1,255 Shares in Tenet Healthcare Co. (NYSE:THC) Bought by SYM FINANCIAL Corp

SYM FINANCIAL Corp purchased a new stake in shares of Tenet Healthcare Co. (NYSE:THC) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,255 shares of the company’s stock, valued at approximately $209,000.

A number of other institutional investors have also made changes to their positions in the business. Legacy Capital Group California Inc. acquired a new position in shares of Tenet Healthcare during the third quarter worth approximately $1,055,000. Diversified Trust Co bought a new stake in shares of Tenet Healthcare in the second quarter valued at about $558,000. Envestnet Portfolio Solutions Inc. increased its stake in Tenet Healthcare by 124.0% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 12,787 shares of the company’s stock valued at $1,701,000 after acquiring an additional 7,078 shares during the period. Caprock Group LLC bought a new stake in shares of Tenet Healthcare in the 2nd quarter worth approximately $477,000. Finally, Intech Investment Management LLC increased its holdings in Tenet Healthcare by 44.4% in the 3rd quarter. Intech Investment Management LLC now owns 79,266 shares of the company’s stock valued at $13,174,000 after buying an additional 24,385 shares during the period. 95.44% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Lisa Y. Foo sold 4,000 shares of the 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 of the company’s stock, valued at $2,427,362.04. This represents a 20.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.93% of the company’s stock.

Tenet Healthcare Price Performance

THC opened at $138.90 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 company’s 50 day simple moving average is $155.33 and its 200-day simple moving average is $148.87. Tenet Healthcare Co. has a one year low of $67.78 and a one year high of $171.20. The stock has a market capitalization of $13.21 billion, a P/E ratio of 4.45, a price-to-earnings-growth ratio of 0.63 and a beta of 2.06.

Tenet Healthcare (NYSE:THC) last released its earnings results on Tuesday, October 29th. The company reported $2.93 EPS for the quarter, beating the consensus estimate of $2.33 by $0.60. The company 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 business’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same period last year, the firm earned $1.44 EPS. Sell-side analysts anticipate that Tenet Healthcare Co. will post 11.38 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently weighed in on THC shares. Raymond James lowered 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 research report on Friday, November 22nd. The Goldman Sachs Group lifted their price objective on 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 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. Wells Fargo & Company cut Tenet Healthcare from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $205.00 to $150.00 in a research report on Monday, November 25th. Finally, Barclays boosted their target price on shares of Tenet Healthcare from $171.00 to $190.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Two investment 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 company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $168.19.

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.