SG Americas Securities LLC Increases Position in Tenet Healthcare Co. (NYSE:THC)

SG Americas Securities LLC boosted its stake in Tenet Healthcare Co. (NYSE:THC) by 81.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,077 shares of the company’s stock after acquiring an additional 3,637 shares during the period. SG Americas Securities LLC’s holdings in Tenet Healthcare were worth $1,020,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Legacy Capital Group California Inc. purchased a new position in shares of Tenet Healthcare during the 3rd quarter worth $1,055,000. Signet Financial Management LLC acquired a new stake in Tenet Healthcare in the 4th quarter worth about $1,526,000. Intech Investment Management LLC increased its stake in shares of Tenet Healthcare by 44.4% during the 3rd quarter. Intech Investment Management LLC now owns 79,266 shares of the company’s stock valued at $13,174,000 after acquiring an additional 24,385 shares during the last quarter. Swiss National Bank boosted its position in shares of Tenet Healthcare by 8.7% in the third quarter. Swiss National Bank now owns 190,800 shares of the company’s stock worth $31,711,000 after acquiring an additional 15,200 shares during the last quarter. Finally, Estate Counselors LLC purchased a new stake in Tenet Healthcare in the third quarter valued at approximately $1,792,000. 95.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

THC has been the subject of several research reports. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $175.00 price objective on shares of Tenet Healthcare in a research note on Tuesday, December 17th. Raymond James cut shares of Tenet Healthcare from a “strong-buy” rating to an “outperform” rating and set a $195.00 price target on the stock. in a report on Friday, November 22nd. Barclays raised their price objective on shares of Tenet Healthcare from $171.00 to $190.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. KeyCorp cut their target price on shares of Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. Finally, Truist Financial lowered their price objective on Tenet Healthcare from $190.00 to $175.00 and set a “buy” rating for the company in a report on Monday, January 6th. Three investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Tenet Healthcare presently has a consensus rating of “Moderate Buy” and a consensus price target of $165.00.

Insiders Place Their Bets

In other news, EVP Lisa Y. Foo sold 4,000 shares of the company’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $155.94, for a total transaction of $623,760.00. Following the sale, the executive vice president now directly owns 15,566 shares in the company, valued at $2,427,362.04. This represents a 20.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.93% of the company’s stock.

Tenet Healthcare Trading Up 0.7 %

Shares of Tenet Healthcare stock opened at $139.93 on Wednesday. The company has a debt-to-equity ratio of 2.35, a quick ratio of 1.52 and a current ratio of 1.58. Tenet Healthcare Co. has a 52 week low of $82.15 and a 52 week high of $171.20. The stock has a 50 day moving average price of $134.38 and a two-hundred day moving average price of $148.30. The stock has a market capitalization of $13.31 billion, a PE ratio of 4.48, a price-to-earnings-growth ratio of 0.60 and a beta of 2.06.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $2.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.33 by $0.60. The firm had revenue of $5.12 billion for the quarter, compared to the consensus estimate of $5.05 billion. Tenet Healthcare had a net margin of 14.91% and a return on equity of 24.05%. The business’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.44 EPS. As a group, equities analysts anticipate that Tenet Healthcare Co. will post 11.37 earnings per share for the current fiscal year.

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.