Tidal Investments LLC Sells 4,350 Shares of Tenet Healthcare Co. (NYSE:THC)

Tidal Investments LLC reduced its position in Tenet Healthcare Co. (NYSE:THC) by 17.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,838 shares of the company’s stock after selling 4,350 shares during the period. Tidal Investments LLC’s holdings in Tenet Healthcare were worth $3,463,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Innealta Capital LLC purchased a new stake in shares of Tenet Healthcare during the 2nd quarter valued at about $28,000. Plato Investment Management Ltd purchased a new stake in Tenet Healthcare during the third quarter valued at approximately $28,000. ORG Wealth Partners LLC bought a new position in Tenet Healthcare in the third quarter worth approximately $30,000. ORG Partners LLC bought a new stake in shares of Tenet Healthcare during the 2nd quarter valued at $31,000. Finally, Blue Trust Inc. increased its stake in shares of Tenet Healthcare by 93.0% in the 2nd quarter. Blue Trust Inc. now owns 249 shares of the company’s stock worth $33,000 after purchasing an additional 120 shares in the last quarter. Hedge funds and other institutional investors own 95.44% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on THC. KeyCorp began coverage on Tenet Healthcare in a research report on Friday, October 11th. They issued an “overweight” rating and a $200.00 price target for the company. Royal Bank of Canada lifted their price target on shares of Tenet Healthcare from $174.00 to $183.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Cantor Fitzgerald raised their price objective on shares of Tenet Healthcare from $168.00 to $177.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. UBS Group upped their target price on shares of Tenet Healthcare from $197.00 to $217.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, The Goldman Sachs Group raised their price target on Tenet Healthcare from $173.00 to $196.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Two 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $168.19.

Insider Buying and Selling at Tenet Healthcare

In other Tenet Healthcare news, EVP Lisa Y. Foo sold 4,000 shares of the business’s 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. The trade was a 20.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.93% of the company’s stock.

Tenet Healthcare Stock Up 1.0 %

Shares of THC opened at $136.71 on Friday. The business’s 50 day simple moving average is $152.09 and its 200-day simple moving average is $149.26. Tenet Healthcare Co. has a 1 year low of $73.21 and a 1 year high of $171.20. The company has a debt-to-equity ratio of 2.35, a current ratio of 1.58 and a quick ratio of 1.52. The stock has a market capitalization of $13.00 billion, a price-to-earnings ratio of 4.38, a price-to-earnings-growth ratio of 0.63 and a beta of 2.06.

Tenet Healthcare (NYSE:THC) last released its quarterly earnings data on Tuesday, October 29th. The company reported $2.93 EPS for the quarter, beating the consensus estimate 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%. Tenet Healthcare’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter last year, the business earned $1.44 earnings per share. As a group, equities analysts expect that Tenet Healthcare Co. will post 11.38 earnings per share for the current fiscal year.

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.