Holocene Advisors LP Purchases 21,935 Shares of Tenet Healthcare Co. (NYSE:THC)

Holocene Advisors LP lifted its position in shares of Tenet Healthcare Co. (NYSE:THC) by 9.3% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 257,642 shares of the company’s stock after buying an additional 21,935 shares during the quarter. Holocene Advisors LP owned approximately 0.27% of Tenet Healthcare worth $42,820,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of THC. Cetera Investment Advisers purchased a new stake in shares of Tenet Healthcare during the first quarter worth about $1,772,000. Cetera Advisors LLC bought a new stake in shares of Tenet Healthcare during the first quarter valued at approximately $227,000. GAMMA Investing LLC boosted its position in shares of Tenet Healthcare by 34.9% during the second quarter. GAMMA Investing LLC now owns 986 shares of the company’s stock worth $131,000 after acquiring an additional 255 shares during the last quarter. Park Avenue Securities LLC increased its holdings in Tenet Healthcare by 19.2% in the 2nd quarter. Park Avenue Securities LLC now owns 15,804 shares of the company’s stock valued at $2,102,000 after acquiring an additional 2,549 shares during the last quarter. Finally, CWM LLC lifted its stake in Tenet Healthcare by 49.7% in the 2nd quarter. CWM LLC now owns 2,255 shares of the company’s stock worth $300,000 after purchasing an additional 749 shares in the last quarter. Hedge funds and other institutional investors own 95.44% of the company’s stock.

Insider Activity

In other Tenet Healthcare news, insider R. Scott Ramsey sold 11,599 shares of Tenet Healthcare stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $162.06, for a total value of $1,879,733.94. Following the transaction, the insider now owns 6,324 shares in the company, valued at $1,024,867.44. The trade was a 64.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Lisa Y. Foo sold 4,000 shares of the firm’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 sale, the executive vice president now owns 15,566 shares in the company, 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. Company insiders own 0.93% of the company’s stock.

Tenet Healthcare Trading Down 0.5 %

THC stock opened at $141.95 on Tuesday. The company has a market capitalization of $13.50 billion, a PE ratio of 4.55, a P/E/G ratio of 0.64 and a beta of 2.06. The company has a debt-to-equity ratio of 2.35, a current ratio of 1.58 and a quick ratio of 1.52. Tenet Healthcare Co. has a 12 month low of $67.78 and a 12 month high of $171.20. The firm’s 50-day moving average is $156.87 and its 200 day moving average is $148.73.

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, beating the consensus estimate of $2.33 by $0.60. The firm had revenue of $5.12 billion during the quarter, compared to the consensus estimate of $5.05 billion. Tenet Healthcare had a net margin of 14.91% and a return on equity of 24.05%. The company’s revenue was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.44 earnings per share. On average, research analysts anticipate that Tenet Healthcare Co. will post 11.38 EPS for the current year.

Analysts Set New Price Targets

THC has been the topic of several research reports. Wells Fargo & Company cut Tenet Healthcare from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $205.00 to $150.00 in a report on Monday, November 25th. KeyCorp started coverage on Tenet Healthcare in a research report on Friday, October 11th. They set an “overweight” rating and a $200.00 target price for the company. Cantor Fitzgerald upped their price target on shares of Tenet Healthcare from $168.00 to $177.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Raymond James cut shares of Tenet Healthcare from a “strong-buy” rating to an “outperform” rating and set a $195.00 price objective for the company. in a research note on Friday, November 22nd. Finally, Barclays increased their price target on shares of Tenet Healthcare from $171.00 to $190.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $168.19.

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.