Intech Investment Management LLC Purchases 24,385 Shares of Tenet Healthcare Co. (NYSE:THC)

Intech Investment Management LLC grew its position in Tenet Healthcare Co. (NYSE:THC) by 44.4% in the third quarter, HoldingsChannel.com reports. The fund owned 79,266 shares of the company’s stock after buying an additional 24,385 shares during the period. Intech Investment Management LLC’s holdings in Tenet Healthcare were worth $13,174,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of THC. Price T Rowe Associates Inc. MD increased its position in Tenet Healthcare by 11.1% during 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 buying an additional 790,684 shares during the last quarter. 8 Knots Management LLC raised its stake in Tenet Healthcare by 74.5% in the 1st quarter. 8 Knots Management LLC now owns 1,025,730 shares of the company’s stock valued at $107,814,000 after acquiring an additional 438,033 shares during the period. Marshall Wace LLP boosted its position in Tenet Healthcare by 7.3% during the second quarter. Marshall Wace LLP now owns 713,979 shares of the company’s stock worth $94,981,000 after purchasing an additional 48,626 shares during the period. Farallon Capital Management LLC raised its position in shares of Tenet Healthcare by 7.8% in the second quarter. Farallon Capital Management LLC now owns 687,442 shares of the company’s stock valued at $91,450,000 after purchasing an additional 50,000 shares during the period. Finally, Integral Health Asset Management LLC boosted its holdings in shares of Tenet Healthcare by 17.6% during the 2nd quarter. Integral Health Asset Management LLC now owns 500,000 shares of the company’s stock worth $66,515,000 after buying an additional 75,000 shares during the period. 95.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Tenet Healthcare

In related news, Director Richard W. Fisher sold 2,000 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $163.67, for a total value of $327,340.00. Following the completion of the sale, the director now directly owns 14,227 shares in the company, valued at $2,328,533.09. This represents a 12.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Lisa Y. Foo sold 4,000 shares of the company’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $155.94, for a total value of $623,760.00. Following the completion of the sale, the executive vice president now owns 15,566 shares in the company, valued at $2,427,362.04. This trade represents a 20.44 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, 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 Down 2.5 %

THC stock opened at $147.99 on Friday. The stock has a market capitalization of $14.07 billion, a P/E ratio of 4.74, a price-to-earnings-growth ratio of 0.69 and a beta of 2.15. The company has a current ratio of 1.58, a quick ratio of 1.52 and a debt-to-equity ratio of 2.35. The firm has a 50-day moving average price of $159.24 and a 200-day moving average price of $147.72. Tenet Healthcare Co. has a 12 month low of $65.90 and a 12 month high of $171.20.

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

Wall Street Analyst Weigh In

THC has been the subject of several research reports. Truist Financial restated a “buy” rating and set a $190.00 price objective (up from $180.00) on shares of Tenet Healthcare in a research report on Wednesday, October 30th. The Goldman Sachs Group increased their price objective on Tenet Healthcare from $173.00 to $196.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Raymond James upped their price target on shares of Tenet Healthcare from $130.00 to $175.00 and gave the company a “strong-buy” rating in a research note on Thursday, July 25th. Cantor Fitzgerald boosted their price objective on shares of Tenet Healthcare from $168.00 to $177.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Finally, KeyCorp started 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 for the company. One analyst has rated the stock with a hold rating, thirteen have issued a buy rating and four have issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $170.38.

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.