Tenet Healthcare Co. (NYSE:THC) Shares Bought by Centaurus Financial Inc.

Centaurus Financial Inc. grew its position in shares of Tenet Healthcare Co. (NYSE:THC) by 65.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,671 shares of the company’s stock after purchasing an additional 661 shares during the period. Centaurus Financial Inc.’s holdings in Tenet Healthcare were worth $278,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of THC. Acadian Asset Management LLC lifted its holdings in shares of Tenet Healthcare by 7,223.1% during the 2nd quarter. Acadian Asset Management LLC now owns 326,244 shares of the company’s stock worth $43,385,000 after acquiring an additional 321,789 shares during the period. Farallon Capital Management LLC raised its holdings in Tenet Healthcare by 70.1% in the first quarter. Farallon Capital Management LLC now owns 637,442 shares of the company’s stock valued at $67,002,000 after buying an additional 262,600 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in Tenet Healthcare by 344.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 317,198 shares of the company’s stock valued at $52,718,000 after buying an additional 245,875 shares during the period. Renaissance Technologies LLC purchased a new position in Tenet Healthcare in the second quarter valued at approximately $27,454,000. Finally, AQR Capital Management LLC raised its holdings in Tenet Healthcare by 35.2% in the second quarter. AQR Capital Management LLC now owns 341,250 shares of the company’s stock valued at $45,396,000 after buying an additional 88,781 shares during the period. 95.44% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider R. Scott Ramsey sold 11,599 shares of the business’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 value of $1,879,733.94. Following the completion of the sale, the insider now directly owns 6,324 shares in the company, valued at approximately $1,024,867.44. The trade was a 64.72 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Lisa Y. Foo sold 4,000 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 15,566 shares of the company’s stock, valued at approximately $2,427,362.04. This trade represents a 20.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.93% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on THC shares. Raymond James lowered shares of Tenet Healthcare from a “strong-buy” rating to an “outperform” rating and set a $195.00 price target on the stock. in a report on Friday, November 22nd. KeyCorp initiated coverage on shares of Tenet Healthcare in a report on Friday, October 11th. They issued an “overweight” rating and a $200.00 price target on the stock. Wells Fargo & Company downgraded shares of Tenet Healthcare from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $205.00 to $150.00 in a research report on Monday. 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 research report on Wednesday, October 30th. Finally, Barclays increased their price objective on shares of Tenet Healthcare from $171.00 to $190.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Tenet Healthcare presently has an average rating of “Buy” and an average price target of $168.19.

Tenet Healthcare Stock Down 2.5 %

Shares of Tenet Healthcare stock opened at $141.94 on Thursday. The firm has a market cap of $13.50 billion, a price-to-earnings ratio of 4.55, a P/E/G ratio of 0.64 and a beta of 2.15. 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 52-week low of $65.90 and a 52-week high of $171.20. The stock has a 50-day simple moving average of $158.21 and a 200-day simple moving average of $148.45.

Tenet Healthcare (NYSE:THC) last announced its quarterly 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 business had revenue of $5.12 billion during the quarter, compared to analyst estimates 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 previous year, the company earned $1.44 EPS. On average, equities 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.