3,045 Shares in Tenet Healthcare Co. (NYSE:THC) Bought by Alpha DNA Investment Management LLC

Alpha DNA Investment Management LLC purchased a new position in Tenet Healthcare Co. (NYSE:THC) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,045 shares of the company’s stock, valued at approximately $506,000.

A number of other large investors have also recently made changes to their positions in THC. Optas LLC raised its stake in Tenet Healthcare by 3.4% during the 3rd quarter. Optas LLC now owns 2,821 shares of the company’s stock worth $469,000 after acquiring an additional 93 shares during the period. Signaturefd LLC lifted its stake in shares of Tenet Healthcare by 17.6% during the 3rd quarter. Signaturefd LLC now owns 628 shares of the company’s stock valued at $104,000 after buying an additional 94 shares in the last quarter. CIBC Asset Management Inc boosted its holdings in Tenet Healthcare by 3.4% in the 3rd quarter. CIBC Asset Management Inc now owns 2,887 shares of the company’s stock worth $480,000 after buying an additional 94 shares during the period. EverSource Wealth Advisors LLC increased its stake in Tenet Healthcare by 20.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 560 shares of the company’s stock worth $74,000 after buying an additional 96 shares in the last quarter. Finally, First Citizens Bank & Trust Co. lifted its position in shares of 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. 95.44% of the stock is owned by hedge funds and other institutional investors.

Tenet Healthcare Stock Down 2.9 %

NYSE THC opened at $143.63 on Friday. Tenet Healthcare Co. has a 52 week low of $65.90 and a 52 week high of $171.20. The firm has a market capitalization of $13.66 billion, a price-to-earnings ratio of 4.60, a PEG ratio of 0.66 and a beta of 2.15. 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 company has a fifty day moving average of $158.86 and a two-hundred day moving average of $148.04.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings data 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 company had revenue of $5.12 billion for the quarter, compared to analyst estimates 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 for the quarter was up 1.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.44 EPS. On average, analysts predict that Tenet Healthcare Co. will post 11.38 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently issued reports on THC shares. Raymond James downgraded 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. The Goldman Sachs Group boosted their target price on shares of Tenet Healthcare from $173.00 to $196.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Wells Fargo & Company lifted their price target on shares of Tenet Healthcare from $195.00 to $205.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. Cantor Fitzgerald increased their price objective 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, Royal Bank of Canada lifted their target price on Tenet Healthcare from $174.00 to $183.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. One analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $171.63.

Insider Activity at Tenet Healthcare

In other Tenet Healthcare news, 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 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 represents a 20.44 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider R. Scott Ramsey sold 11,599 shares of Tenet Healthcare stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $162.06, for a total transaction 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 disclosure for this sale can be found here. Insiders sold a total of 17,599 shares of company stock worth $2,830,834 in the last quarter. 0.93% of the stock is owned by company insiders.

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.