Dynamic Technology Lab Private Ltd Has $575,000 Holdings in Tenet Healthcare Co. (NYSE:THC)

Dynamic Technology Lab Private Ltd lowered its position in Tenet Healthcare Co. (NYSE:THC) by 88.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,461 shares of the company’s stock after selling 27,711 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Tenet Healthcare were worth $575,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of THC. Plato Investment Management Ltd bought a new position in Tenet Healthcare during the third quarter worth about $28,000. ORG Wealth Partners LLC acquired a new position in shares of Tenet Healthcare during the 3rd quarter worth approximately $30,000. Financial Management Professionals Inc. raised its stake in Tenet Healthcare by 2,222.2% in the 3rd quarter. Financial Management Professionals Inc. now owns 209 shares of the company’s stock valued at $35,000 after acquiring an additional 200 shares during the period. Innealta Capital LLC bought a new position in Tenet Healthcare during the second quarter worth $28,000. Finally, ORG Partners LLC acquired a new position in shares of Tenet Healthcare in the second quarter valued at $31,000. Institutional investors own 95.44% of the company’s stock.

Wall Street Analyst Weigh In

THC has been the subject of several research analyst reports. KeyCorp initiated coverage on shares of Tenet Healthcare in a report on Friday, October 11th. They set an “overweight” rating and a $200.00 target price for the company. The Goldman Sachs Group upped their target price on Tenet Healthcare from $173.00 to $196.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. UBS Group boosted their price target on Tenet Healthcare from $197.00 to $217.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Barclays increased their price objective on Tenet Healthcare from $171.00 to $190.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Finally, Truist Financial restated a “buy” rating and issued a $190.00 price target (up from $180.00) on shares of Tenet Healthcare in a research note on Wednesday, October 30th. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $168.19.

Insider Buying and Selling at Tenet Healthcare

In related news, insider R. Scott Ramsey sold 11,599 shares of the firm’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $162.06, for a total transaction of $1,879,733.94. Following the sale, the insider now owns 6,324 shares of the company’s stock, valued at $1,024,867.44. This trade represents a 64.72 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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 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 disclosure for this sale can be found here. Company insiders own 0.93% of the company’s stock.

Tenet Healthcare Trading Down 2.5 %

Shares of THC stock opened at $141.98 on Friday. Tenet Healthcare Co. has a fifty-two week low of $65.90 and a fifty-two week high of $171.20. The stock’s fifty day moving average price is $157.82 and its two-hundred day moving average price is $148.41. The company has a debt-to-equity ratio of 2.35, a quick ratio of 1.52 and a current ratio of 1.58. The company has a market cap of $13.50 billion, a PE ratio of 4.55, a P/E/G ratio of 0.64 and a beta of 2.15.

Tenet Healthcare (NYSE:THC) last released its earnings results on Tuesday, October 29th. The company reported $2.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.33 by $0.60. Tenet Healthcare had a return on equity of 24.05% and a net margin of 14.91%. The firm had revenue of $5.12 billion for the quarter, compared to analysts’ expectations of $5.05 billion. During the same quarter in the previous year, the business posted $1.44 earnings per share. The business’s revenue for the quarter was up 1.1% on a year-over-year basis. Equities analysts predict that Tenet Healthcare Co. will post 11.38 EPS 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.