Sanctuary Advisors LLC Purchases 12,609 Shares of Tenet Healthcare Co. (NYSE:THC)

Sanctuary Advisors LLC increased its position in shares of Tenet Healthcare Co. (NYSE:THC) by 470.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 15,289 shares of the company’s stock after buying an additional 12,609 shares during the quarter. Sanctuary Advisors LLC’s holdings in Tenet Healthcare were worth $2,541,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. FMR LLC grew its holdings in shares of Tenet Healthcare by 88.0% during the third quarter. FMR LLC now owns 7,700,693 shares of the company’s stock worth $1,279,855,000 after buying an additional 3,604,161 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Tenet Healthcare by 23.6% during the third quarter. Geode Capital Management LLC now owns 2,044,667 shares of the company’s stock worth $339,893,000 after buying an additional 390,316 shares in the last quarter. Marshall Wace LLP grew its holdings in shares of Tenet Healthcare by 7.3% during the second quarter. Marshall Wace LLP now owns 713,979 shares of the company’s stock worth $94,981,000 after buying an additional 48,626 shares in the last quarter. Farallon Capital Management LLC grew its stake in Tenet Healthcare by 7.8% in the second quarter. Farallon Capital Management LLC now owns 687,442 shares of the company’s stock valued at $91,450,000 after purchasing an additional 50,000 shares in the last quarter. Finally, Integral Health Asset Management LLC grew its stake in Tenet Healthcare by 17.6% in the second quarter. Integral Health Asset Management LLC now owns 500,000 shares of the company’s stock valued at $66,515,000 after purchasing an additional 75,000 shares in the last quarter. 95.44% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Tenet Healthcare

In other news, EVP Lisa Y. Foo sold 4,000 shares of Tenet Healthcare 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 transaction, the executive vice president now owns 15,566 shares in the company, valued at approximately $2,427,362.04. This trade represents a 20.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.93% of the company’s stock.

Tenet Healthcare Stock Performance

NYSE:THC opened at $132.55 on Wednesday. The stock has a market cap of $12.61 billion, a P/E ratio of 4.25, a PEG ratio of 0.61 and a beta of 2.06. The stock has a 50 day simple moving average of $151.34 and a 200 day simple moving average of $149.37. The company has a current ratio of 1.58, a quick ratio of 1.52 and a debt-to-equity ratio of 2.35. Tenet Healthcare Co. has a 1-year low of $73.21 and a 1-year high of $171.20.

Tenet Healthcare (NYSE:THC) last announced its quarterly earnings data 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 analysts’ expectations of $5.05 billion. Tenet Healthcare had a return on equity of 24.05% and a net margin of 14.91%. The company’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.44 EPS. Research analysts anticipate that Tenet Healthcare Co. will post 11.38 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on THC shares. Truist Financial restated a “buy” rating and issued a $190.00 price target (up from $180.00) on shares of Tenet Healthcare in a research note on Wednesday, October 30th. Barclays raised their price target on Tenet Healthcare from $171.00 to $190.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Raymond James downgraded Tenet Healthcare from a “strong-buy” rating to an “outperform” rating and set a $195.00 price target for the company. in a research note on Friday, November 22nd. Wells Fargo & Company downgraded 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 research note on Monday, November 25th. Finally, Royal Bank of Canada lifted their target price on Tenet Healthcare from $174.00 to $183.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Three investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $166.88.

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.