Primoris Wealth Advisors LLC Sells 468 Shares of Tenet Healthcare Co. (NYSE:THC)

Primoris Wealth Advisors LLC trimmed its position in shares of Tenet Healthcare Co. (NYSE:THC) by 3.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,116 shares of the company’s stock after selling 468 shares during the period. Primoris Wealth Advisors LLC’s holdings in Tenet Healthcare were worth $1,258,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in THC. Tudor Investment Corp Et Al grew its holdings in Tenet Healthcare by 40.7% during the 3rd quarter. Tudor Investment Corp Et Al now owns 36,172 shares of the company’s stock valued at $2,383,000 after purchasing an additional 10,460 shares during the last quarter. Comerica Bank bought a new position in Tenet Healthcare during the 3rd quarter valued at about $5,673,000. Neo Ivy Capital Management bought a new position in Tenet Healthcare during the 3rd quarter valued at about $155,000. Hudson Bay Capital Management LP grew its stake in Tenet Healthcare by 17.4% in the 3rd quarter. Hudson Bay Capital Management LP now owns 77,637 shares of the company’s stock worth $5,116,000 after acquiring an additional 11,484 shares in the last quarter. Finally, Sunbelt Securities Inc. bought a new position in Tenet Healthcare in the 3rd quarter worth about $67,000. 95.44% of the stock is currently owned by institutional investors.

Tenet Healthcare Stock Performance

Shares of NYSE:THC traded up $0.66 during midday trading on Friday, reaching $134.39. The company’s stock had a trading volume of 1,175,747 shares, compared to its average volume of 1,048,878. The company has a quick ratio of 1.37, a current ratio of 1.44 and a debt-to-equity ratio of 2.58. The firm has a market capitalization of $13.13 billion, a PE ratio of 5.21, a P/E/G ratio of 1.24 and a beta of 2.15. Tenet Healthcare Co. has a twelve month low of $51.04 and a twelve month high of $142.35. The stock has a fifty day moving average of $132.66 and a 200 day moving average of $106.82.

Tenet Healthcare (NYSE:THC) last announced its earnings results on Tuesday, April 30th. The company reported $3.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $1.77. Tenet Healthcare had a net margin of 12.53% and a return on equity of 26.76%. The business had revenue of $5.37 billion for the quarter, compared to analyst estimates of $5.15 billion. During the same quarter last year, the business earned $1.42 earnings per share. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. On average, equities analysts expect that Tenet Healthcare Co. will post 8.7 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on THC. Royal Bank of Canada upped their target price on shares of Tenet Healthcare from $109.00 to $136.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 1st. Wells Fargo & Company upped their target price on shares of Tenet Healthcare from $105.00 to $115.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. Baird R W upgraded shares of Tenet Healthcare to a “strong-buy” rating in a research note on Thursday, May 30th. Cantor Fitzgerald restated an “overweight” rating and issued a $112.00 target price on shares of Tenet Healthcare in a research note on Tuesday, July 9th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $130.00 price target (up previously from $120.00) on shares of Tenet Healthcare in a research report on Wednesday, May 1st. One equities research analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, Tenet Healthcare currently has a consensus rating of “Buy” and a consensus price target of $121.71.

Insider Activity

In other news, EVP Thomas W. Arnst sold 8,148 shares of Tenet Healthcare stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $116.10, for a total value of $945,982.80. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Christopher S. Lynch sold 10,861 shares of the business’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $133.83, for a total transaction of $1,453,527.63. Following the transaction, the director now directly owns 14,759 shares in the company, valued at $1,975,196.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Thomas W. Arnst sold 8,148 shares of the business’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $116.10, for a total transaction of $945,982.80. The disclosure for this sale can be found here. Insiders have sold a total of 24,691 shares of company stock worth $3,117,909 over the last 90 days. 0.93% of the stock is currently 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.