Tenet Healthcare Co. (NYSE:THC) Shares Purchased by First Horizon Advisors Inc.

First Horizon Advisors Inc. lifted its stake in shares of Tenet Healthcare Co. (NYSE:THC) by 12.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,180 shares of the company’s stock after acquiring an additional 127 shares during the quarter. First Horizon Advisors Inc.’s holdings in Tenet Healthcare were worth $196,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Optas LLC boosted its position in shares of Tenet Healthcare by 3.4% during the 3rd quarter. Optas LLC now owns 2,821 shares of the company’s stock valued at $469,000 after purchasing an additional 93 shares in the last quarter. Signaturefd LLC boosted its holdings in 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 increased its holdings in shares of Tenet Healthcare by 3.4% in the third quarter. CIBC Asset Management Inc now owns 2,887 shares of the company’s stock valued at $480,000 after buying an additional 94 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Tenet Healthcare by 20.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 560 shares of the company’s stock valued at $74,000 after acquiring an additional 96 shares during the last quarter. Finally, First Citizens Bank & Trust Co. grew its holdings in shares of Tenet Healthcare by 5.1% in the 3rd quarter. First Citizens Bank & Trust Co. now owns 2,226 shares of the company’s stock worth $370,000 after acquiring an additional 109 shares during the last quarter. Institutional investors own 95.44% of the company’s stock.

Tenet Healthcare Stock Performance

Shares of THC opened at $143.63 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. Tenet Healthcare Co. has a 12 month low of $65.90 and a 12 month high of $171.20. The company’s fifty day moving average is $158.86 and its 200-day moving average is $148.04. The firm has a market cap of $13.66 billion, a price-to-earnings ratio of 4.60, a price-to-earnings-growth ratio of 0.66 and a beta of 2.15.

Tenet Healthcare (NYSE:THC) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $2.93 earnings per share for the quarter, topping 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 company had revenue of $5.12 billion during the quarter, compared to analysts’ expectations of $5.05 billion. During the same quarter in the previous year, the firm earned $1.44 earnings per share. The business’s quarterly revenue was up 1.1% compared to the same quarter last year. Equities analysts expect that Tenet Healthcare Co. will post 11.38 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. KeyCorp assumed 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. Cantor Fitzgerald lifted their target price on shares of Tenet Healthcare from $168.00 to $177.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Barclays raised their price objective on shares of Tenet Healthcare from $171.00 to $190.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Raymond James downgraded shares of Tenet Healthcare from a “strong-buy” rating to an “outperform” rating and set a $195.00 target price on the stock. in a research note on Friday. Finally, Truist Financial reiterated a “buy” rating and set a $190.00 price target (up previously from $180.00) on shares of Tenet Healthcare in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, Tenet Healthcare currently has a consensus rating of “Buy” and a consensus price target of $171.63.

Insider Buying and Selling at Tenet Healthcare

In other news, Director Richard W. Fisher sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $163.67, for a total value of $327,340.00. Following the sale, the director now directly owns 14,227 shares of the company’s stock, valued at approximately $2,328,533.09. This trade represents a 12.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Lisa Y. Foo sold 4,000 shares of the stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $155.94, for a total value of $623,760.00. Following the sale, the executive vice president now owns 15,566 shares of the company’s stock, valued at approximately $2,427,362.04. The trade was a 20.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 17,599 shares of company stock worth $2,830,834 over the last 90 days. Insiders own 0.93% of the company’s stock.

About Tenet Healthcare

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.