Tenet Healthcare Corporation $THC Holdings Lifted by Kestra Advisory Services LLC

Kestra Advisory Services LLC lifted its holdings in Tenet Healthcare Corporation (NYSE:THC) by 211.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 18,898 shares of the company’s stock after acquiring an additional 12,827 shares during the period. Kestra Advisory Services LLC’s holdings in Tenet Healthcare were worth $4,830,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Manning & Napier Advisors LLC bought a new stake in shares of Tenet Healthcare during the 2nd quarter valued at $168,761,000. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Tenet Healthcare by 57.4% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 671,700 shares of the company’s stock worth $126,757,000 after acquiring an additional 244,901 shares during the period. Bank of New York Mellon Corp acquired a new stake in shares of Tenet Healthcare during the 2nd quarter worth 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, First Trust Advisors LP boosted its holdings in shares of Tenet Healthcare by 11.8% in the 1st quarter. First Trust Advisors LP now owns 240,019 shares of the company’s stock valued at $45,294,000 after purchasing an additional 25,263 shares in the last quarter. Institutional investors own 95.44% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Raymond James Financial restated an “outperform” rating and set a $285.00 price objective on shares of Tenet Healthcare in a research report on Friday, August 14th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Tenet Healthcare in a research note on Friday, October 2nd. UBS Group boosted their price objective on Tenet Healthcare from $288.00 to $308.00 and gave the stock a “buy” rating in a research report on Monday, July 27th. Morgan Stanley lifted their price target on Tenet Healthcare from $254.00 to $274.00 and gave the company an “overweight” rating in a research note on Monday, July 27th. Finally, Wall Street Zen upgraded shares of Tenet Healthcare from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 17th. Nineteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Tenet Healthcare currently has a consensus rating of “Moderate Buy” and a consensus target price of $296.65.

Tenet Healthcare Stock Down 2.1%

THC stock opened at $286.86 on Friday. The stock’s 50 day simple moving average is $267.37 and its 200 day simple moving average is $224.39. The company has a market cap of $22.83 billion, a P/E ratio of 8.32, a price-to-earnings-growth ratio of 1.57 and a beta of 1.20. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.52 and a current ratio of 1.58. Tenet Healthcare Corporation has a fifty-two week low of $157.58 and a fifty-two week high of $301.44.

Tenet Healthcare (NYSE:THC) last issued its earnings results on Thursday, October 29th. The company reported $6.64 earnings per share for the quarter, topping analysts’ consensus estimates of $4.68 by $1.96. Tenet Healthcare had a return on equity of 28.22% and a net margin of 13.09%. The company had revenue of $6.28 billion for the quarter, compared to analyst estimates of $5.49 billion. During the same period in the prior year, the firm earned $3.70 earnings per share. Tenet Healthcare’s revenue for the quarter was up 6.5% on a year-over-year basis. On average, research analysts expect that Tenet Healthcare Corporation will post 22.32 earnings per share for the current fiscal year.

Insider Buying and Selling at Tenet Healthcare

In other Tenet Healthcare news, Director J. Robert Kerrey sold 12,010 shares of the stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $263.72, for a total value of $3,167,277.20. Following the completion of the sale, the director owned 4,794 shares in the company, valued at approximately $1,264,273.68. This trade represents a 71.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Nadja West sold 1,152 shares of the stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $258.80, for a total value of $298,137.60. Following the sale, the director directly owned 23,653 shares of the company’s stock, valued at $6,121,396.40. The trade was a 4.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 98,462 shares of company stock valued at $26,788,234 in the last three months. Insiders own 0.97% of the company’s stock.

About Tenet Healthcare

Tenet Healthcare Corporation is a U.S.-based healthcare services company that operates acute care hospitals and provides related inpatient and outpatient services. Its hospitals offer services across areas such as emergency care, surgery, imaging and specialty treatment. Through its subsidiary United Surgical Partners International (USPI), Tenet also operates ambulatory surgery centers and surgical hospitals, providing outpatient surgical and procedural care. The company’s Conifer Health Solutions business provides revenue cycle management and other administrative services to healthcare providers.