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

Centaurus Financial Inc. lifted its holdings in Tenet Healthcare Co. (NYSE:THC) by 65.4% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor 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 reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Plato Investment Management Ltd acquired a new position in Tenet Healthcare during the 3rd quarter worth approximately $28,000. ORG Wealth Partners LLC acquired a new position in Tenet Healthcare during the 3rd quarter worth approximately $30,000. Financial Management Professionals Inc. grew its holdings in Tenet Healthcare by 2,222.2% during the 3rd quarter. Financial Management Professionals Inc. now owns 209 shares of the company’s stock worth $35,000 after acquiring an additional 200 shares in the last quarter. Innealta Capital LLC acquired a new position in Tenet Healthcare during the 2nd quarter worth approximately $28,000. Finally, ORG Partners LLC purchased a new stake in shares of Tenet Healthcare during the 2nd quarter worth approximately $31,000. Institutional investors and hedge funds own 95.44% of the company’s stock.

Insider Activity at Tenet Healthcare

In related news, insider R. Scott Ramsey sold 11,599 shares of the stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $162.06, for a total value of $1,879,733.94. Following the sale, the insider now directly owns 6,324 shares of the company’s stock, valued at approximately $1,024,867.44. This represents a 64.72 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Lisa Y. Foo sold 4,000 shares of the stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $155.94, for a total transaction 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 approximately $2,427,362.04. The trade was a 20.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.93% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on THC shares. The Goldman Sachs Group boosted their price objective on shares of Tenet Healthcare from $173.00 to $196.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Cantor Fitzgerald boosted their price objective on shares of Tenet Healthcare from $168.00 to $177.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Wells Fargo & Company downgraded shares of Tenet Healthcare from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $205.00 to $150.00 in a research report on Monday. Royal Bank of Canada upped their price target on shares of Tenet Healthcare from $174.00 to $183.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Finally, KeyCorp began coverage on shares of Tenet Healthcare in a research report on Friday, October 11th. They issued an “overweight” rating and a $200.00 price target for the company. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $168.19.

Tenet Healthcare Stock Performance

NYSE:THC opened at $141.94 on Thursday. The company has a quick ratio of 1.52, a current ratio of 1.58 and a debt-to-equity ratio of 2.35. Tenet Healthcare Co. has a fifty-two week low of $65.90 and a fifty-two week high of $171.20. The stock has a market cap of $13.50 billion, a PE ratio of 4.55, a price-to-earnings-growth ratio of 0.64 and a beta of 2.15. The firm’s fifty day simple moving average is $158.21 and its 200-day simple moving average is $148.45.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $2.93 earnings per share for the quarter, topping analysts’ consensus estimates of $2.33 by $0.60. Tenet Healthcare had a net margin of 14.91% and a return on equity of 24.05%. The business had revenue of $5.12 billion for the quarter, compared to analysts’ expectations of $5.05 billion. During the same period in the prior year, the company posted $1.44 EPS. The business’s revenue for the quarter was up 1.1% on a year-over-year basis. 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.