Centiva Capital LP Lowers Holdings in Tenet Healthcare Co. (NYSE:THC)

Centiva Capital LP lessened its holdings in Tenet Healthcare Co. (NYSE:THC) by 61.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,437 shares of the company’s stock after selling 16,622 shares during the period. Centiva Capital LP’s holdings in Tenet Healthcare were worth $1,735,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of THC. FMR LLC grew its position in shares of Tenet Healthcare by 88.0% during the third quarter. FMR LLC now owns 7,700,693 shares of the company’s stock worth $1,279,855,000 after buying an additional 3,604,161 shares in the last quarter. Marshall Wace LLP increased its position in shares of Tenet Healthcare by 7.3% in the 2nd quarter. Marshall Wace LLP now owns 713,979 shares of the company’s stock valued at $94,981,000 after purchasing an additional 48,626 shares during the last quarter. Farallon Capital Management LLC lifted its position in shares of Tenet Healthcare by 7.8% during the 2nd quarter. Farallon Capital Management LLC now owns 687,442 shares of the company’s stock worth $91,450,000 after purchasing an additional 50,000 shares during the last quarter. Integral Health Asset Management LLC grew its stake in shares of Tenet Healthcare by 17.6% during the second quarter. Integral Health Asset Management LLC now owns 500,000 shares of the company’s stock worth $66,515,000 after purchasing an additional 75,000 shares in the last quarter. Finally, AQR Capital Management LLC raised its stake in Tenet Healthcare by 35.2% in the second quarter. AQR Capital Management LLC now owns 341,250 shares of the company’s stock valued at $45,396,000 after buying an additional 88,781 shares in the last quarter. 95.44% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently commented on THC. Cantor Fitzgerald raised their target price on Tenet Healthcare from $168.00 to $177.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. KeyCorp initiated coverage on shares of Tenet Healthcare in a research report on Friday, October 11th. They set an “overweight” rating and a $200.00 price objective for the company. Raymond James lowered shares of Tenet Healthcare from a “strong-buy” rating to an “outperform” rating and set a $195.00 price target on the stock. in a research note on Friday, November 22nd. The Goldman Sachs Group lifted their target price on Tenet Healthcare from $173.00 to $196.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Wells Fargo & Company downgraded Tenet Healthcare from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $205.00 to $150.00 in a research note on Monday, November 25th. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $168.19.

Tenet Healthcare Stock Performance

Shares of NYSE:THC opened at $141.25 on Wednesday. The company has a debt-to-equity ratio of 2.35, a quick ratio of 1.52 and a current ratio of 1.58. Tenet Healthcare Co. has a one year low of $67.78 and a one year high of $171.20. The business’s 50-day simple moving average is $156.35 and its 200 day simple moving average is $148.83. The company has a market cap of $13.43 billion, a P/E ratio of 4.53, a PEG ratio of 0.64 and a beta of 2.06.

Tenet Healthcare (NYSE:THC) last released 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. The firm had revenue of $5.12 billion for the quarter, compared to the consensus estimate of $5.05 billion. Tenet Healthcare had a net margin of 14.91% and a return on equity of 24.05%. The firm’s quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.44 EPS. On average, sell-side analysts forecast that Tenet Healthcare Co. will post 11.38 earnings per share for the current fiscal year.

Insider Buying and Selling at Tenet Healthcare

In other news, EVP Lisa Y. Foo sold 4,000 shares of the stock in a transaction that occurred 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 sale, the executive vice president now directly owns 15,566 shares in the company, valued at approximately $2,427,362.04. This represents a 20.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider R. Scott Ramsey sold 11,599 shares of the company’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 transaction, the insider now owns 6,324 shares of the company’s stock, 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. 0.93% of the stock is currently owned by 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.