Thrivent Financial for Lutherans Sells 1,584 Shares of Tenet Healthcare Co. (NYSE:THC)

Thrivent Financial for Lutherans reduced its position in Tenet Healthcare Co. (NYSE:THC) by 4.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 37,157 shares of the company’s stock after selling 1,584 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Tenet Healthcare were worth $6,176,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Acadian Asset Management LLC raised its stake in Tenet Healthcare by 102.9% in the 1st quarter. Acadian Asset Management LLC now owns 4,455 shares of the company’s stock valued at $468,000 after acquiring an additional 2,259 shares during the period. Quadrature Capital Ltd lifted its stake in shares of Tenet Healthcare by 203.3% during the 1st quarter. Quadrature Capital Ltd now owns 11,091 shares of the company’s stock valued at $1,166,000 after buying an additional 7,434 shares in the last quarter. Bellevue Group AG grew its stake in Tenet Healthcare by 193.3% in the 1st quarter. Bellevue Group AG now owns 4,244 shares of the company’s stock valued at $446,000 after buying an additional 2,797 shares in the last quarter. Paloma Partners Management Co bought a new stake in Tenet Healthcare during the 1st quarter valued at $354,000. Finally, Kingdon Capital Management L.L.C. boosted its holdings in shares of Tenet Healthcare by 335.8% in the first quarter. Kingdon Capital Management L.L.C. now owns 278,700 shares of the company’s stock worth $29,294,000 after acquiring an additional 214,750 shares during the period. 95.44% of the stock is currently owned by institutional investors.

Insider Activity at Tenet Healthcare

In other news, Director Richard W. Fisher sold 2,000 shares of the stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $163.67, for a total value of $327,340.00. Following the completion of the transaction, the director now owns 14,227 shares of the company’s stock, valued at approximately $2,328,533.09. This represents a 12.33 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Lisa Y. Foo sold 4,000 shares of the business’s stock in a transaction 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 sale, the executive vice president now owns 15,566 shares in the company, valued at approximately $2,427,362.04. This trade represents a 20.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 17,599 shares of company stock worth $2,830,834 over the last quarter. Corporate insiders own 0.93% of the company’s stock.

Tenet Healthcare Trading Down 2.9 %

NYSE THC opened at $143.63 on Friday. The company has a current ratio of 1.58, a quick ratio of 1.52 and a debt-to-equity ratio of 2.35. The stock has a 50-day moving average of $158.86 and a 200-day moving average of $148.04. The firm has a market cap of $13.66 billion, a PE ratio of 4.60, a price-to-earnings-growth ratio of 0.66 and a beta of 2.15. Tenet Healthcare Co. has a 1-year low of $65.90 and a 1-year high of $171.20.

Tenet Healthcare (NYSE:THC) last released its quarterly earnings data on Tuesday, October 29th. The company reported $2.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.33 by $0.60. The firm had revenue of $5.12 billion for the quarter, compared to analysts’ expectations of $5.05 billion. Tenet Healthcare had a net margin of 14.91% and a return on equity of 24.05%. The company’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.44 earnings per share. As a group, sell-side analysts forecast that Tenet Healthcare Co. will post 11.38 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on THC. UBS Group increased their price objective on Tenet Healthcare from $197.00 to $217.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Barclays raised their price objective on shares of Tenet Healthcare from $171.00 to $190.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Wells Fargo & Company upped their target price on shares of Tenet Healthcare from $195.00 to $205.00 and gave the stock an “overweight” rating in a report on Wednesday, November 6th. Raymond James lowered shares of Tenet Healthcare from a “strong-buy” rating to an “outperform” rating and set a $195.00 price target for the company. in a research report on Friday. Finally, The Goldman Sachs Group increased their price objective on Tenet Healthcare from $173.00 to $196.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price 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.