Tenet Healthcare Co. (NYSE:THC) Stock Holdings Lowered by Barclays PLC

Barclays PLC trimmed its position in shares of Tenet Healthcare Co. (NYSE:THC) by 34.8% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 138,866 shares of the company’s stock after selling 73,965 shares during the period. Barclays PLC owned 0.15% of Tenet Healthcare worth $23,079,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. FMR LLC lifted its holdings in Tenet Healthcare by 88.0% in the third quarter. FMR LLC now owns 7,700,693 shares of the company’s stock worth $1,279,855,000 after purchasing an additional 3,604,161 shares during the period. Marshall Wace LLP lifted its stake in shares of Tenet Healthcare by 7.3% in the 2nd quarter. Marshall Wace LLP now owns 713,979 shares of the company’s stock worth $94,981,000 after acquiring an additional 48,626 shares during the period. Farallon Capital Management LLC increased its stake in shares of Tenet Healthcare by 7.8% during the second quarter. Farallon Capital Management LLC now owns 687,442 shares of the company’s stock valued at $91,450,000 after acquiring an additional 50,000 shares during the period. Integral Health Asset Management LLC raised its holdings in 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 purchasing an additional 75,000 shares in the last quarter. Finally, Point72 Asset Management L.P. boosted its stake in Tenet Healthcare by 32.0% during the 3rd quarter. Point72 Asset Management L.P. now owns 442,949 shares of the company’s stock valued at $73,618,000 after purchasing an additional 107,290 shares in the last quarter. 95.44% of the stock is currently owned by institutional investors and hedge funds.

Tenet Healthcare Stock Performance

Shares of THC opened at $136.71 on Friday. Tenet Healthcare Co. has a 52 week low of $73.21 and a 52 week high of $171.20. The company has a debt-to-equity ratio of 2.35, a quick ratio of 1.52 and a current ratio of 1.58. The company has a market capitalization of $13.00 billion, a PE ratio of 4.38, a PEG ratio of 0.63 and a beta of 2.06. The company’s 50 day moving average price is $152.09 and its 200 day moving average price is $149.26.

Tenet Healthcare (NYSE:THC) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $2.93 earnings per share (EPS) 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 business had revenue of $5.12 billion during the quarter, compared to analyst estimates of $5.05 billion. During the same period last year, the company earned $1.44 earnings per share. Tenet Healthcare’s quarterly revenue was up 1.1% compared to the same quarter last year. Research analysts expect that Tenet Healthcare Co. will post 11.38 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on THC shares. UBS Group upped their price objective on Tenet Healthcare from $197.00 to $217.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. The Goldman Sachs Group raised their price objective on shares of Tenet Healthcare from $173.00 to $196.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Raymond James downgraded shares of Tenet Healthcare from a “strong-buy” rating to an “outperform” rating and set a $195.00 target price on the stock. in a report on Friday, November 22nd. Truist Financial reaffirmed a “buy” rating and issued a $190.00 price target (up previously from $180.00) on shares of Tenet Healthcare in a report on Wednesday, October 30th. Finally, Cantor Fitzgerald lifted their target price on Tenet Healthcare from $168.00 to $177.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Two equities research 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’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $168.19.

Insider Activity at Tenet Healthcare

In related news, EVP Lisa Y. Foo sold 4,000 shares of the company’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $155.94, for a total value 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. This represents a 20.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.93% of the stock is currently owned by company insiders.

Tenet Healthcare 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.