Stifel Financial Corp Trims Holdings in Tenet Healthcare Co. (NYSE:THC)

Stifel Financial Corp cut its stake in Tenet Healthcare Co. (NYSE:THC) by 5.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,777 shares of the company’s stock after selling 1,541 shares during the period. Stifel Financial Corp’s holdings in Tenet Healthcare were worth $4,783,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Innealta Capital LLC bought a new position in shares of Tenet Healthcare during the second quarter worth about $28,000. Plato Investment Management Ltd acquired a new stake in Tenet Healthcare during the third quarter valued at approximately $28,000. ORG Wealth Partners LLC acquired a new position in shares of Tenet Healthcare in the 3rd quarter worth approximately $30,000. Blue Trust Inc. raised its position in shares of Tenet Healthcare by 93.0% during the 2nd quarter. Blue Trust Inc. now owns 249 shares of the company’s stock valued at $33,000 after acquiring an additional 120 shares in the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC bought a new position in Tenet Healthcare during the second quarter worth $34,000. 95.44% of the stock is owned by institutional investors and hedge funds.

Tenet Healthcare Stock Up 1.0 %

Shares of THC stock opened at $136.71 on Monday. 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 stock has a market cap of $13.00 billion, a PE ratio of 4.38, a price-to-earnings-growth ratio of 0.63 and a beta of 2.06. The business’s fifty day moving average is $152.09 and its 200-day moving average is $149.38. Tenet Healthcare Co. has a 1 year low of $73.21 and a 1 year high of $171.20.

Tenet Healthcare (NYSE:THC) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $2.93 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $5.05 billion. During the same period in the previous year, the business earned $1.44 earnings per share. Tenet Healthcare’s revenue for the quarter was up 1.1% compared to the same quarter last year. Equities analysts expect that Tenet Healthcare Co. will post 11.38 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on THC. KeyCorp began coverage on shares of Tenet Healthcare in a research report on Friday, October 11th. They issued an “overweight” rating and a $200.00 price target on the stock. Wells Fargo & Company downgraded Tenet Healthcare from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $205.00 to $150.00 in a research note on Monday, November 25th. Truist Financial reissued a “buy” rating and issued a $190.00 price target (up previously from $180.00) on shares of Tenet Healthcare in a report on Wednesday, October 30th. UBS Group upped their price objective on Tenet Healthcare from $197.00 to $217.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, The Goldman Sachs Group boosted their price target on shares of Tenet Healthcare from $173.00 to $196.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $168.19.

Insider Buying and Selling at Tenet Healthcare

In other Tenet Healthcare news, EVP Lisa Y. Foo sold 4,000 shares of the business’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $155.94, for a total transaction 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. The trade was a 20.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.93% of the stock is owned by corporate insiders.

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.