Sanctuary Advisors LLC Acquires 12,609 Shares of Tenet Healthcare Co. (NYSE:THC)

Sanctuary Advisors LLC increased its position in shares of Tenet Healthcare Co. (NYSE:THC) by 470.5% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 15,289 shares of the company’s stock after acquiring an additional 12,609 shares during the period. Sanctuary Advisors LLC’s holdings in Tenet Healthcare were worth $2,541,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. FMR LLC grew its position in Tenet Healthcare by 88.0% during the 3rd quarter. FMR LLC now owns 7,700,693 shares of the company’s stock worth $1,279,855,000 after acquiring an additional 3,604,161 shares during the last quarter. Geode Capital Management LLC grew its position in Tenet Healthcare by 23.6% during the 3rd quarter. Geode Capital Management LLC now owns 2,044,667 shares of the company’s stock worth $339,893,000 after acquiring an additional 390,316 shares during the last quarter. Marshall Wace LLP grew its position in shares of Tenet Healthcare by 7.3% in the 2nd quarter. Marshall Wace LLP now owns 713,979 shares of the company’s stock valued at $94,981,000 after buying an additional 48,626 shares during the last quarter. Farallon Capital Management LLC grew its position in shares of Tenet Healthcare by 7.8% in the 2nd quarter. Farallon Capital Management LLC now owns 687,442 shares of the company’s stock valued at $91,450,000 after buying an additional 50,000 shares during the last quarter. Finally, Integral Health Asset Management LLC grew its position in shares of Tenet Healthcare by 17.6% in the 2nd quarter. Integral Health Asset Management LLC now owns 500,000 shares of the company’s stock valued at $66,515,000 after buying an additional 75,000 shares during the last quarter. Institutional investors own 95.44% of the company’s stock.

Insider Activity

In other Tenet Healthcare news, 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 transaction of $623,760.00. Following the completion of the transaction, the executive vice president now directly owns 15,566 shares of the company’s stock, valued at approximately $2,427,362.04. This represents a 20.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.93% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on THC shares. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $175.00 price objective on shares of Tenet Healthcare in a research note on Tuesday. Wells Fargo & Company downgraded Tenet Healthcare from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $205.00 to $150.00 in a research note on Monday, November 25th. Truist Financial reissued 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. UBS Group boosted their price objective on Tenet Healthcare from $197.00 to $217.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, Cantor Fitzgerald upped their price target on Tenet Healthcare from $168.00 to $177.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Three investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Tenet Healthcare presently has an average rating of “Moderate Buy” and an average price target of $166.88.

Tenet Healthcare Stock Performance

THC stock opened at $132.55 on Wednesday. The firm has a market cap of $12.61 billion, a PE ratio of 4.25, a P/E/G ratio of 0.61 and a beta of 2.06. 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 business has a 50 day moving average of $151.34 and a 200-day moving average of $149.37. Tenet Healthcare Co. has a 12-month low of $73.21 and a 12-month high of $171.20.

Tenet Healthcare (NYSE:THC) last released its earnings results on Tuesday, October 29th. The company reported $2.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.33 by $0.60. The company had revenue of $5.12 billion during the quarter, compared to analyst estimates of $5.05 billion. Tenet Healthcare had a return on equity of 24.05% and a net margin of 14.91%. Tenet Healthcare’s quarterly revenue was up 1.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.44 earnings per share. As a group, sell-side analysts expect that Tenet Healthcare Co. will post 11.38 earnings per share for the current year.

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.