Tenet Healthcare Co. (NYSE:THC) Stake Lifted by Natixis Advisors LLC

Natixis Advisors LLC grew its position in shares of Tenet Healthcare Co. (NYSE:THC) by 19.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 39,948 shares of the company’s stock after acquiring an additional 6,491 shares during the quarter. Natixis Advisors LLC’s holdings in Tenet Healthcare were worth $6,639,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Price T Rowe Associates Inc. MD grew its stake in shares of Tenet Healthcare by 11.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,915,000 shares of the company’s stock worth $831,947,000 after purchasing an additional 790,684 shares in the last quarter. 8 Knots Management LLC increased its stake in Tenet Healthcare by 74.5% during the 1st quarter. 8 Knots Management LLC now owns 1,025,730 shares of the company’s stock valued at $107,814,000 after buying an additional 438,033 shares during the period. Acadian Asset Management LLC raised its position in shares of Tenet Healthcare by 7,223.1% during the 2nd quarter. Acadian Asset Management LLC now owns 326,244 shares of the company’s stock worth $43,385,000 after buying an additional 321,789 shares in the last quarter. Farallon Capital Management LLC boosted its holdings in shares of Tenet Healthcare by 70.1% in the first quarter. Farallon Capital Management LLC now owns 637,442 shares of the company’s stock valued at $67,002,000 after acquiring an additional 262,600 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in Tenet Healthcare by 344.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 317,198 shares of the company’s stock worth $52,718,000 after purchasing an additional 245,875 shares in the last quarter. Institutional investors own 95.44% of the company’s stock.

Insider Buying and Selling

In other Tenet Healthcare news, insider R. Scott Ramsey sold 11,599 shares of the 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 directly owns 6,324 shares of the company’s stock, valued at $1,024,867.44. This represents a 64.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Richard W. Fisher sold 2,000 shares of the company’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $163.67, for a total value of $327,340.00. Following the sale, the director now owns 14,227 shares of the company’s stock, valued at approximately $2,328,533.09. This trade represents a 12.33 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 17,599 shares of company stock worth $2,830,834. Insiders own 0.93% of the company’s stock.

Tenet Healthcare Stock Performance

THC stock opened at $143.57 on Friday. The stock has a market cap of $13.65 billion, a P/E ratio of 4.60, a P/E/G ratio of 0.69 and a beta of 2.15. The company has a debt-to-equity ratio of 2.35, a quick ratio of 1.52 and a current ratio of 1.58. The firm has a 50 day simple moving average of $158.86 and a 200 day simple moving average of $147.87. Tenet Healthcare Co. has a 52 week low of $65.90 and a 52 week high of $171.20.

Tenet Healthcare (NYSE:THC) last posted its quarterly 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. Tenet Healthcare had a net margin of 14.91% and a return on equity of 24.05%. The business had revenue of $5.12 billion for the quarter, compared to the consensus estimate of $5.05 billion. During the same period in the prior year, the business posted $1.44 earnings per share. Tenet Healthcare’s revenue for the quarter was up 1.1% compared to the same quarter last year. Research analysts anticipate that Tenet Healthcare Co. will post 11.38 earnings per share for the current fiscal year.

Analysts Set New Price Targets

THC has been the topic of several research analyst reports. Wells Fargo & Company lifted their price target on Tenet Healthcare from $195.00 to $205.00 and gave the company an “overweight” rating in a research report on Wednesday, November 6th. UBS Group upped their price target on shares of Tenet Healthcare from $197.00 to $217.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Cantor Fitzgerald lifted their price objective on shares of Tenet Healthcare from $168.00 to $177.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. KeyCorp initiated coverage on shares of Tenet Healthcare in a report on Friday, October 11th. They set an “overweight” rating and a $200.00 target price for the company. Finally, Truist Financial reiterated a “buy” rating and set a $190.00 price objective (up previously from $180.00) on shares of Tenet Healthcare in a research report on Wednesday, October 30th. One research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target 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.