Algert Global LLC Sells 1,087 Shares of Tenet Healthcare Co. (NYSE:THC)

Algert Global LLC lessened its stake in shares of Tenet Healthcare Co. (NYSE:THC) by 1.7% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 61,269 shares of the company’s stock after selling 1,087 shares during the period. Algert Global LLC owned 0.06% of Tenet Healthcare worth $10,183,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of THC. Legacy Capital Group California Inc. bought a new position in shares of Tenet Healthcare during the 3rd quarter worth about $1,055,000. Diversified Trust Co acquired a new stake in Tenet Healthcare in the second quarter valued at approximately $558,000. Envestnet Portfolio Solutions Inc. raised its position in shares of Tenet Healthcare by 124.0% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 12,787 shares of the company’s stock worth $1,701,000 after purchasing an additional 7,078 shares during the period. Caprock Group LLC bought a new position in shares of Tenet Healthcare in the 2nd quarter worth $477,000. Finally, QRG Capital Management Inc. increased its stake in Tenet Healthcare by 198.8% during the 2nd quarter. QRG Capital Management Inc. now owns 7,856 shares of the company’s stock valued at $1,045,000 after purchasing an additional 5,227 shares in the last quarter. 95.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Lisa Y. Foo sold 4,000 shares of the business’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 sale, the executive vice president now directly owns 15,566 shares in the company, valued at approximately $2,427,362.04. The trade was a 20.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 completion of the transaction, the director now owns 14,227 shares of the company’s stock, valued at approximately $2,328,533.09. This represents a 12.33 % 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 valued at $2,830,834 over the last quarter. Company insiders own 0.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on THC. Cantor Fitzgerald lifted their price objective on shares of Tenet Healthcare from $168.00 to $177.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Royal Bank of Canada boosted their price objective on Tenet Healthcare from $174.00 to $183.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. UBS Group raised their target price on Tenet Healthcare from $197.00 to $217.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Wells Fargo & Company increased their price target on Tenet Healthcare from $195.00 to $205.00 and gave the company an “overweight” rating in a research report on Wednesday, November 6th. Finally, KeyCorp assumed coverage on shares of Tenet Healthcare in a report on Friday, October 11th. They set an “overweight” rating and a $200.00 price objective on the stock. One research analyst has rated the stock with a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, Tenet Healthcare has a consensus rating of “Buy” and an average target price of $171.63.

Tenet Healthcare Trading Down 2.9 %

Shares of THC stock opened at $143.57 on Friday. Tenet Healthcare Co. has a 12-month low of $65.90 and a 12-month high of $171.20. 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 company has a 50 day moving average of $158.86 and a 200-day moving average of $147.87. The firm has a market cap of $13.65 billion, a P/E ratio of 4.60, a PEG ratio of 0.66 and a beta of 2.15.

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