Eagle Asset Management Inc. Has $11 Million Stock Holdings in Tenet Healthcare Co. (NYSE:THC)

Eagle Asset Management Inc. boosted its holdings in Tenet Healthcare Co. (NYSE:THC) by 78.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 66,605 shares of the company’s stock after buying an additional 29,190 shares during the quarter. Eagle Asset Management Inc.’s holdings in Tenet Healthcare were worth $11,004,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Innealta Capital LLC bought a new stake in shares of Tenet Healthcare in the second quarter worth $28,000. Plato Investment Management Ltd acquired a new position in Tenet Healthcare during the 3rd quarter worth about $28,000. ORG Wealth Partners LLC bought a new stake in shares of Tenet Healthcare in the 3rd quarter valued at about $30,000. ORG Partners LLC bought a new position in shares of Tenet Healthcare during the second quarter worth about $31,000. Finally, Blue Trust Inc. lifted its stake in shares of Tenet Healthcare by 93.0% in the second quarter. Blue Trust Inc. now owns 249 shares of the company’s stock worth $33,000 after acquiring an additional 120 shares during the period. 95.44% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Richard W. Fisher sold 2,000 shares of the company’s 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 directly owns 14,227 shares of the company’s stock, valued at $2,328,533.09. This represents a 12.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider R. Scott Ramsey sold 11,599 shares of the business’s stock in a transaction on 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 completion of the transaction, the insider now directly owns 6,324 shares in the company, valued at approximately $1,024,867.44. This represents a 64.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 17,599 shares of company stock worth $2,830,834 over the last quarter. Insiders own 0.93% of the company’s stock.

Analysts Set New Price Targets

THC has been the topic of a number of recent analyst reports. Royal Bank of Canada boosted their price target on shares of Tenet Healthcare from $174.00 to $183.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Truist Financial reaffirmed a “buy” rating and set a $190.00 price target (up previously from $180.00) on shares of Tenet Healthcare in a research report on Wednesday, October 30th. Raymond James downgraded Tenet Healthcare from a “strong-buy” rating to an “outperform” rating and set a $195.00 price objective on the stock. in a research note on Friday. KeyCorp began coverage on Tenet Healthcare in a research note on Friday, October 11th. They set an “overweight” rating and a $200.00 target price for the company. Finally, Wells Fargo & Company increased their price target on Tenet Healthcare from $195.00 to $205.00 and gave the stock an “overweight” rating in a report on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $171.63.

Tenet Healthcare Trading Down 2.9 %

THC opened at $143.63 on Friday. The firm has a market capitalization of $13.66 billion, a PE ratio of 4.60, a P/E/G ratio of 0.66 and a beta of 2.15. The company has a debt-to-equity ratio of 2.35, a current ratio of 1.58 and a quick ratio of 1.52. Tenet Healthcare Co. has a fifty-two week low of $65.90 and a fifty-two week high of $171.20. The company’s 50-day moving average is $158.86 and its 200 day moving average is $148.04.

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, beating the consensus estimate of $2.33 by $0.60. The company had revenue of $5.12 billion for the quarter, compared to analysts’ expectations of $5.05 billion. Tenet Healthcare had a return on equity of 24.05% and a net margin of 14.91%. Tenet Healthcare’s quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.44 earnings per share. As a group, research analysts predict 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.