Captrust Financial Advisors Has $456,000 Stock Holdings in Tenet Healthcare Co. (NYSE:THC)

Captrust Financial Advisors increased its holdings in shares of Tenet Healthcare Co. (NYSE:THC) by 80.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,747 shares of the company’s stock after buying an additional 1,227 shares during the period. Captrust Financial Advisors’ holdings in Tenet Healthcare were worth $456,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on THC. Cantor Fitzgerald boosted their price objective on Tenet Healthcare from $168.00 to $177.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Truist Financial reissued a “buy” rating and issued a $190.00 price target (up from $180.00) on shares of Tenet Healthcare in a research note on Wednesday, October 30th. Royal Bank of Canada boosted their target price 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. Raymond James downgraded shares of Tenet Healthcare from a “strong-buy” rating to an “outperform” rating and set a $195.00 target price on the stock. in a research report on Friday, November 22nd. Finally, Barclays upped their price objective on shares of Tenet Healthcare from $171.00 to $190.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Two investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $168.19.

Insider Buying and Selling at Tenet Healthcare

In other news, EVP Lisa Y. Foo sold 4,000 shares of the company’s stock in a transaction on Thursday, October 31st. The stock was 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 of the company’s stock, valued at $2,427,362.04. This represents a 20.44 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.93% of the company’s stock.

Tenet Healthcare Stock Down 3.4 %

Tenet Healthcare stock opened at $135.38 on Friday. Tenet Healthcare Co. has a fifty-two week low of $71.08 and a fifty-two week high of $171.20. The firm’s 50-day simple moving average is $152.48 and its 200 day simple moving average is $149.09. The stock has a market cap of $12.87 billion, a PE ratio of 4.34, a price-to-earnings-growth ratio of 0.62 and a beta of 2.06. The company has a debt-to-equity ratio of 2.35, a quick ratio of 1.52 and a current ratio of 1.58.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings data 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 business had revenue of $5.12 billion for the quarter, compared to analysts’ expectations of $5.05 billion. During the same quarter in the previous year, the firm earned $1.44 earnings per share. The business’s revenue 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 fiscal year.

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.