Quantinno Capital Management LP Acquires 11,749 Shares of Tenet Healthcare Co. (NYSE:THC)

Quantinno Capital Management LP lifted its position in Tenet Healthcare Co. (NYSE:THC) by 40.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,672 shares of the company’s stock after acquiring an additional 11,749 shares during the quarter. Quantinno Capital Management LP’s holdings in Tenet Healthcare were worth $6,760,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Plato Investment Management Ltd purchased a new stake in shares of Tenet Healthcare during the third quarter worth about $28,000. ORG Wealth Partners LLC purchased a new stake in Tenet Healthcare in the third quarter valued at approximately $30,000. Financial Management Professionals Inc. boosted its position in Tenet Healthcare by 2,222.2% in 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 last quarter. Innealta Capital LLC purchased a new stake in Tenet Healthcare in the second quarter valued at approximately $28,000. Finally, True Wealth Design LLC purchased a new stake in Tenet Healthcare in the third quarter valued at approximately $38,000. 95.44% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Cantor Fitzgerald upped their target price on Tenet Healthcare from $168.00 to $177.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Wells Fargo & Company lowered Tenet Healthcare from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $205.00 to $150.00 in a research report on Monday, November 25th. Royal Bank of Canada upped their price objective on Tenet Healthcare from $174.00 to $183.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Truist Financial restated a “buy” rating and issued a $190.00 price objective (up previously from $180.00) on shares of Tenet Healthcare in a research report on Wednesday, October 30th. Finally, The Goldman Sachs Group upped their price objective on Tenet Healthcare from $173.00 to $196.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $168.19.

Tenet Healthcare Stock Up 0.0 %

NYSE THC opened at $138.93 on Friday. The business has a fifty day moving average price of $154.32 and a 200 day moving average price of $148.85. Tenet Healthcare Co. has a one year low of $67.78 and a one year high of $171.20. The company has a debt-to-equity ratio of 2.35, a quick ratio of 1.52 and a current ratio of 1.58. The company has a market cap of $13.21 billion, a P/E ratio of 4.45, a P/E/G ratio of 0.63 and a beta of 2.06.

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

Insider Buying and Selling at Tenet Healthcare

In other Tenet Healthcare news, EVP Lisa Y. Foo sold 4,000 shares of the company’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $155.94, for a total value of $623,760.00. Following the completion of the sale, 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 filing with the Securities & Exchange Commission, which is available through the SEC website. 0.93% of the stock is owned by company insiders.

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.