Qsemble Capital Management LP Has $255,000 Stock Holdings in Tenet Healthcare Co. (NYSE:THC)

Qsemble Capital Management LP cut its holdings in Tenet Healthcare Co. (NYSE:THC) by 82.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,534 shares of the company’s stock after selling 7,428 shares during the quarter. Qsemble Capital Management LP’s holdings in Tenet Healthcare were worth $255,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Innealta Capital LLC bought a new position in shares of Tenet Healthcare in the second quarter valued at approximately $28,000. Plato Investment Management Ltd bought a new position in shares of Tenet Healthcare in the third quarter valued at approximately $28,000. ORG Wealth Partners LLC bought a new position in Tenet Healthcare during the third quarter worth $30,000. ORG Partners LLC bought a new position in Tenet Healthcare during the second quarter worth $31,000. Finally, Blue Trust Inc. increased its position in Tenet Healthcare by 93.0% during the second 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. 95.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Lisa Y. Foo sold 4,000 shares of Tenet Healthcare stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $155.94, for a total value of $623,760.00. Following the sale, the executive vice president now directly owns 15,566 shares in the company, valued at $2,427,362.04. This trade represents a 20.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider R. Scott Ramsey sold 11,599 shares of Tenet Healthcare stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $162.06, for a total transaction of $1,879,733.94. Following the completion of the sale, the insider now owns 6,324 shares in the company, valued at $1,024,867.44. This trade represents a 64.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.93% of the stock is owned by corporate insiders.

Tenet Healthcare Stock Down 2.5 %

Shares of NYSE:THC opened at $141.94 on Thursday. The company has a quick ratio of 1.52, a current ratio of 1.58 and a debt-to-equity ratio of 2.35. The firm has a market cap of $13.50 billion, a P/E ratio of 4.55, a P/E/G ratio of 0.64 and a beta of 2.15. The company’s 50-day moving average price is $158.21 and its two-hundred day moving average price is $148.45. Tenet Healthcare Co. has a 12 month low of $65.90 and a 12 month high of $171.20.

Tenet Healthcare (NYSE:THC) last announced its earnings results on Tuesday, October 29th. The company reported $2.93 EPS for the quarter, topping the consensus estimate of $2.33 by $0.60. The firm had revenue of $5.12 billion for the quarter, compared to the consensus estimate of $5.05 billion. Tenet Healthcare had a net margin of 14.91% and a return on equity of 24.05%. The business’s quarterly revenue was up 1.1% on a year-over-year basis. During the same period last year, the company posted $1.44 EPS. As a group, research analysts forecast that Tenet Healthcare Co. will post 11.38 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Royal Bank of Canada boosted their target price on shares of Tenet Healthcare from $174.00 to $183.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Truist Financial reissued a “buy” rating and issued a $190.00 price target (up previously from $180.00) on shares of Tenet Healthcare in a report on Wednesday, October 30th. KeyCorp initiated coverage on shares of Tenet Healthcare in a report on Friday, October 11th. They issued an “overweight” rating and a $200.00 price target on the stock. Cantor Fitzgerald boosted their price target on shares of Tenet Healthcare from $168.00 to $177.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Finally, Wells Fargo & Company lowered shares of Tenet Healthcare from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $205.00 to $150.00 in a report on Monday. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Tenet Healthcare currently has an average rating of “Buy” and an average target price of $168.19.

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.