Quantbot Technologies LP Sells 3,618 Shares of Tenet Healthcare Co. (NYSE:THC)

Quantbot Technologies LP reduced its holdings in Tenet Healthcare Co. (NYSE:THC) by 13.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,120 shares of the company’s stock after selling 3,618 shares during the quarter. Quantbot Technologies LP’s holdings in Tenet Healthcare were worth $3,843,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. Optas LLC increased its holdings in shares of Tenet Healthcare by 3.4% in the third quarter. Optas LLC now owns 2,821 shares of the company’s stock worth $469,000 after acquiring an additional 93 shares in the last quarter. Signaturefd LLC grew its holdings in shares of Tenet Healthcare by 17.6% during the third quarter. Signaturefd LLC now owns 628 shares of the company’s stock worth $104,000 after buying an additional 94 shares in the last quarter. CIBC Asset Management Inc grew its holdings in shares of Tenet Healthcare by 3.4% during the third quarter. CIBC Asset Management Inc now owns 2,887 shares of the company’s stock worth $480,000 after buying an additional 94 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Tenet Healthcare by 20.7% during the second quarter. EverSource Wealth Advisors LLC now owns 560 shares of the company’s stock worth $74,000 after buying an additional 96 shares in the last quarter. Finally, First Citizens Bank & Trust Co. grew its holdings in shares of Tenet Healthcare by 5.1% during the third quarter. First Citizens Bank & Trust Co. now owns 2,226 shares of the company’s stock worth $370,000 after buying an additional 109 shares in the last quarter. 95.44% of the stock is currently owned by institutional investors.

Tenet Healthcare Price Performance

Tenet Healthcare stock opened at $145.59 on Wednesday. The stock has a market capitalization of $13.85 billion, a P/E ratio of 4.66, a price-to-earnings-growth ratio of 0.64 and a beta of 2.15. Tenet Healthcare Co. has a 52 week low of $65.90 and a 52 week 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 fifty day moving average of $158.44 and a 200-day moving average of $148.32.

Tenet Healthcare (NYSE:THC) last released its quarterly earnings results on Tuesday, October 29th. The company reported $2.93 EPS for the quarter, beating analysts’ consensus estimates of $2.33 by $0.60. Tenet Healthcare had a return on equity of 24.05% and a net margin of 14.91%. The firm had revenue of $5.12 billion for the quarter, compared to analyst estimates of $5.05 billion. During the same quarter in the previous year, the company posted $1.44 EPS. The business’s revenue was up 1.1% on a year-over-year basis. On average, sell-side 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 recently issued reports on THC. Raymond James downgraded Tenet Healthcare from a “strong-buy” rating to an “outperform” rating and set a $195.00 price objective for the company. in a report on Friday, November 22nd. Royal Bank of Canada increased their price target on Tenet Healthcare from $174.00 to $183.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. KeyCorp assumed coverage on Tenet Healthcare in a research report on Friday, October 11th. They set an “overweight” rating and a $200.00 price target for the company. The Goldman Sachs Group increased their price target on Tenet Healthcare from $173.00 to $196.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, Barclays increased their price target on Tenet Healthcare from $171.00 to $190.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $168.19.

Insider Transactions at Tenet Healthcare

In other Tenet Healthcare news, EVP Lisa Y. Foo sold 4,000 shares of the 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 of the company’s stock, valued at approximately $2,427,362.04. This represents a 20.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider R. Scott Ramsey sold 11,599 shares of the firm’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $162.06, for a total value of $1,879,733.94. Following the completion of the transaction, the insider now directly owns 6,324 shares of the company’s stock, valued at $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. Company insiders own 0.93% of the company’s stock.

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.