Pathstone Holdings LLC Raises Stake in Tenet Healthcare Co. (NYSE:THC)

Pathstone Holdings LLC lifted its holdings in Tenet Healthcare Co. (NYSE:THC) by 2.7% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 8,973 shares of the company’s stock after acquiring an additional 233 shares during the quarter. Pathstone Holdings LLC’s holdings in Tenet Healthcare were worth $1,491,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in THC. Plato Investment Management Ltd purchased a new position in shares of Tenet Healthcare in the third quarter worth about $28,000. ORG Wealth Partners LLC purchased a new stake in shares of Tenet Healthcare during the third quarter valued at approximately $30,000. Financial Management Professionals Inc. raised its holdings in Tenet Healthcare by 2,222.2% during the 3rd quarter. Financial Management Professionals Inc. now owns 209 shares of the company’s stock valued at $35,000 after buying an additional 200 shares during the last quarter. Innealta Capital LLC purchased a new stake in Tenet Healthcare during the 2nd quarter valued at $28,000. Finally, ORG Partners LLC purchased a new position in shares of Tenet Healthcare in the second quarter valued at about $31,000. Institutional investors own 95.44% of the company’s stock.

Insider Buying and Selling at Tenet Healthcare

In related news, EVP Lisa Y. Foo sold 4,000 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president now owns 15,566 shares in the company, valued at approximately $2,427,362.04. This trade represents a 20.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 sale, the insider now owns 6,324 shares of the company’s stock, valued at approximately $1,024,867.44. This represents a 64.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.93% of the company’s stock.

Tenet Healthcare Price Performance

Shares of NYSE:THC opened at $141.98 on Friday. The company has a market capitalization of $13.50 billion, a PE ratio of 4.55, a PEG ratio of 0.64 and a beta of 2.15. The business has a fifty day moving average price of $157.82 and a 200-day moving average price of $148.41. Tenet Healthcare Co. has a 1-year low of $65.90 and a 1-year high of $171.20. 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 issued its earnings results on Tuesday, October 29th. The company reported $2.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.33 by $0.60. The business had revenue of $5.12 billion during the quarter, compared to analysts’ expectations of $5.05 billion. Tenet Healthcare had a net margin of 14.91% and a return on equity of 24.05%. The business’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 company earned $1.44 earnings per share. As a group, equities analysts expect that Tenet Healthcare Co. will post 11.38 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on THC. KeyCorp initiated coverage on Tenet Healthcare in a research note on Friday, October 11th. They issued an “overweight” rating and a $200.00 target price on the stock. Cantor Fitzgerald lifted their price objective on Tenet Healthcare from $168.00 to $177.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Raymond James lowered Tenet Healthcare from a “strong-buy” rating to an “outperform” rating and set a $195.00 price target for the company. in a research note on Friday, November 22nd. UBS Group upped their price objective on shares of Tenet Healthcare from $197.00 to $217.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, Wells Fargo & Company cut shares of 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 research report on Monday. Two research 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. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average 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.