Raymond James Trust N.A. Buys 1,005 Shares of Tenet Healthcare Co. (NYSE:THC)

Raymond James Trust N.A. grew its stake in shares of Tenet Healthcare Co. (NYSE:THC) by 32.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,087 shares of the company’s stock after acquiring an additional 1,005 shares during the period. Raymond James Trust N.A.’s holdings in Tenet Healthcare were worth $679,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Eagle Asset Management Inc. lifted its holdings in Tenet Healthcare by 78.0% during the 3rd quarter. Eagle Asset Management Inc. now owns 66,605 shares of the company’s stock worth $11,004,000 after purchasing an additional 29,190 shares during the last quarter. Intech Investment Management LLC lifted its holdings in shares of Tenet Healthcare by 44.4% during the third quarter. Intech Investment Management LLC now owns 79,266 shares of the company’s stock worth $13,174,000 after buying an additional 24,385 shares in the last quarter. Moran Wealth Management LLC boosted its position in shares of Tenet Healthcare by 7.9% in the third quarter. Moran Wealth Management LLC now owns 2,064 shares of the company’s stock valued at $343,000 after acquiring an additional 151 shares during the period. First Horizon Advisors Inc. increased its position in Tenet Healthcare by 12.1% during the third quarter. First Horizon Advisors Inc. now owns 1,180 shares of the company’s stock worth $196,000 after acquiring an additional 127 shares during the period. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Tenet Healthcare in the 3rd quarter valued at about $1,158,000. Institutional investors own 95.44% of the company’s stock.

Tenet Healthcare Stock Performance

Shares of THC stock opened at $143.32 on Tuesday. The business’s 50-day moving average price is $158.44 and its 200-day moving average price is $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. The firm has a market capitalization of $13.63 billion, a price-to-earnings ratio of 4.59, a PEG ratio of 0.64 and a beta of 2.15.

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 analysts’ consensus estimates of $2.33 by $0.60. The firm had revenue of $5.12 billion for the quarter, compared to analyst estimates of $5.05 billion. Tenet Healthcare had a net margin of 14.91% and a return on equity of 24.05%. The company’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.44 EPS. Equities research analysts forecast that Tenet Healthcare Co. will post 11.38 EPS for the current year.

Insider Buying and Selling

In related news, insider R. Scott Ramsey sold 11,599 shares of the business’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $162.06, for a total transaction of $1,879,733.94. Following the transaction, the insider now owns 6,324 shares in the company, valued at $1,024,867.44. The trade was a 64.72 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Lisa Y. Foo sold 4,000 shares of the company’s 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 transaction, the executive vice president now owns 15,566 shares in the company, valued at $2,427,362.04. This represents a 20.44 % decrease in their position. The disclosure for this sale can be found here. 0.93% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Royal Bank of Canada lifted their price target on shares of Tenet Healthcare from $174.00 to $183.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. KeyCorp initiated coverage on Tenet Healthcare in a research report on Friday, October 11th. They set an “overweight” rating and a $200.00 target price for the company. Raymond James cut 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. UBS Group increased their price objective on shares of Tenet Healthcare from $197.00 to $217.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, Cantor Fitzgerald upped their price target on shares of Tenet Healthcare from $168.00 to $177.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $168.19.

Tenet Healthcare Company 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.