Tenet Healthcare Co. (NYSE:THC) Shares Sold by Sunbelt Securities Inc.

Sunbelt Securities Inc. cut its position in Tenet Healthcare Co. (NYSE:THC) by 75.5% during the 3rd quarter, HoldingsChannel reports. The firm owned 174 shares of the company’s stock after selling 536 shares during the quarter. Sunbelt Securities Inc.’s holdings in Tenet Healthcare were worth $29,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of THC. Coldstream Capital Management Inc. boosted its position in shares of Tenet Healthcare by 2.2% during the third quarter. Coldstream Capital Management Inc. now owns 3,406 shares of the company’s stock worth $566,000 after buying an additional 74 shares during the period. Optas LLC raised its stake in 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 acquiring an additional 93 shares in the last quarter. Signaturefd LLC grew its stake in shares of Tenet Healthcare by 17.6% in the third quarter. Signaturefd LLC now owns 628 shares of the company’s stock worth $104,000 after purchasing an additional 94 shares in the last quarter. CIBC Asset Management Inc raised its stake in shares of Tenet Healthcare by 3.4% during the third quarter. CIBC Asset Management Inc now owns 2,887 shares of the company’s stock valued at $480,000 after purchasing an additional 94 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in Tenet Healthcare by 20.7% in the second quarter. EverSource Wealth Advisors LLC now owns 560 shares of the company’s stock worth $74,000 after purchasing an additional 96 shares during the period. Institutional investors own 95.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on THC shares. Barclays upped their price target 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. KeyCorp started coverage on Tenet Healthcare in a research report on Friday, October 11th. They set an “overweight” rating and a $200.00 price target on the stock. Cantor Fitzgerald raised their target price on Tenet Healthcare from $168.00 to $177.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Royal Bank of Canada upped 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. Finally, The Goldman Sachs Group increased their target price on shares of Tenet Healthcare from $173.00 to $196.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $168.19.

Insider Buying and Selling

In other 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 value of $623,760.00. Following the completion of 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.93% of the stock is currently owned by corporate insiders.

Tenet Healthcare Trading Up 1.0 %

Shares of NYSE:THC opened at $136.71 on Monday. Tenet Healthcare Co. has a 12-month low of $73.21 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 firm has a market capitalization of $13.00 billion, a P/E ratio of 4.38, a price-to-earnings-growth ratio of 0.63 and a beta of 2.06. The firm has a fifty day moving average of $152.09 and a two-hundred day moving average of $149.38.

Tenet Healthcare (NYSE:THC) last posted 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 the consensus estimate of $5.05 billion. During the same period last year, the business earned $1.44 EPS. The business’s quarterly revenue was up 1.1% on a year-over-year basis. On average, equities analysts expect that Tenet Healthcare Co. will post 11.38 EPS for the current fiscal year.

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.