Maven Securities LTD Purchases Shares of 2,000 Tenet Healthcare Co. (NYSE:THC)

Maven Securities LTD bought a new stake in Tenet Healthcare Co. (NYSE:THC) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 2,000 shares of the company’s stock, valued at approximately $332,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. FMR LLC boosted its holdings 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 purchasing an additional 3,604,161 shares during the period. Acadian Asset Management LLC increased its stake in shares of Tenet Healthcare by 7,223.1% during the second quarter. Acadian Asset Management LLC now owns 326,244 shares of the company’s stock valued at $43,385,000 after buying an additional 321,789 shares during the period. Iron Triangle Partners LP bought a new position in shares of Tenet Healthcare during the third quarter valued at approximately $51,346,000. Allspring Global Investments Holdings LLC increased its position in Tenet Healthcare by 344.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 317,198 shares of the company’s stock valued at $52,718,000 after purchasing an additional 245,875 shares during the period. Finally, Renaissance Technologies LLC purchased a new stake in shares of Tenet Healthcare in the 2nd quarter worth about $27,454,000. 95.44% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Lisa Y. Foo sold 4,000 shares of Tenet Healthcare stock in a transaction on Thursday, October 31st. The shares were 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 $2,427,362.04. This trade represents a 20.44 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.93% of the company’s stock.

Tenet Healthcare Stock Performance

Shares of NYSE THC opened at $138.90 on Friday. The company has a quick ratio of 1.52, a current ratio of 1.58 and a debt-to-equity ratio of 2.35. The firm’s 50-day moving average price is $155.33 and its 200-day moving average price is $148.87. Tenet Healthcare Co. has a 52-week low of $67.78 and a 52-week high of $171.20. The company has a market cap of $13.21 billion, a PE ratio of 4.45, a PEG ratio of 0.63 and a beta of 2.06.

Tenet Healthcare (NYSE:THC) last announced its earnings results on Tuesday, October 29th. The company reported $2.93 earnings per share for the quarter, beating analysts’ consensus estimates of $2.33 by $0.60. The business had revenue of $5.12 billion during the quarter, compared to analyst estimates of $5.05 billion. Tenet Healthcare had a net margin of 14.91% and a return on equity of 24.05%. The company’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.44 EPS. As a group, analysts anticipate that Tenet Healthcare Co. will post 11.38 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have weighed in on THC shares. 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 report on Friday, November 22nd. Barclays raised their price objective on Tenet Healthcare from $171.00 to $190.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Cantor Fitzgerald increased their price target on shares of Tenet Healthcare from $168.00 to $177.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. KeyCorp initiated coverage on shares of Tenet Healthcare in a research note on Friday, October 11th. They set an “overweight” rating and a $200.00 price objective on the stock. Finally, UBS Group lifted their target price on shares of Tenet Healthcare from $197.00 to $217.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Two equities 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. According to MarketBeat.com, Tenet Healthcare has an average rating of “Buy” and an average price target of $168.19.

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.