Dynamic Technology Lab Private Ltd Sells 27,711 Shares of Tenet Healthcare Co. (NYSE:THC)

Dynamic Technology Lab Private Ltd lessened its position in shares of Tenet Healthcare Co. (NYSE:THC) by 88.9% in the third quarter, according to its most recent filing with the SEC. The firm owned 3,461 shares of the company’s stock after selling 27,711 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Tenet Healthcare were worth $575,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Optas LLC raised its stake in Tenet Healthcare by 3.4% during the third quarter. Optas LLC now owns 2,821 shares of the company’s stock worth $469,000 after buying an additional 93 shares during the last quarter. Signaturefd LLC raised its position in shares of Tenet Healthcare by 17.6% in the 3rd quarter. Signaturefd LLC now owns 628 shares of the company’s stock worth $104,000 after acquiring an additional 94 shares in the last quarter. CIBC Asset Management Inc boosted its position in shares of Tenet Healthcare by 3.4% during the 3rd quarter. CIBC Asset Management Inc now owns 2,887 shares of the company’s stock valued at $480,000 after purchasing an additional 94 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in Tenet Healthcare by 20.7% during the second quarter. EverSource Wealth Advisors LLC now owns 560 shares of the company’s stock worth $74,000 after purchasing an additional 96 shares during the period. Finally, First Citizens Bank & Trust Co. lifted its stake in Tenet Healthcare by 5.1% in the third quarter. First Citizens Bank & Trust Co. now owns 2,226 shares of the company’s stock valued at $370,000 after buying an additional 109 shares during the period. Institutional investors own 95.44% of the company’s stock.

Analyst Upgrades and Downgrades

THC has been the subject of several research analyst reports. Barclays lifted their price objective on shares of Tenet Healthcare from $171.00 to $190.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. The Goldman Sachs Group upped their price objective on shares of Tenet Healthcare from $173.00 to $196.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Cantor Fitzgerald boosted their target price on Tenet Healthcare from $168.00 to $177.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. UBS Group increased their price target on Tenet Healthcare from $197.00 to $217.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, Wells Fargo & Company lowered Tenet Healthcare from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $205.00 to $150.00 in a research report on Monday. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $168.19.

Insider Activity at Tenet Healthcare

In related news, insider R. Scott Ramsey sold 11,599 shares of the business’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $162.06, for a total value of $1,879,733.94. Following the sale, the insider now directly owns 6,324 shares in the company, valued at approximately $1,024,867.44. The trade was a 64.72 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Lisa Y. Foo sold 4,000 shares of the 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 transaction, the executive vice president now owns 15,566 shares of the company’s stock, valued at $2,427,362.04. This represents a 20.44 % decrease in their position. The disclosure for this sale can be found here. 0.93% of the stock is owned by company insiders.

Tenet Healthcare Trading Down 2.5 %

NYSE:THC opened at $141.98 on Friday. Tenet Healthcare Co. has a 52 week low of $65.90 and a 52 week high of $171.20. The firm has a 50-day moving average price of $157.82 and a two-hundred day moving average price of $148.41. The firm has a market cap of $13.50 billion, a price-to-earnings ratio of 4.55, a price-to-earnings-growth ratio of 0.64 and a beta of 2.15. 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 (NYSE:THC) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $2.93 earnings per share for the quarter, topping the consensus estimate of $2.33 by $0.60. Tenet Healthcare had a return on equity of 24.05% and a net margin of 14.91%. The business had revenue of $5.12 billion for the quarter, compared to analysts’ expectations of $5.05 billion. During the same quarter in the previous year, the firm earned $1.44 earnings per share. The business’s revenue was up 1.1% on a year-over-year basis. On average, equities analysts expect that Tenet Healthcare Co. will post 11.38 earnings per share for the current fiscal year.

Tenet Healthcare Company 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.