Great Valley Advisor Group Inc. Takes $231,000 Position in Tenet Healthcare Co. (NYSE:THC)

Great Valley Advisor Group Inc. acquired a new stake in Tenet Healthcare Co. (NYSE:THC) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,388 shares of the company’s stock, valued at approximately $231,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in THC. Raymond James Trust N.A. increased its position in Tenet Healthcare by 32.6% during the 3rd quarter. Raymond James Trust N.A. now owns 4,087 shares of the company’s stock worth $679,000 after purchasing an additional 1,005 shares in the last quarter. Eagle Asset Management Inc. raised its position in shares of Tenet Healthcare by 78.0% in the third quarter. Eagle Asset Management Inc. now owns 66,605 shares of the company’s stock valued at $11,004,000 after buying an additional 29,190 shares during the last quarter. Intech Investment Management LLC boosted its position in 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 acquiring an additional 24,385 shares during the last quarter. Moran Wealth Management LLC raised its holdings in Tenet Healthcare by 7.9% in the 3rd 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 last quarter. Finally, First Horizon Advisors Inc. lifted its stake in shares of Tenet Healthcare by 12.1% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,180 shares of the company’s stock worth $196,000 after purchasing an additional 127 shares during the period. Institutional investors and hedge funds own 95.44% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. KeyCorp started coverage on Tenet Healthcare in a research report on Friday, October 11th. They set an “overweight” rating and a $200.00 target price on the stock. Raymond James lowered 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. 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. Royal Bank of Canada lifted their price objective on shares of Tenet Healthcare from $174.00 to $183.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, UBS Group lifted their price target on Tenet Healthcare from $197.00 to $217.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Two 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 company. According to data from MarketBeat.com, Tenet Healthcare presently has a consensus rating of “Buy” and an average target price of $168.19.

Insider Activity at Tenet Healthcare

In other Tenet Healthcare news, insider R. Scott Ramsey sold 11,599 shares of the firm’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $162.06, for a total transaction of $1,879,733.94. Following the completion of the sale, the insider now directly owns 6,324 shares in the company, valued at approximately $1,024,867.44. This trade represents a 64.72 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 completion of the transaction, the executive vice president now directly owns 15,566 shares in the company, valued at $2,427,362.04. This trade represents a 20.44 % 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 Trading Down 2.5 %

Shares of NYSE:THC opened at $141.94 on Thursday. Tenet Healthcare Co. has a fifty-two week low of $65.90 and a fifty-two week high of $171.20. The company has a market cap of $13.50 billion, a PE ratio of 4.59, a P/E/G ratio of 0.64 and a beta of 2.15. The company’s 50-day moving average price is $158.21 and its 200 day moving average price is $148.45. The company has a quick ratio of 1.52, a current ratio of 1.58 and a debt-to-equity ratio of 2.35.

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

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.