Entropy Technologies LP Acquires 8,602 Shares of Tenet Healthcare Co. (NYSE:THC)

Entropy Technologies LP raised its holdings in shares of Tenet Healthcare Co. (NYSE:THC) by 437.8% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 10,567 shares of the company’s stock after acquiring an additional 8,602 shares during the period. Entropy Technologies LP’s holdings in Tenet Healthcare were worth $1,756,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of THC. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Tenet Healthcare by 0.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,604 shares of the company’s stock worth $1,325,000 after purchasing an additional 90 shares during the period. Optas LLC lifted its holdings in Tenet Healthcare by 3.4% in the 3rd quarter. Optas LLC now owns 2,821 shares of the company’s stock worth $469,000 after buying an additional 93 shares during the period. Signaturefd LLC increased its stake in shares of 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 buying an additional 94 shares during the period. EverSource Wealth Advisors LLC lifted its stake 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 acquiring an additional 96 shares during the period. Finally, First Citizens Bank & Trust Co. boosted its holdings in Tenet Healthcare by 5.1% in 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 in the last quarter. Hedge funds and other institutional investors own 95.44% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Lisa Y. Foo sold 4,000 shares of the firm’s 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 transaction, the executive vice president now directly owns 15,566 shares in the company, valued at $2,427,362.04. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Tenet Healthcare news, EVP Lisa Y. Foo sold 4,000 shares of the company’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $155.94, for a total transaction of $623,760.00. Following the completion of the sale, 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 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard W. Fisher sold 2,000 shares of Tenet Healthcare stock in a transaction 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 transaction, the director now owns 14,227 shares in the company, valued at $2,328,533.09. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 25,976 shares of company stock valued at $4,137,646. Company insiders own 0.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on THC. KeyCorp assumed coverage on shares of Tenet Healthcare in a research report on Friday, October 11th. They set an “overweight” rating and a $200.00 price target on the stock. Truist Financial restated a “buy” rating and issued a $190.00 target price (up previously from $180.00) on shares of Tenet Healthcare in a research note on Wednesday, October 30th. UBS Group increased their price objective on Tenet Healthcare from $197.00 to $217.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Cantor Fitzgerald boosted their target price 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. Finally, Barclays lifted their price target on shares of Tenet Healthcare from $171.00 to $190.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. One research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $165.35.

Tenet Healthcare Stock Down 1.6 %

Tenet Healthcare stock opened at $164.25 on Wednesday. The firm has a market cap 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 company has a current ratio of 1.58, a quick ratio of 1.52 and a debt-to-equity ratio of 2.35. Tenet Healthcare Co. has a 12 month low of $53.63 and a 12 month high of $171.20. The stock has a fifty day simple moving average of $159.50 and a two-hundred day simple moving average of $146.13.

Tenet Healthcare (NYSE:THC) last posted 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. Tenet Healthcare had a net margin of 14.91% and a return on equity of 24.05%. The business 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 business earned $1.44 EPS. The business’s revenue for the quarter was up 1.1% compared to the same quarter last year. Equities analysts predict that Tenet Healthcare Co. will post 11.38 EPS for the current fiscal year.

Tenet Healthcare announced that its board has initiated a stock buyback program on Wednesday, July 24th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the company to purchase up to 10.3% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is undervalued.

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.