Charles Schwab Investment Management Inc. Decreases Position in Tenet Healthcare Co. (NYSE:THC)

Charles Schwab Investment Management Inc. lowered its stake in shares of Tenet Healthcare Co. (NYSE:THC) by 34.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 677,797 shares of the company’s stock after selling 348,462 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Tenet Healthcare were worth $112,650,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Plato Investment Management Ltd bought a new stake in shares of Tenet Healthcare in the 3rd quarter worth about $28,000. ORG Wealth Partners LLC bought a new stake in Tenet Healthcare in the third quarter worth about $30,000. Financial Management Professionals Inc. boosted its position in shares of Tenet Healthcare by 2,222.2% during the third quarter. Financial Management Professionals Inc. now owns 209 shares of the company’s stock valued at $35,000 after buying an additional 200 shares during the period. Innealta Capital LLC purchased a new stake in shares of Tenet Healthcare in the second quarter worth approximately $28,000. Finally, ORG Partners LLC purchased a new position in Tenet Healthcare during the 2nd quarter valued at $31,000. 95.44% of the stock is currently owned by institutional investors.

Tenet Healthcare Stock Down 0.2 %

THC stock opened at $143.32 on Tuesday. The company has a quick ratio of 1.52, a current ratio of 1.58 and a debt-to-equity ratio of 2.35. Tenet Healthcare Co. has a 52 week low of $65.90 and a 52 week high of $171.20. The stock has a market capitalization of $13.63 billion, a PE ratio of 4.59, a price-to-earnings-growth ratio of 0.64 and a beta of 2.15. The firm has a 50 day moving average of $158.44 and a 200 day moving average of $148.32.

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 firm 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% on a year-over-year basis. During the same period in the prior year, the firm earned $1.44 EPS. Sell-side analysts forecast that Tenet Healthcare Co. will post 11.38 earnings per share for the current year.

Insider Activity at Tenet Healthcare

In other news, insider R. Scott Ramsey sold 11,599 shares of the company’s stock in a transaction 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 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Lisa Y. Foo sold 4,000 shares of the business’s stock in a transaction 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 transaction, the executive vice president now owns 15,566 shares of the company’s stock, valued at $2,427,362.04. This represents a 20.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.93% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Raymond James downgraded shares of Tenet Healthcare from a “strong-buy” rating to an “outperform” rating and set a $195.00 target price on the stock. in a research note on Friday. UBS Group raised 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 increased their price target on Tenet Healthcare from $168.00 to $177.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Barclays boosted their price objective on shares of Tenet Healthcare from $171.00 to $190.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Finally, Royal Bank of Canada lifted 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. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $168.19.

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.