MML Investors Services LLC Has $1.90 Million Stake in Tenet Healthcare Co. (NYSE:THC)

MML Investors Services LLC boosted its position in Tenet Healthcare Co. (NYSE:THC) by 3.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,409 shares of the company’s stock after acquiring an additional 417 shares during the quarter. MML Investors Services LLC’s holdings in Tenet Healthcare were worth $1,896,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Innealta Capital LLC bought a new stake in shares of Tenet Healthcare during the 2nd quarter worth $28,000. Plato Investment Management Ltd bought a new position in shares of Tenet Healthcare in the third quarter worth about $28,000. ORG Wealth Partners LLC bought a new stake in shares of Tenet Healthcare during the third quarter worth $30,000. Blue Trust Inc. increased 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 valued at $33,000 after buying an additional 120 shares during the period. Finally, Kayne Anderson Rudnick Investment Management LLC bought a new position in Tenet Healthcare during the 2nd quarter worth $34,000. 95.44% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Tenet Healthcare news, EVP Lisa Y. Foo sold 4,000 shares of the company’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $155.94, for a total value 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 $2,427,362.04. This represents a 20.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.93% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on THC. The Goldman Sachs Group lowered shares of Tenet Healthcare from a “buy” rating to a “neutral” rating and dropped their target price for the company from $196.00 to $140.00 in a report on Monday. Wells Fargo & Company lowered shares of Tenet Healthcare from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $205.00 to $150.00 in a research note on Monday, November 25th. Cantor Fitzgerald upped their target price on shares of Tenet Healthcare from $168.00 to $177.00 and gave the stock an “overweight” rating in a research note 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 for the company. in a research note on Friday, November 22nd. Finally, KeyCorp started coverage on Tenet Healthcare in a research note on Friday, October 11th. They issued an “overweight” rating and a $200.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating, twelve have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $164.69.

Tenet Healthcare Stock Performance

NYSE THC opened at $133.73 on Tuesday. The company’s 50 day simple moving average is $151.70 and its two-hundred day simple moving average is $149.39. The stock has a market capitalization of $12.72 billion, a PE ratio of 4.28, a P/E/G ratio of 0.63 and a beta of 2.06. 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 1 year low of $73.21 and a 1 year high of $171.20.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings data 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. Tenet Healthcare had a return on equity of 24.05% and a net margin of 14.91%. The company had revenue of $5.12 billion during the quarter, compared to analyst estimates of $5.05 billion. During the same quarter last year, the company earned $1.44 earnings per share. The firm’s quarterly revenue was up 1.1% on a year-over-year basis. Analysts predict that Tenet Healthcare Co. will post 11.38 earnings per share for the current fiscal year.

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.