True Wealth Design LLC Makes New $38,000 Investment in Tenet Healthcare Co. (NYSE:THC)

True Wealth Design LLC purchased a new stake in Tenet Healthcare Co. (NYSE:THC) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 229 shares of the company’s stock, valued at approximately $38,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. FMR LLC increased its position in Tenet Healthcare by 88.0% during the third quarter. FMR LLC now owns 7,700,693 shares of the company’s stock worth $1,279,855,000 after purchasing an additional 3,604,161 shares during the last quarter. Acadian Asset Management LLC grew its holdings in shares of Tenet Healthcare by 7,223.1% in the second quarter. Acadian Asset Management LLC now owns 326,244 shares of the company’s stock valued at $43,385,000 after purchasing an additional 321,789 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in Tenet Healthcare by 344.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 317,198 shares of the company’s stock worth $52,718,000 after buying an additional 245,875 shares in the last quarter. Renaissance Technologies LLC acquired a new position in shares of Tenet Healthcare in the second quarter worth $27,454,000. Finally, AQR Capital Management LLC grew its stake in Tenet Healthcare by 35.2% during the 2nd quarter. AQR Capital Management LLC now owns 341,250 shares of the company’s stock worth $45,396,000 after purchasing an additional 88,781 shares in the last quarter. Hedge funds and other institutional investors own 95.44% of the company’s stock.

Insider Activity at Tenet Healthcare

In other Tenet Healthcare news, 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 of the company’s stock, valued at approximately $2,427,362.04. This trade represents a 20.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider R. Scott Ramsey sold 11,599 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $162.06, for a total value of $1,879,733.94. Following the completion of the sale, the insider now owns 6,324 shares in the company, valued at approximately $1,024,867.44. This represents a 64.72 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.93% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. KeyCorp initiated coverage on shares of Tenet Healthcare in a research note on Friday, October 11th. They set an “overweight” rating and a $200.00 target price on the stock. The Goldman Sachs Group raised their price objective on shares of Tenet Healthcare from $173.00 to $196.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Truist Financial reissued a “buy” rating and issued a $190.00 target price (up previously from $180.00) on shares of Tenet Healthcare in a report on Wednesday, October 30th. UBS Group upped their price objective on Tenet Healthcare from $197.00 to $217.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Cantor Fitzgerald raised their price objective on shares of Tenet Healthcare from $168.00 to $177.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $168.19.

Tenet Healthcare Trading Up 0.5 %

Shares of THC stock opened at $142.68 on Monday. The company has a current ratio of 1.58, a quick ratio of 1.52 and a debt-to-equity ratio of 2.35. The business’s 50 day moving average is $156.87 and its two-hundred day moving average is $148.62. Tenet Healthcare Co. has a twelve month low of $66.64 and a twelve month high of $171.20. The company has a market capitalization of $13.57 billion, a P/E ratio of 4.57, a price-to-earnings-growth ratio of 0.64 and a beta of 2.15.

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