Hantz Financial Services Inc. Takes $83,000 Position in Tenet Healthcare Co. (NYSE:THC)

Hantz Financial Services Inc. acquired a new stake in shares of Tenet Healthcare Co. (NYSE:THC) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 498 shares of the company’s stock, valued at approximately $83,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of THC. FMR LLC lifted its holdings in Tenet Healthcare by 88.0% in the third quarter. FMR LLC now owns 7,700,693 shares of the company’s stock valued at $1,279,855,000 after acquiring an additional 3,604,161 shares during the period. Acadian Asset Management LLC boosted its holdings in shares of Tenet Healthcare by 7,223.1% in the second 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 during the last quarter. Allspring Global Investments Holdings LLC increased 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 valued at $52,718,000 after buying an additional 245,875 shares during the last quarter. Renaissance Technologies LLC purchased a new position in shares of Tenet Healthcare during the 2nd quarter worth $27,454,000. Finally, AQR Capital Management LLC grew its position in shares of Tenet Healthcare by 35.2% during the 2nd quarter. AQR Capital Management LLC now owns 341,250 shares of the company’s stock valued at $45,396,000 after acquiring an additional 88,781 shares during the period. 95.44% of the stock is owned by institutional investors.

Insider Transactions at Tenet Healthcare

In other news, EVP Lisa Y. Foo sold 4,000 shares of the firm’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 in the company, valued at approximately $2,427,362.04. This trade represents a 20.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider R. Scott Ramsey sold 11,599 shares of the 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 transaction, the insider now owns 6,324 shares in the company, valued at approximately $1,024,867.44. The trade was a 64.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.93% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on THC. Raymond James downgraded 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. Wells Fargo & Company downgraded Tenet Healthcare from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $205.00 to $150.00 in a research note on Monday, November 25th. Barclays lifted their price target 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. KeyCorp began coverage on shares of Tenet Healthcare in a research note on Friday, October 11th. They set an “overweight” rating and a $200.00 target price on the stock. Finally, UBS Group increased 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 equities research 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 company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $168.19.

Tenet Healthcare Trading Down 0.5 %

THC opened at $141.95 on Tuesday. Tenet Healthcare Co. has a one year low of $67.78 and a one year high of $171.20. 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 $13.50 billion, a price-to-earnings ratio of 4.55, a P/E/G ratio of 0.64 and a beta of 2.15. The stock’s 50 day moving average price is $156.87 and its 200-day moving average price is $148.73.

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