Tenet Healthcare Co. (NYSE:THC) Shares Sold by Castleark Management LLC

Castleark Management LLC reduced its stake in Tenet Healthcare Co. (NYSE:THC) by 15.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 48,870 shares of the company’s stock after selling 9,220 shares during the period. Castleark Management LLC owned approximately 0.05% of Tenet Healthcare worth $8,122,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of THC. Plato Investment Management Ltd acquired a new position in shares of Tenet Healthcare in the 3rd quarter worth approximately $28,000. ORG Wealth Partners LLC acquired a new stake in shares of Tenet Healthcare in the third quarter valued at $30,000. Financial Management Professionals Inc. boosted 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 valued at $35,000 after acquiring an additional 200 shares during the period. Innealta Capital LLC acquired a new stake in shares of Tenet Healthcare during the second quarter worth about $28,000. Finally, True Wealth Design LLC purchased a new position in shares of Tenet Healthcare in the third quarter valued at approximately $38,000. Institutional investors and hedge funds own 95.44% of the company’s stock.

Insider Buying and Selling

In related news, EVP Lisa Y. Foo sold 4,000 shares of the stock in a transaction that occurred on 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 owns 15,566 shares of the company’s stock, valued at approximately $2,427,362.04. This represents a 20.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.93% of the company’s stock.

Tenet Healthcare Stock Up 0.0 %

Shares of NYSE THC opened at $138.93 on Friday. Tenet Healthcare Co. has a 1 year low of $67.78 and a 1 year high of $171.20. The firm’s 50 day moving average price is $154.32 and its 200 day moving average price is $148.85. 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 firm has a market cap 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 announced its quarterly earnings data 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 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 analyst estimates of $5.05 billion. During the same period in the prior year, the firm posted $1.44 EPS. The company’s revenue was up 1.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Tenet Healthcare Co. will post 11.38 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have commented on THC shares. Raymond James cut shares of Tenet Healthcare from a “strong-buy” rating to an “outperform” rating and set a $195.00 price target for the company. in a research report on Friday, November 22nd. 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 report on Wednesday, October 30th. UBS Group increased their target price on Tenet Healthcare from $197.00 to $217.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Wells Fargo & Company downgraded Tenet Healthcare from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $205.00 to $150.00 in a research note on Monday, November 25th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $190.00 target price (up from $180.00) on shares of Tenet Healthcare in a report on Wednesday, October 30th. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target 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.