Hancock Whitney Corp Increases Position in Tenet Healthcare Co. (NYSE:THC)

Hancock Whitney Corp lifted its stake in Tenet Healthcare Co. (NYSE:THC) by 175.9% during the third quarter, HoldingsChannel.com reports. The firm owned 94,826 shares of the company’s stock after purchasing an additional 60,453 shares during the quarter. Hancock Whitney Corp’s holdings in Tenet Healthcare were worth $15,760,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in THC. 8 Knots Management LLC lifted its stake in shares of Tenet Healthcare by 74.5% in the first quarter. 8 Knots Management LLC now owns 1,025,730 shares of the company’s stock worth $107,814,000 after buying an additional 438,033 shares in the last quarter. Acadian Asset Management LLC lifted its position in Tenet Healthcare by 7,223.1% in the 2nd quarter. Acadian Asset Management LLC now owns 326,244 shares of the company’s stock valued at $43,385,000 after acquiring an additional 321,789 shares in the last quarter. Farallon Capital Management LLC increased its holdings in shares of Tenet Healthcare by 70.1% in the 1st quarter. Farallon Capital Management LLC now owns 637,442 shares of the company’s stock worth $67,002,000 after purchasing an additional 262,600 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Tenet Healthcare by 344.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 317,198 shares of the company’s stock worth $52,718,000 after purchasing an additional 245,875 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in shares of Tenet Healthcare during the second quarter valued at $27,454,000. Institutional investors own 95.44% of the company’s stock.

Insider Activity

In other Tenet Healthcare news, insider R. Scott Ramsey sold 11,599 shares of Tenet Healthcare stock in a transaction on 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 in the company, valued at approximately $1,024,867.44. The trade was a 64.72 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 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 transaction, the executive vice president now directly owns 15,566 shares of the company’s stock, valued at $2,427,362.04. This trade represents a 20.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 17,599 shares of company stock worth $2,830,834 over the last quarter. Insiders own 0.93% of the company’s stock.

Tenet Healthcare Stock Down 0.8 %

Shares of THC stock opened at $142.50 on Monday. The company has a market capitalization of $13.55 billion, a price-to-earnings ratio of 4.60, a PEG ratio of 0.64 and a beta of 2.15. 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 company’s fifty day moving average price is $158.86 and its 200-day moving average price is $148.21. Tenet Healthcare Co. has a one year low of $65.90 and a one year high of $171.20.

Tenet Healthcare (NYSE:THC) last released its quarterly earnings data 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. The firm had revenue of $5.12 billion during the quarter, compared to analyst estimates of $5.05 billion. Tenet Healthcare had a return on equity of 24.05% and a net margin of 14.91%. The business’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.44 earnings per share. Sell-side analysts expect that Tenet Healthcare Co. will post 11.38 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on THC. Cantor Fitzgerald upped their target price on shares of Tenet Healthcare from $168.00 to $177.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. KeyCorp started coverage on shares of Tenet Healthcare in a report on Friday, October 11th. They issued an “overweight” rating and a $200.00 target price on the stock. Wells Fargo & Company lowered shares of Tenet Healthcare from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $205.00 to $150.00 in a research note on Monday. Royal Bank of Canada upped their price objective on Tenet Healthcare from $174.00 to $183.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Finally, UBS Group raised their target price on Tenet Healthcare from $197.00 to $217.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Tenet Healthcare has a consensus rating of “Buy” and an average target price of $168.19.

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.