Hancock Whitney Corp Boosts Stock Position in Tenet Healthcare Co. (NYSE:THC)

Hancock Whitney Corp lifted its stake in shares of Tenet Healthcare Co. (NYSE:THC) by 175.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 94,826 shares of the company’s stock after purchasing an additional 60,453 shares during the quarter. Hancock Whitney Corp owned 0.10% of Tenet Healthcare worth $15,760,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Acadian Asset Management LLC increased its position in shares of Tenet Healthcare by 102.9% during the first quarter. Acadian Asset Management LLC now owns 4,455 shares of the company’s stock valued at $468,000 after buying an additional 2,259 shares during the period. Quadrature Capital Ltd increased its holdings in Tenet Healthcare by 203.3% during the 1st quarter. Quadrature Capital Ltd now owns 11,091 shares of the company’s stock worth $1,166,000 after acquiring an additional 7,434 shares during the period. B. Riley Wealth Advisors Inc. boosted its holdings in Tenet Healthcare by 10.3% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 4,148 shares of the company’s stock valued at $436,000 after purchasing an additional 387 shares during the period. 8 Knots Management LLC grew its position in shares of Tenet Healthcare by 74.5% during the 1st quarter. 8 Knots Management LLC now owns 1,025,730 shares of the company’s stock valued at $107,814,000 after purchasing an additional 438,033 shares in the last quarter. Finally, Redwood Investment Management LLC purchased a new stake in shares of Tenet Healthcare in the first quarter worth $1,513,000. Hedge funds and other institutional investors own 95.44% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Royal Bank of Canada upped their target price on Tenet Healthcare from $174.00 to $183.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. KeyCorp initiated coverage on shares of Tenet Healthcare in a research report on Friday, October 11th. They issued an “overweight” rating and a $200.00 price objective on the stock. UBS Group lifted their target price 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. Raymond James lowered shares of Tenet Healthcare from a “strong-buy” rating to an “outperform” rating and set a $195.00 price target on the stock. in a report on Friday. Finally, The Goldman Sachs Group upped their target price on shares of Tenet Healthcare from $173.00 to $196.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $168.19.

Tenet Healthcare Stock Down 0.8 %

Shares of NYSE:THC opened at $142.50 on Monday. The company has a current ratio of 1.58, a quick ratio of 1.52 and a debt-to-equity ratio of 2.35. Tenet Healthcare Co. has a 12-month low of $65.90 and a 12-month high of $171.20. The stock’s 50-day moving average price is $158.86 and its 200-day moving average price is $148.21. The stock has a market capitalization of $13.55 billion, a P/E ratio of 4.60, a price-to-earnings-growth ratio of 0.64 and a beta of 2.15.

Tenet Healthcare (NYSE:THC) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $2.93 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $5.05 billion. During the same period in the prior year, the firm posted $1.44 earnings per share. The company’s quarterly revenue was up 1.1% compared to the same quarter last year. On average, equities analysts anticipate that Tenet Healthcare Co. will post 11.38 earnings per share for the current year.

Insider Activity at Tenet Healthcare

In related news, Director Richard W. Fisher sold 2,000 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $163.67, for a total transaction of $327,340.00. Following the transaction, the director now owns 14,227 shares in the company, valued at $2,328,533.09. The trade was a 12.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Lisa Y. Foo sold 4,000 shares of the firm’s 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 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 trade represents a 20.44 % decrease in their ownership of the stock. 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 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.