B. Metzler seel. Sohn & Co. Holding AG Invests $1.16 Million in Tenet Healthcare Co. (NYSE:THC)

B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Tenet Healthcare Co. (NYSE:THC) during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 6,966 shares of the company’s stock, valued at approximately $1,158,000.

A number of other institutional investors also recently made changes to their positions in THC. Legacy Capital Group California Inc. acquired a new position in Tenet Healthcare in the 3rd quarter valued at about $1,055,000. Diversified Trust Co purchased a new stake in shares of Tenet Healthcare during the second quarter worth about $558,000. Envestnet Portfolio Solutions Inc. grew its stake in Tenet Healthcare by 124.0% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 12,787 shares of the company’s stock worth $1,701,000 after acquiring an additional 7,078 shares during the period. Caprock Group LLC acquired a new position in Tenet Healthcare in the 2nd quarter valued at $477,000. Finally, Swiss National Bank raised its holdings in Tenet Healthcare by 8.7% in the 3rd quarter. Swiss National Bank now owns 190,800 shares of the company’s stock valued at $31,711,000 after acquiring an additional 15,200 shares during the last quarter. 95.44% of the stock is owned by institutional investors and hedge funds.

Tenet Healthcare Stock Down 2.9 %

Shares of Tenet Healthcare stock opened at $143.63 on Friday. The company has a fifty day moving average price of $158.86 and a 200 day moving average price of $148.04. 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 twelve month low of $65.90 and a twelve month high of $171.20. The stock has a market cap of $13.66 billion, a price-to-earnings ratio of 4.60, a price-to-earnings-growth ratio of 0.66 and a beta of 2.15.

Tenet Healthcare (NYSE:THC) last announced 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. The firm had revenue of $5.12 billion during the quarter, compared to analysts’ expectations of $5.05 billion. Tenet Healthcare had a net margin of 14.91% and a return on equity of 24.05%. The firm’s revenue was up 1.1% on a year-over-year basis. During the same period in the prior year, the company earned $1.44 EPS. Equities research analysts forecast that Tenet Healthcare Co. will post 11.38 earnings per share for the current fiscal year.

Insider Buying and Selling at Tenet Healthcare

In other Tenet Healthcare news, insider R. Scott Ramsey sold 11,599 shares of the company’s stock in a transaction dated 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 completion of the transaction, the insider now directly owns 6,324 shares of the company’s stock, valued at $1,024,867.44. This represents a 64.72 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Lisa Y. Foo sold 4,000 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 15,566 shares of the company’s stock, valued at approximately $2,427,362.04. The trade was a 20.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 17,599 shares of company stock valued at $2,830,834 in the last ninety days. Insiders own 0.93% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Truist Financial reiterated a “buy” rating and issued a $190.00 price target (up from $180.00) on shares of Tenet Healthcare in a report on Wednesday, October 30th. Royal Bank of Canada boosted their price target on Tenet Healthcare from $174.00 to $183.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Wells Fargo & Company boosted their price target on Tenet Healthcare from $195.00 to $205.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. Cantor Fitzgerald upped 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. Finally, Raymond James downgraded Tenet Healthcare from a “strong-buy” rating to an “outperform” rating and set a $195.00 price objective for the company. in a report on Friday. One investment analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, Tenet Healthcare currently has an average rating of “Buy” and a consensus price target of $171.63.

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.