Tenet Healthcare Corporation $THC Stock Sold by Orange Investment Advisors Inc.

Orange Investment Advisors Inc. trimmed its holdings in Tenet Healthcare Corporation (NYSE:THC) by 8.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,933 shares of the company’s stock after selling 2,286 shares during the period. Orange Investment Advisors Inc.’s holdings in Tenet Healthcare were worth $6,116,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Manning & Napier Advisors LLC bought a new position in Tenet Healthcare during the 2nd quarter worth $168,761,000. Arrowstreet Capital Limited Partnership increased its stake in Tenet Healthcare by 57.4% in the first quarter. Arrowstreet Capital Limited Partnership now owns 671,700 shares of the company’s stock valued at $126,757,000 after acquiring an additional 244,901 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in Tenet Healthcare during the second quarter valued at approximately $106,342,000. Empowered Funds LLC raised its position in Tenet Healthcare by 22.1% during the first quarter. Empowered Funds LLC now owns 284,753 shares of the company’s stock valued at $53,736,000 after purchasing an additional 51,549 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its stake in Tenet Healthcare by 3,478.7% during the fourth quarter. Hsbc Holdings PLC now owns 266,400 shares of the company’s stock worth $53,269,000 after purchasing an additional 258,956 shares during the last quarter. 95.44% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Cantor Fitzgerald reissued an “overweight” rating on shares of Tenet Healthcare in a report on Friday, October 2nd. Piper Sandler set a $308.00 target price on shares of Tenet Healthcare in a report on Monday, July 27th. The Goldman Sachs Group restated a “buy” rating and issued a $305.00 price target on shares of Tenet Healthcare in a research report on Tuesday, July 28th. UBS Group raised their price target on shares of Tenet Healthcare from $288.00 to $308.00 and gave the company a “buy” rating in a research note on Monday, July 27th. Finally, Morgan Stanley raised their price target on shares of Tenet Healthcare from $254.00 to $274.00 and gave the stock an “overweight” rating in a report on Monday, July 27th. Eighteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $278.45.

Tenet Healthcare Stock Down 0.1%

THC stock opened at $268.13 on Monday. The company has a quick ratio of 1.35, a current ratio of 1.41 and a debt-to-equity ratio of 2.00. The stock’s 50 day moving average is $264.88 and its 200-day moving average is $222.13. Tenet Healthcare Corporation has a twelve month low of $157.58 and a twelve month high of $283.05. The firm has a market capitalization of $21.59 billion, a PE ratio of 10.34, a P/E/G ratio of 1.02 and a beta of 1.20.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings results on Thursday, July 23rd. The company reported $6.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.26 by $1.86. The company had revenue of $6.04 billion for the quarter, compared to analyst estimates of $5.43 billion. Tenet Healthcare had a net margin of 10.27% and a return on equity of 26.76%. The company’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.02 earnings per share. Sell-side analysts expect that Tenet Healthcare Corporation will post 21.04 EPS for the current fiscal year.

Insiders Place Their Bets

In other Tenet Healthcare news, CEO Saumya Sutaria sold 50,000 shares of the business’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $278.71, for a total transaction of $13,935,500.00. Following the sale, the chief executive officer owned 483,564 shares of the company’s stock, valued at $134,774,122.44. The trade was a 9.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Tammy Romo sold 4,922 shares of the stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $264.15, for a total value of $1,300,146.30. Following the sale, the director owned 30,784 shares in the company, valued at approximately $8,131,593.60. This represents a 13.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 116,484 shares of company stock worth $31,478,363 in the last three months. Insiders own 0.97% of the company’s stock.

Tenet Healthcare Company Profile

Tenet Healthcare Corp. (NYSE: THC) is a diversified healthcare services company headquartered in Dallas, Texas. Through its hospital operations and outpatient platforms, the company provides a range of medical services to patients across the United States.

Tenet operates acute care and specialty hospitals, ambulatory surgery centers, imaging facilities and other outpatient care sites. Its United Surgical Partners International subsidiary is a major provider of ambulatory surgery services and partners with physicians and health systems.