Caprock Group LLC Has $652,000 Stake in Tenet Healthcare Co. (NYSE:THC)

Caprock Group LLC increased its holdings in shares of Tenet Healthcare Co. (NYSE:THC) by 9.4% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 3,922 shares of the company’s stock after purchasing an additional 337 shares during the period. Caprock Group LLC’s holdings in Tenet Healthcare were worth $652,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in THC. Innealta Capital LLC bought a new position in Tenet Healthcare during the second quarter worth $28,000. Plato Investment Management Ltd acquired a new position in shares of Tenet Healthcare during the third quarter valued at about $28,000. ORG Wealth Partners LLC acquired a new stake in Tenet Healthcare during the third quarter worth about $30,000. ORG Partners LLC acquired a new position in Tenet Healthcare in the 2nd quarter valued at approximately $31,000. Finally, Blue Trust Inc. lifted its position in shares of Tenet Healthcare by 93.0% in the 2nd 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. Institutional investors and hedge funds own 95.44% of the company’s stock.

Tenet Healthcare Stock Down 2.9 %

Shares of THC opened at $143.57 on Friday. The business’s fifty day moving average price is $158.86 and its two-hundred day moving average price is $147.87. The firm has a market capitalization of $13.65 billion, a price-to-earnings ratio of 4.60, a PEG ratio of 0.69 and a beta of 2.15. Tenet Healthcare Co. has a 52 week low of $65.90 and a 52 week high of $171.20. The company has a debt-to-equity ratio of 2.35, a quick ratio of 1.52 and a current ratio of 1.58.

Tenet Healthcare (NYSE:THC) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $2.93 EPS for the quarter, topping analysts’ consensus estimates of $2.33 by $0.60. The firm had revenue of $5.12 billion during the quarter, compared to analyst estimates of $5.05 billion. Tenet Healthcare had a return on equity of 24.05% and a net margin of 14.91%. The company’s revenue was up 1.1% on a year-over-year basis. During the same period last year, the company earned $1.44 earnings per share. On average, analysts predict that Tenet Healthcare Co. will post 11.38 earnings per share for the current year.

Insider Buying and Selling at Tenet Healthcare

In related news, Director Richard W. Fisher sold 2,000 shares of Tenet Healthcare stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $163.67, for a total transaction of $327,340.00. Following the completion of the sale, the director now directly owns 14,227 shares of the company’s stock, 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Lisa Y. Foo sold 4,000 shares of the stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $155.94, for a total value of $623,760.00. Following the completion of the transaction, the executive vice president now directly owns 15,566 shares in the company, valued at $2,427,362.04. The trade was a 20.44 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 17,599 shares of company stock valued at $2,830,834. 0.93% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages recently commented on THC. Wells Fargo & Company raised their target price on Tenet Healthcare from $195.00 to $205.00 and gave the stock an “overweight” rating in a research 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. Cantor Fitzgerald lifted their price objective on Tenet Healthcare from $168.00 to $177.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. The Goldman Sachs Group boosted their price target on Tenet Healthcare from $173.00 to $196.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, UBS Group increased their price objective on Tenet Healthcare from $197.00 to $217.00 and gave the stock a “buy” rating in a research note 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 given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $171.63.

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.