Caprock Group LLC Has $652,000 Stake in Tenet Healthcare Co. (NYSE:THC)

Caprock Group LLC boosted its position in shares of Tenet Healthcare Co. (NYSE:THC) by 9.4% in the third quarter, Holdings Channel.com reports. The firm owned 3,922 shares of the company’s stock after acquiring an additional 337 shares during the period. Caprock Group LLC’s holdings in Tenet Healthcare were worth $652,000 as of its most recent SEC filing.

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

Insider Activity

In other news, EVP Lisa Y. Foo sold 4,000 shares of the company’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $155.94, for a total transaction of $623,760.00. Following the completion of the sale, the executive vice president now 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 SEC, which is accessible through this hyperlink. Also, insider R. Scott Ramsey sold 11,599 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $162.06, for a total transaction of $1,879,733.94. Following the transaction, the insider now owns 6,324 shares of the company’s stock, valued at approximately $1,024,867.44. This represents a 64.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 17,599 shares of company stock worth $2,830,834. 0.93% of the stock is currently owned by company insiders.

Tenet Healthcare Stock Down 2.9 %

THC opened at $143.57 on Friday. The company has a debt-to-equity ratio of 2.35, a quick ratio of 1.52 and a current ratio of 1.58. The stock has a fifty day moving average of $158.86 and a 200-day moving average of $147.87. Tenet Healthcare Co. has a fifty-two week low of $65.90 and a fifty-two week high of $171.20. The company has a market capitalization of $13.65 billion, a P/E ratio of 4.60, a P/E/G ratio of 0.69 and a beta of 2.15.

Tenet Healthcare (NYSE:THC) last announced its earnings results 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. Tenet Healthcare had a net margin of 14.91% and a return on equity of 24.05%. The firm had revenue of $5.12 billion for the quarter, compared to analyst estimates of $5.05 billion. During the same quarter in the prior year, the business posted $1.44 EPS. The business’s revenue was up 1.1% compared to the same quarter last year. On average, equities analysts expect that Tenet Healthcare Co. will post 11.38 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on THC. Truist Financial reiterated a “buy” rating and set a $190.00 target price (up previously from $180.00) on shares of Tenet Healthcare in a report on Wednesday, October 30th. Wells Fargo & Company increased their price objective on Tenet Healthcare from $195.00 to $205.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. KeyCorp started coverage on shares of Tenet Healthcare in a report on Friday, October 11th. They set an “overweight” rating and a $200.00 target price on the stock. UBS Group lifted their price objective on shares of Tenet Healthcare from $197.00 to $217.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, 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 report on Wednesday, October 30th. One research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $171.63.

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.