSE:THC) by 30.0% in the 3rd quarter, Holdings Channel reports. The firm owned 3,834 shares of the company’s stock after selling 1,645 shares during the quarter. Quest Partners LLC’s holdings in Tenet Healthcare were worth $637,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Optas LLC boosted its position in shares of Tenet Healthcare by 3.4% during the 3rd quarter. Optas LLC now owns 2,821 shares of the company’s stock valued at $469,000 after acquiring an additional 93 shares in the last quarter. Signaturefd LLC grew its stake in shares of Tenet Healthcare by 17.6% in the 3rd quarter. Signaturefd LLC now owns 628 shares of the company’s stock valued at $104,000 after purchasing an additional 94 shares during the period. CIBC Asset Management Inc lifted its position in shares of Tenet Healthcare by 3.4% during the 3rd quarter. CIBC Asset Management Inc now owns 2,887 shares of the company’s stock worth $480,000 after buying an additional 94 shares during the period. EverSource Wealth Advisors LLC grew its position in Tenet Healthcare by 20.7% in the second quarter. EverSource Wealth Advisors LLC now owns 560 shares of the company’s stock valued at $74,000 after acquiring an additional 96 shares during the period. Finally, First Citizens Bank & Trust Co. lifted its holdings in shares of Tenet Healthcare by 5.1% during the third quarter. First Citizens Bank & Trust Co. now owns 2,226 shares of the company’s stock valued at $370,000 after acquiring an additional 109 shares during the period. Institutional investors own 95.44% of the company’s stock.

Insider Activity at Tenet Healthcare

In related news, EVP Lisa Y. Foo sold 4,000 shares of the company’s stock in a transaction on 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 transaction, the executive vice president now directly owns 15,566 shares of the company’s stock, valued at approximately $2,427,362.04. This represents a 20.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider R. Scott Ramsey sold 11,599 shares of the business’s stock in a transaction dated 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 completion of the sale, the insider now owns 6,324 shares in the company, valued at approximately $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. Insiders sold a total of 17,599 shares of company stock worth $2,830,834 in the last quarter. Corporate insiders own 0.93% of the company’s stock.

Tenet Healthcare Stock Down 2.9 %

Shares of Tenet Healthcare stock opened at $143.57 on Friday. Tenet Healthcare Co. has a 12 month low of $65.90 and a 12 month high of $171.20. The business has a fifty day simple moving average of $158.86 and a 200 day simple moving average of $147.87. The company has a quick ratio of 1.52, a current ratio of 1.58 and a debt-to-equity ratio of 2.35. The stock has a market cap of $13.65 billion, a PE ratio of 4.60, a price-to-earnings-growth ratio of 0.69 and a beta of 2.15.

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

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Cantor Fitzgerald increased their target price on shares of Tenet Healthcare from $168.00 to $177.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Wells Fargo & Company boosted their target price on Tenet Healthcare from $195.00 to $205.00 and gave the stock an “overweight” rating in a report on Wednesday, November 6th. The Goldman Sachs Group lifted their price objective on Tenet Healthcare from $173.00 to $196.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. UBS Group increased their target price on Tenet Healthcare from $197.00 to $217.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, Raymond James downgraded shares of Tenet Healthcare from a “strong-buy” rating to an “outperform” rating and set a $195.00 price target on the stock. in a research report on Friday. One research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, Tenet Healthcare currently has an average rating of “Buy” and a consensus target price of $171.63.

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.