Tenet Healthcare Co. (NYSE:THC) Position Increased by Intech Investment Management LLC

Intech Investment Management LLC grew its stake in shares of Tenet Healthcare Co. (NYSE:THC) by 44.4% in the third quarter, according to its most recent filing with the SEC. The fund owned 79,266 shares of the company’s stock after acquiring an additional 24,385 shares during the period. Intech Investment Management LLC owned about 0.08% of Tenet Healthcare worth $13,174,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Innealta Capital LLC acquired a new stake in shares of Tenet Healthcare during the second quarter valued at approximately $28,000. Plato Investment Management Ltd purchased a new stake in shares of Tenet Healthcare in the third quarter valued at $28,000. ORG Wealth Partners LLC purchased a new position in shares of Tenet Healthcare during the third quarter valued at $30,000. ORG Partners LLC acquired a new position in Tenet Healthcare during the second quarter valued at $31,000. Finally, Blue Trust Inc. boosted its position in Tenet Healthcare by 93.0% during the 2nd quarter. Blue Trust Inc. now owns 249 shares of the company’s stock worth $33,000 after acquiring an additional 120 shares during the period. 95.44% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Richard W. Fisher sold 2,000 shares of Tenet Healthcare stock in a transaction that occurred on 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 transaction, the director now owns 14,227 shares in the company, valued at approximately $2,328,533.09. The trade was a 12.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Lisa Y. Foo sold 4,000 shares of the stock in a transaction on Thursday, October 31st. The stock was 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 in the company, valued at $2,427,362.04. The trade was a 20.44 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 17,599 shares of company stock worth $2,830,834. 0.93% of the stock is currently owned by company insiders.

Tenet Healthcare Trading Down 2.5 %

Shares of NYSE:THC opened at $147.99 on Friday. The stock’s 50-day moving average is $159.24 and its 200-day moving average is $147.72. Tenet Healthcare Co. has a 52-week low of $65.90 and a 52-week high of $171.20. The company has a market cap of $14.07 billion, a P/E ratio of 4.74, a P/E/G ratio of 0.69 and a beta of 2.15. The company has a debt-to-equity ratio of 2.35, a quick ratio of 1.52 and a current ratio of 1.58.

Tenet Healthcare (NYSE:THC) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $2.93 EPS 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 analyst estimates of $5.05 billion. During the same period in the previous year, the company earned $1.44 earnings per share. The company’s quarterly revenue was up 1.1% compared to the same quarter last year. Equities research analysts predict that Tenet Healthcare Co. will post 11.38 earnings per share for the current year.

Wall Street Analysts Forecast Growth

THC has been the subject of a number of research analyst reports. The Goldman Sachs Group increased their price target on shares of Tenet Healthcare from $173.00 to $196.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. KeyCorp began coverage on shares of Tenet Healthcare in a research note on Friday, October 11th. They set an “overweight” rating and a $200.00 target price for the company. Cantor Fitzgerald increased their price objective on Tenet Healthcare from $168.00 to $177.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Wells Fargo & Company upped their target price on Tenet Healthcare from $195.00 to $205.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. Finally, Barclays lifted their price target on Tenet Healthcare from $171.00 to $190.00 and gave the company an “overweight” rating in a report on Friday, November 8th. One investment analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Tenet Healthcare currently has an average rating of “Buy” and an average target price of $170.38.

Tenet Healthcare Company 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.