Orange Investment Advisors Inc. Sells 2,286 Shares of Tenet Healthcare Corporation $THC

Orange Investment Advisors Inc. lowered its position in shares of Tenet Healthcare Corporation (NYSE:THC) by 8.7% in the 3rd quarter, Holdings Channel.com reports. The fund owned 23,933 shares of the company’s stock after selling 2,286 shares during the period. Orange Investment Advisors Inc.’s holdings in Tenet Healthcare were worth $6,116,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of THC. V Square Quantitative Management LLC purchased a new stake in Tenet Healthcare in the 3rd quarter worth approximately $26,000. Mather Group LLC. grew its position in shares of Tenet Healthcare by 126.9% during the 3rd quarter. Mather Group LLC. now owns 118 shares of the company’s stock valued at $30,000 after purchasing an additional 66 shares in the last quarter. Trust Co. of Vermont purchased a new position in shares of Tenet Healthcare during the 2nd quarter valued at $37,000. OP Asset Management Ltd bought a new position in shares of Tenet Healthcare in the first quarter worth $49,000. Finally, Compass Financial Management LLC bought a new position in shares of Tenet Healthcare in the second quarter worth $57,000. Institutional investors own 95.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Zacks Research downgraded Tenet Healthcare from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 29th. UBS Group boosted their target price on Tenet Healthcare from $288.00 to $308.00 and gave the stock a “buy” rating in a research report on Monday, July 27th. Weiss Ratings upgraded Tenet Healthcare from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, October 8th. Royal Bank Of Canada raised their price target on Tenet Healthcare from $236.00 to $283.00 and gave the company an “outperform” rating in a report on Monday, July 27th. Finally, Leerink Partners reiterated an “outperform” rating and set a $309.00 price target on shares of Tenet Healthcare in a research report on Friday, September 18th. Eighteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Tenet Healthcare presently has a consensus rating of “Moderate Buy” and a consensus price target of $278.45.

Tenet Healthcare Price Performance

Shares of NYSE:THC opened at $268.13 on Monday. The company’s fifty day moving average price is $264.88 and its 200-day moving average price is $222.13. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.41 and a quick ratio of 1.35. The firm has a market capitalization of $21.59 billion, a price-to-earnings ratio of 10.34, a PEG ratio of 1.02 and a beta of 1.20. Tenet Healthcare Corporation has a one year low of $157.58 and a one year high of $283.05.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings data on Thursday, July 23rd. The company reported $6.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.26 by $1.86. Tenet Healthcare had a net margin of 10.27% and a return on equity of 26.76%. The company had revenue of $6.04 billion during the quarter, compared to the consensus estimate of $5.43 billion. During the same period in the previous year, the firm posted $4.02 EPS. The firm’s revenue was up 6.8% compared to the same quarter last year. On average, equities research analysts anticipate that Tenet Healthcare Corporation will post 21.04 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Tenet Healthcare news, CEO Saumya Sutaria sold 50,000 shares of Tenet Healthcare stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $278.71, for a total transaction of $13,935,500.00. Following the completion of the sale, the chief executive officer owned 483,564 shares of the company’s stock, valued at $134,774,122.44. The trade was a 9.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Lisa Y. Foo sold 24,000 shares of the company’s stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $266.32, for a total value of $6,391,680.00. Following the completion of the transaction, the executive vice president owned 8,053 shares of the company’s stock, valued at $2,144,674.96. The trade was a 74.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 116,484 shares of company stock valued at $31,478,363 over the last quarter. Insiders own 0.97% of the company’s stock.

Tenet Healthcare Profile

Tenet Healthcare Corp. (NYSE: THC) is a diversified healthcare services company headquartered in Dallas, Texas. Through its hospital operations and outpatient platforms, the company provides a range of medical services to patients across the United States.

Tenet operates acute care and specialty hospitals, ambulatory surgery centers, imaging facilities and other outpatient care sites. Its United Surgical Partners International subsidiary is a major provider of ambulatory surgery services and partners with physicians and health systems.