Cynosure Group LLC Invests $368,000 in Tenet Healthcare Co. (NYSE:THC)

Cynosure Group LLC purchased a new position in shares of Tenet Healthcare Co. (NYSE:THC) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 2,214 shares of the company’s stock, valued at approximately $368,000.

Several other institutional investors also recently added to or reduced their stakes in the company. FMR LLC increased its holdings in shares of Tenet Healthcare by 88.0% in the 3rd quarter. FMR LLC now owns 7,700,693 shares of the company’s stock valued at $1,279,855,000 after acquiring an additional 3,604,161 shares during the period. Marshall Wace LLP grew its position in Tenet Healthcare by 7.3% during the 2nd quarter. Marshall Wace LLP now owns 713,979 shares of the company’s stock worth $94,981,000 after purchasing an additional 48,626 shares during the last quarter. Farallon Capital Management LLC raised its holdings in shares of 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 buying an additional 50,000 shares during the last quarter. Integral Health Asset Management LLC boosted its stake in shares of Tenet Healthcare by 17.6% during the second quarter. Integral Health Asset Management LLC now owns 500,000 shares of the company’s stock worth $66,515,000 after buying an additional 75,000 shares during the period. Finally, AQR Capital Management LLC increased its position in Tenet Healthcare by 35.2% in the 2nd quarter. AQR Capital Management LLC now owns 341,250 shares of the company’s stock valued at $45,396,000 after acquiring an additional 88,781 shares during the period. Institutional investors and hedge funds own 95.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on THC shares. Cantor Fitzgerald lifted their target price on Tenet Healthcare from $168.00 to $177.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Truist Financial reissued a “buy” rating and issued a $190.00 price objective (up from $180.00) on shares of Tenet Healthcare in a research note on Wednesday, October 30th. The Goldman Sachs Group lifted their target price on shares of Tenet Healthcare from $173.00 to $196.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. UBS Group raised their price objective on shares of Tenet Healthcare from $197.00 to $217.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, Barclays raised their price target on Tenet Healthcare from $171.00 to $190.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $168.19.

Insider Buying and Selling at Tenet Healthcare

In other news, EVP Lisa Y. Foo sold 4,000 shares of the firm’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $155.94, for a total transaction of $623,760.00. Following the sale, the executive vice president now owns 15,566 shares in the company, valued at $2,427,362.04. This trade represents a 20.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider R. Scott Ramsey sold 11,599 shares of the stock in a transaction dated 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 transaction, the insider now owns 6,324 shares in the company, valued at $1,024,867.44. This trade represents a 64.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.93% of the stock is owned by insiders.

Tenet Healthcare Stock Down 2.5 %

Shares of NYSE THC opened at $141.98 on Friday. The company has a debt-to-equity ratio of 2.35, a current ratio of 1.58 and a quick ratio of 1.52. The firm’s 50-day moving average is $157.82 and its two-hundred day moving average is $148.41. Tenet Healthcare Co. has a 12-month low of $65.90 and a 12-month high of $171.20. The company has a market capitalization 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.

Tenet Healthcare (NYSE:THC) last released its quarterly earnings results on Tuesday, October 29th. The company reported $2.93 earnings per share for the quarter, topping the consensus estimate of $2.33 by $0.60. Tenet Healthcare had a return on equity of 24.05% and a net margin of 14.91%. The company had revenue of $5.12 billion during the quarter, compared to the consensus estimate of $5.05 billion. During the same quarter last year, the business posted $1.44 earnings per share. Tenet Healthcare’s revenue was up 1.1% compared to the same quarter last year. Equities analysts anticipate that Tenet Healthcare Co. will post 11.38 EPS 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.