Tenet Healthcare Co. (NYSE:THC) Shares Purchased by Zacks Investment Management

Zacks Investment Management raised its position in shares of Tenet Healthcare Co. (NYSE:THC) by 10.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 20,127 shares of the company’s stock after purchasing an additional 1,980 shares during the quarter. Zacks Investment Management’s holdings in Tenet Healthcare were worth $3,345,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of THC. EP Wealth Advisors LLC purchased a new position in Tenet Healthcare during the 3rd quarter worth approximately $231,000. Worldquant Millennium Advisors LLC acquired a new stake in shares of Tenet Healthcare in the third quarter worth $1,821,000. Weiss Asset Management LP lifted its position in Tenet Healthcare by 8.7% during the third quarter. Weiss Asset Management LP now owns 52,361 shares of the company’s stock valued at $8,702,000 after purchasing an additional 4,207 shares during the period. SYM FINANCIAL Corp acquired a new stake in Tenet Healthcare during the 3rd quarter worth about $209,000. Finally, Quantinno Capital Management LP raised its stake in shares of Tenet Healthcare by 40.6% during the 3rd quarter. Quantinno Capital Management LP now owns 40,672 shares of the company’s stock valued at $6,760,000 after buying an additional 11,749 shares during the last quarter. 95.44% of the stock is currently owned by hedge funds and other institutional investors.

Tenet Healthcare Stock Performance

NYSE:THC opened at $138.94 on Monday. Tenet Healthcare Co. has a twelve month low of $67.78 and a twelve month high of $171.20. The company has a market cap of $13.21 billion, a P/E ratio of 4.45, a P/E/G ratio of 0.62 and a beta of 2.06. 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 company’s 50-day moving average price is $154.32 and its 200-day moving average price is $149.11.

Tenet Healthcare (NYSE:THC) last issued 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. Tenet Healthcare had a return on equity of 24.05% and a net margin of 14.91%. The business 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 firm posted $1.44 EPS. The business’s revenue for the quarter was up 1.1% compared to the same quarter last year. On average, sell-side analysts forecast 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 analyst reports. The Goldman Sachs Group raised their target price on Tenet Healthcare from $173.00 to $196.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Raymond James cut shares of Tenet Healthcare from a “strong-buy” rating to an “outperform” rating and set a $195.00 target price for the company. in a research note on Friday, November 22nd. KeyCorp assumed coverage on Tenet Healthcare in a research report on Friday, October 11th. They set an “overweight” rating and a $200.00 target price on the stock. UBS Group upped their price target on Tenet Healthcare from $197.00 to $217.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, Royal Bank of Canada boosted their price objective on Tenet Healthcare from $174.00 to $183.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $168.19.

Insiders Place Their Bets

In other Tenet Healthcare 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 completion of the sale, the executive vice president now owns 15,566 shares of the company’s stock, valued at $2,427,362.04. This trade represents a 20.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate 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.