Tenet Healthcare Corporation $THC Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. reduced its stake in Tenet Healthcare Corporation (NYSE:THC) by 27.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,478 shares of the company’s stock after selling 4,316 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Tenet Healthcare were worth $2,330,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Boston Partners lifted its position in Tenet Healthcare by 95.0% in the second quarter. Boston Partners now owns 2,267,142 shares of the company’s stock valued at $398,949,000 after acquiring an additional 1,104,500 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Tenet Healthcare by 8.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,119,423 shares of the company’s stock valued at $373,020,000 after purchasing an additional 157,109 shares during the last quarter. Norges Bank acquired a new stake in shares of Tenet Healthcare in the 2nd quarter valued at about $206,981,000. AQR Capital Management LLC increased its position in Tenet Healthcare by 28.0% during the second quarter. AQR Capital Management LLC now owns 1,156,263 shares of the company’s stock worth $200,224,000 after buying an additional 252,993 shares during the period. Finally, Alliancebernstein L.P. lifted its stake in Tenet Healthcare by 375.7% in the second quarter. Alliancebernstein L.P. now owns 790,254 shares of the company’s stock valued at $139,085,000 after buying an additional 624,125 shares during the last quarter. Institutional investors and hedge funds own 95.44% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on THC shares. Royal Bank Of Canada upped their price target on shares of Tenet Healthcare from $230.00 to $252.00 and gave the company an “outperform” rating in a research report on Thursday, October 30th. Morgan Stanley reaffirmed an “overweight” rating and issued a $247.00 target price on shares of Tenet Healthcare in a report on Thursday, December 18th. Barclays raised their price target on Tenet Healthcare from $229.00 to $240.00 and gave the stock an “overweight” rating in a report on Friday, November 21st. Mizuho increased their price objective on Tenet Healthcare from $194.00 to $225.00 and gave the stock an “outperform” rating in a research report on Friday, October 17th. Finally, Weiss Ratings upgraded Tenet Healthcare from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Tenet Healthcare has a consensus rating of “Moderate Buy” and an average target price of $233.81.

Tenet Healthcare Stock Performance

Shares of THC opened at $189.91 on Tuesday. The company has a market capitalization of $16.69 billion, a PE ratio of 13.02, a P/E/G ratio of 0.80 and a beta of 1.41. Tenet Healthcare Corporation has a 52-week low of $109.82 and a 52-week high of $222.82. The company has a 50-day simple moving average of $201.04 and a 200-day simple moving average of $191.75. The company has a quick ratio of 1.64, a current ratio of 1.71 and a debt-to-equity ratio of 2.27.

Tenet Healthcare (NYSE:THC) last issued its earnings results on Tuesday, October 28th. The company reported $3.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.33 by $0.37. The company had revenue of $5.29 billion during the quarter, compared to analysts’ expectations of $5.26 billion. Tenet Healthcare had a net margin of 6.49% and a return on equity of 25.11%. The firm’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same period last year, the company posted $2.93 earnings per share. Equities research analysts predict that Tenet Healthcare Corporation will post 12.24 earnings per share for the current fiscal year.

Insider Transactions at Tenet Healthcare

In other Tenet Healthcare news, insider R. Scott Ramsey sold 13,322 shares of the firm’s stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $205.11, for a total transaction of $2,732,475.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Tammy Romo sold 645 shares of the company’s stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $205.20, for a total transaction of $132,354.00. Following the completion of the sale, the director directly owned 34,866 shares in the company, valued at $7,154,503.20. This trade represents a 1.82% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 45,500 shares of company stock valued at $9,247,071 in the last three months. 0.81% of the stock is owned by company insiders.

Tenet Healthcare Profile

Tenet Healthcare Corporation (NYSE: THC) is a diversified American healthcare services company that owns and operates acute care hospitals and a broad range of outpatient facilities. Its portfolio includes general acute-care hospitals, specialty hospitals, ambulatory surgery centers, urgent care and diagnostic imaging centers, and other ancillary service locations. Tenet’s operations are oriented around delivering inpatient and outpatient clinical care across multiple medical specialties, with an emphasis on surgical services, emergency care, and advanced diagnostics.

In addition to facility-based care, Tenet provides integrated services designed to support clinical operations and improve patient access and care coordination.