Tenet Healthcare Corporation $THC Shares Sold by Kestra Investment Management LLC

Kestra Investment Management LLC lessened its holdings in Tenet Healthcare Corporation (NYSE:THC - Free Report) by 30.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,381 shares of the company's stock after selling 7,985 shares during the quarter. Kestra Investment Management LLC's holdings in Tenet Healthcare were worth $4,698,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. AlphaCore Capital LLC purchased a new stake in Tenet Healthcare during the 3rd quarter worth about $244,000. Leuthold Group LLC increased its holdings in shares of Tenet Healthcare by 8.6% in the 3rd quarter. Leuthold Group LLC now owns 34,405 shares of the company's stock valued at $8,793,000 after acquiring an additional 2,730 shares during the last quarter. Retirement Systems of Alabama increased its holdings in shares of Tenet Healthcare by 2.6% in the 3rd quarter. Retirement Systems of Alabama now owns 153,307 shares of the company's stock valued at $39,179,000 after acquiring an additional 3,860 shares during the last quarter. Fulcrum Asset Management LLP acquired a new stake in shares of Tenet Healthcare during the 3rd quarter worth about $966,000. Finally, Ethic Inc. lifted its stake in Tenet Healthcare by 26.9% during the third quarter. Ethic Inc. now owns 6,548 shares of the company's stock worth $1,673,000 after purchasing an additional 1,387 shares during the last quarter. 95.44% of the stock is owned by hedge funds and other institutional investors.

Tenet Healthcare Stock Performance

NYSE:THC opened at $288.90 on Tuesday. The firm's fifty day moving average price is $265.77 and its 200 day moving average price is $222.88. Tenet Healthcare Corporation has a 1-year low of $157.58 and a 1-year high of $301.44. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.58 and a quick ratio of 1.52. The firm has a market cap of $22.99 billion, a price-to-earnings ratio of 8.38, a price-to-earnings-growth ratio of 1.56 and a beta of 1.20.

Tenet Healthcare (NYSE:THC - Get Free Report) last announced its quarterly earnings data on Thursday, October 29th. The company reported $6.64 EPS for the quarter, topping analysts' consensus estimates of $4.68 by $1.96. Tenet Healthcare had a net margin of 13.09% and a return on equity of 28.22%. The company had revenue of $6.28 billion during the quarter, compared to the consensus estimate of $5.49 billion. During the same quarter in the prior year, the firm earned $3.70 EPS. Tenet Healthcare's quarterly revenue was up 6.5% on a year-over-year basis. On average, sell-side analysts expect that Tenet Healthcare Corporation will post 22.32 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. KeyCorp upped their price target on Tenet Healthcare from $270.00 to $300.00 and gave the company an "overweight" rating in a report on Tuesday, November 3rd. Wall Street Zen raised shares of Tenet Healthcare from a "buy" rating to a "strong-buy" rating in a report on Saturday, October 17th. Robert W. Baird raised their price objective on shares of Tenet Healthcare from $210.00 to $280.00 and gave the stock a "neutral" rating in a report on Tuesday, July 28th. Mizuho set a $305.00 price objective on shares of Tenet Healthcare in a research report on Monday, November 2nd. Finally, BMO Capital Markets assumed coverage on shares of Tenet Healthcare in a report on Tuesday, September 22nd. They issued a "market perform" rating and a $265.00 target price for the company. Twenty research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $293.48.

Insider Buying and Selling at Tenet Healthcare

In related news, EVP Lisa Y. Foo sold 24,000 shares of the firm's stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $266.32, for a total value of $6,391,680.00. Following the completion of the sale, the executive vice president owned 8,053 shares in the company, valued at $2,144,674.96. This trade represents a 74.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Saumya Sutaria sold 50,000 shares of Tenet Healthcare stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $278.71, for a total value of $13,935,500.00. Following the completion of the sale, the chief executive officer directly owned 483,564 shares in the company, valued at $134,774,122.44. This represents a 9.37% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 98,462 shares of company stock valued at $26,788,234. Insiders own 0.97% of the company's stock.

Tenet Healthcare Company Profile

Tenet Healthcare Corporation is a U.S.-based healthcare services company that operates acute care hospitals and provides related inpatient and outpatient services. Its hospitals offer services across areas such as emergency care, surgery, imaging and specialty treatment.

Through its subsidiary United Surgical Partners International (USPI), Tenet also operates ambulatory surgery centers and surgical hospitals, providing outpatient surgical and procedural care. The company's Conifer Health Solutions business provides revenue cycle management and other administrative services to healthcare providers.

Tenet traces its history to National Medical Enterprises, founded in 1969, and adopted the Tenet Healthcare name in 1995.

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