Moran Wealth Management LLC Raises Stock Holdings in Tenet Healthcare Co. (NYSE:THC)

Moran Wealth Management LLC boosted its stake in Tenet Healthcare Co. (NYSE:THC) by 7.9% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 2,064 shares of the company’s stock after purchasing an additional 151 shares during the period. Moran Wealth Management LLC’s holdings in Tenet Healthcare were worth $343,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of the stock. Innealta Capital LLC purchased a new position in shares of Tenet Healthcare during the 2nd quarter worth approximately $28,000. Plato Investment Management Ltd purchased a new stake in Tenet Healthcare in the 3rd quarter valued at approximately $28,000. ORG Wealth Partners LLC acquired a new stake in shares of Tenet Healthcare during the 3rd quarter worth about $30,000. ORG Partners LLC acquired a new stake in shares of Tenet Healthcare during the second quarter worth $31,000. Finally, Blue Trust Inc. increased its stake in shares of Tenet Healthcare by 93.0% during the 2nd quarter. Blue Trust Inc. now owns 249 shares of the company’s stock valued at $33,000 after acquiring an additional 120 shares during the last quarter. Hedge funds and other institutional investors own 95.44% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Cantor Fitzgerald boosted their price objective 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. Barclays boosted their price objective on shares of Tenet Healthcare from $171.00 to $190.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. KeyCorp initiated coverage on Tenet Healthcare in a research note on Friday, October 11th. They issued an “overweight” rating and a $200.00 target price for the company. Royal Bank of Canada upped their target price on shares of Tenet Healthcare from $174.00 to $183.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, The Goldman Sachs Group raised their price objective on Tenet Healthcare from $173.00 to $196.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. One analyst has rated the stock with a hold rating, fourteen have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $171.63.

Insider Buying and Selling at Tenet Healthcare

In other Tenet Healthcare news, EVP Lisa Y. Foo sold 4,000 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $2,427,362.04. This represents a 20.44 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard W. Fisher sold 2,000 shares of Tenet Healthcare stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $163.67, for a total transaction of $327,340.00. Following the completion of the transaction, the director now directly owns 14,227 shares in the company, valued at $2,328,533.09. This represents a 12.33 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 17,599 shares of company stock valued at $2,830,834. Company insiders own 0.93% of the company’s stock.

Tenet Healthcare Trading Down 2.9 %

Tenet Healthcare stock opened at $143.57 on Friday. The firm has a 50-day moving average price of $158.86 and a two-hundred day moving average price of $147.87. Tenet Healthcare Co. has a 52-week low of $65.90 and a 52-week high of $171.20. The firm has a market capitalization of $13.65 billion, a price-to-earnings ratio of 4.60, a PEG ratio of 0.69 and a beta of 2.15. The company has a quick ratio of 1.52, a current ratio of 1.58 and a debt-to-equity ratio of 2.35.

Tenet Healthcare (NYSE:THC) last posted 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 firm had revenue of $5.12 billion for 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 firm’s revenue was up 1.1% compared to the same quarter last year. During the same period last year, the firm earned $1.44 EPS. Sell-side analysts expect that Tenet Healthcare Co. will post 11.38 earnings per share for the current 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.