Tenet Healthcare Corporation $THC Shares Sold by New Mexico Educational Retirement Board

New Mexico Educational Retirement Board reduced its holdings in Tenet Healthcare Corporation (NYSE:THC) by 10.6% during the 3rd quarter, Holdings Channel reports. The fund owned 16,900 shares of the company’s stock after selling 2,000 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Tenet Healthcare were worth $4,319,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in the business. V Square Quantitative Management LLC acquired a new position in Tenet Healthcare during the 3rd quarter worth $26,000. Mather Group LLC. grew its stake in shares of Tenet Healthcare by 126.9% in the third quarter. Mather Group LLC. now owns 118 shares of the company’s stock worth $30,000 after purchasing an additional 66 shares in the last quarter. Trust Co. of Vermont acquired a new position in shares of Tenet Healthcare during the second quarter valued at $37,000. MADDEN SECURITIES Corp bought a new stake in shares of Tenet Healthcare during the third quarter valued at about $38,000. Finally, Compass Financial Management LLC bought a new stake in shares of Tenet Healthcare during the second quarter valued at about $57,000. Institutional investors own 95.44% of the company’s stock.

Insider Buying and Selling at Tenet Healthcare

In other Tenet Healthcare news, CEO Saumya Sutaria sold 50,000 shares of Tenet Healthcare stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $278.71, for a total transaction of $13,935,500.00. Following the transaction, 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Lisa Foo sold 24,000 shares of the business’s stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $266.32, for a total transaction of $6,391,680.00. Following the transaction, the executive vice president directly owned 8,053 shares in the company, valued at $2,144,674.96. The trade was a 74.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 98,462 shares of company stock valued at $26,788,234 in the last ninety days. Company insiders own 0.97% of the company’s stock.

Tenet Healthcare Trading Up 1.0%

Shares of THC stock opened at $293.09 on Thursday. The stock has a 50-day simple moving average of $266.81 and a 200 day simple moving average of $223.91. Tenet Healthcare Corporation has a fifty-two week low of $157.58 and a fifty-two week high of $301.44. The stock has a market capitalization of $23.33 billion, a P/E ratio of 8.50, a P/E/G ratio of 1.55 and a beta of 1.20. The company has a quick ratio of 1.52, a current ratio of 1.58 and a debt-to-equity ratio of 1.76.

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. The firm had revenue of $6.28 billion during the quarter, compared to analysts’ expectations of $5.49 billion. Tenet Healthcare had a net margin of 13.09% and a return on equity of 28.22%. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period last year, the firm posted $3.70 earnings per share. On average, sell-side analysts expect that Tenet Healthcare Corporation will post 22.32 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on THC shares. Piper Sandler set a $308.00 target price on shares of Tenet Healthcare in a research report on Monday, July 27th. Cantor Fitzgerald restated an “overweight” rating on shares of Tenet Healthcare in a research report on Friday, October 2nd. Stephens reaffirmed an “overweight” rating and issued a $285.00 price target on shares of Tenet Healthcare in a research note on Monday, July 27th. Leerink Partners increased their price objective on shares of Tenet Healthcare from $309.00 to $342.00 and gave the company an “outperform” rating in a report on Monday, November 2nd. Finally, BMO Capital Markets assumed coverage on shares of Tenet Healthcare in a research note on Tuesday, September 22nd. They set a “market perform” rating and a $265.00 price objective on the stock. Twenty analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Tenet Healthcare currently has a consensus rating of “Moderate Buy” and a consensus price target of $293.48.

Tenet Healthcare Profile

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.