Cerity Partners LLC Grows Stock Position in Tenet Healthcare Co. (NYSE:THC)

Cerity Partners LLC lifted its stake in Tenet Healthcare Co. (NYSE:THC) by 67.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 31,056 shares of the company’s stock after purchasing an additional 12,480 shares during the quarter. Cerity Partners LLC’s holdings in Tenet Healthcare were worth $5,162,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. B. Riley Wealth Advisors Inc. increased its holdings in shares of Tenet Healthcare by 10.3% in the first quarter. B. Riley Wealth Advisors Inc. now owns 4,148 shares of the company’s stock valued at $436,000 after purchasing an additional 387 shares during the period. Tidal Investments LLC purchased a new position in Tenet Healthcare during the 1st quarter worth approximately $2,213,000. Comerica Bank lifted its stake in Tenet Healthcare by 50.2% during the 1st quarter. Comerica Bank now owns 93,952 shares of the company’s stock valued at $9,875,000 after acquiring an additional 31,406 shares during the period. Cetera Investment Advisers acquired a new stake in shares of Tenet Healthcare in the first quarter worth $1,772,000. Finally, Cetera Advisors LLC purchased a new position in shares of Tenet Healthcare during the first quarter worth $227,000. Hedge funds and other institutional investors own 95.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on THC. Barclays lifted their price objective on Tenet Healthcare from $171.00 to $190.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. The Goldman Sachs Group boosted their price target on Tenet Healthcare from $173.00 to $196.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Raymond James lowered shares of Tenet Healthcare from a “strong-buy” rating to an “outperform” rating and set a $195.00 target price for the company. in a report on Friday, November 22nd. Royal Bank of Canada increased their price target on shares of Tenet Healthcare from $174.00 to $183.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Cantor Fitzgerald upped their price objective on shares of Tenet Healthcare from $168.00 to $177.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Tenet Healthcare currently has an average rating of “Buy” and a consensus price target of $168.19.

Insider Buying and Selling

In other Tenet Healthcare news, EVP Lisa Y. Foo sold 4,000 shares of the business’s stock in a transaction dated Thursday, October 31st. The shares were 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. The trade was a 20.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider R. Scott Ramsey sold 11,599 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $162.06, for a total transaction of $1,879,733.94. Following the sale, the insider now 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 disclosure for this sale can be found here. 0.93% of the stock is currently owned by company insiders.

Tenet Healthcare Trading Down 2.5 %

Shares of THC stock opened at $141.98 on Friday. Tenet Healthcare Co. has a fifty-two week low of $65.90 and a fifty-two week high of $171.20. The firm has a market capitalization of $13.50 billion, a P/E ratio of 4.55, a PEG ratio of 0.64 and a beta of 2.15. The stock’s fifty day moving average is $157.82 and its two-hundred day moving average is $148.41. 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 posted 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. Tenet Healthcare had a net margin of 14.91% and a return on equity of 24.05%. The firm had revenue of $5.12 billion for the quarter, compared to analyst estimates of $5.05 billion. During the same period in the previous year, the business posted $1.44 earnings per share. Tenet Healthcare’s quarterly revenue was up 1.1% on a year-over-year basis. Research analysts expect that Tenet Healthcare Co. will post 11.38 earnings per share for the current fiscal year.

About Tenet Healthcare

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.