Tenet Healthcare Co. (NYSE:THC) Shares Sold by Versor Investments LP

Versor Investments LP lowered its position in shares of Tenet Healthcare Co. (NYSE:THC) by 53.1% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,439 shares of the company’s stock after selling 6,161 shares during the period. Versor Investments LP’s holdings in Tenet Healthcare were worth $904,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of THC. Mirae Asset Global Investments Co. Ltd. boosted its position in Tenet Healthcare by 0.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,604 shares of the company’s stock worth $1,325,000 after acquiring an additional 90 shares during the period. Optas LLC boosted its stake in shares of Tenet Healthcare by 3.4% during the 3rd quarter. Optas LLC now owns 2,821 shares of the company’s stock worth $469,000 after acquiring 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 valued at $104,000 after acquiring an additional 94 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of Tenet Healthcare by 20.7% in the second 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 period. Finally, First Citizens Bank & Trust Co. increased its stake in Tenet Healthcare by 5.1% during the third quarter. First Citizens Bank & Trust Co. now owns 2,226 shares of the company’s stock valued at $370,000 after acquiring an additional 109 shares during the period. 95.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on THC shares. Truist Financial reiterated a “buy” rating and issued a $190.00 price objective (up from $180.00) on shares of Tenet Healthcare in a research note on Wednesday, October 30th. Raymond James lifted their target price on shares of Tenet Healthcare from $130.00 to $175.00 and gave the company a “strong-buy” rating in a research note on Thursday, July 25th. Barclays increased their price objective on shares of Tenet Healthcare from $171.00 to $190.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. UBS Group raised their price target on Tenet Healthcare from $197.00 to $217.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, Citigroup boosted their price target on shares of Tenet Healthcare from $139.00 to $171.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. One research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Tenet Healthcare presently has an average rating of “Buy” and an average target price of $165.35.

Insider Activity

In other Tenet Healthcare news, Director Richard W. Fisher sold 2,000 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $163.67, for a total value of $327,340.00. Following the completion of the sale, the director now owns 14,227 shares in the company, valued at approximately $2,328,533.09. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Tenet Healthcare news, insider R. Scott Ramsey sold 11,599 shares of the stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $162.06, for a total value of $1,879,733.94. Following the sale, the insider now directly owns 6,324 shares in the company, valued at $1,024,867.44. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Richard W. Fisher sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $163.67, for a total transaction of $327,340.00. Following the completion of the transaction, the director now owns 14,227 shares in the company, valued at approximately $2,328,533.09. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 25,976 shares of company stock worth $4,137,646 over the last three months. 0.93% of the stock is currently owned by insiders.

Tenet Healthcare Stock Performance

NYSE THC opened at $164.25 on Wednesday. Tenet Healthcare Co. has a twelve month low of $53.63 and a twelve 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 market capitalization of $15.62 billion, a price-to-earnings ratio of 5.26, a PEG ratio of 0.74 and a beta of 2.15. The stock has a fifty day simple moving average of $159.50 and a 200 day simple moving average of $146.13.

Tenet Healthcare (NYSE:THC) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $2.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.33 by $0.60. The company had revenue of $5.12 billion for the quarter, compared to the consensus estimate of $5.05 billion. Tenet Healthcare had a return on equity of 24.05% and a net margin of 14.91%. The firm’s 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. Sell-side analysts expect that Tenet Healthcare Co. will post 11.38 EPS for the current year.

Tenet Healthcare announced that its Board of Directors has authorized a stock repurchase plan on Wednesday, July 24th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the company to purchase up to 10.3% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

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.