Chicago Partners Investment Group LLC Buys New Position in Tenet Healthcare Corporation $THC

Chicago Partners Investment Group LLC bought a new stake in shares of Tenet Healthcare Corporation (NYSE:THC) during the 2nd quarter, Holdings Channel reports. The institutional investor bought 1,552 shares of the company’s stock, valued at approximately $273,000.

A number of other hedge funds have also modified their holdings of THC. GAMMA Investing LLC increased its holdings in shares of Tenet Healthcare by 28.1% in the first quarter. GAMMA Investing LLC now owns 1,430 shares of the company’s stock valued at $192,000 after purchasing an additional 314 shares during the period. Janney Montgomery Scott LLC acquired a new position in shares of Tenet Healthcare in the first quarter valued at about $1,986,000. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Tenet Healthcare in the first quarter valued at about $212,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in shares of Tenet Healthcare in the first quarter valued at about $26,000. Finally, Jaffetilchin Investment Partners LLC increased its holdings in shares of Tenet Healthcare by 24.3% in the first quarter. Jaffetilchin Investment Partners LLC now owns 2,107 shares of the company’s stock valued at $283,000 after purchasing an additional 412 shares during the period. 95.44% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Saumya Sutaria sold 78,762 shares of the firm’s stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $190.78, for a total value of $15,026,214.36. Following the transaction, the chief executive officer owned 368,683 shares in the company, valued at $70,337,342.74. This trade represents a 17.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Christopher S. Lynch sold 3,952 shares of Tenet Healthcare stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $176.39, for a total value of $697,093.28. Following the transaction, the director owned 12,358 shares in the company, valued at approximately $2,179,827.62. The trade was a 24.23% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 90,722 shares of company stock worth $17,161,015 over the last quarter. 0.81% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Raymond James Financial restated an “outperform” rating and issued a $200.00 target price (up previously from $185.00) on shares of Tenet Healthcare in a research note on Wednesday, July 23rd. Mizuho upped their target price on Tenet Healthcare from $194.00 to $225.00 and gave the stock an “outperform” rating in a research note on Friday, October 17th. Wells Fargo & Company upped their target price on Tenet Healthcare from $200.00 to $238.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 7th. Wall Street Zen upgraded Tenet Healthcare from a “hold” rating to a “strong-buy” rating in a research note on Saturday, July 26th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $190.00 price objective on shares of Tenet Healthcare in a report on Tuesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $209.25.

Tenet Healthcare Stock Up 1.8%

Shares of THC opened at $210.62 on Friday. The firm has a market cap of $18.61 billion, a P/E ratio of 13.48, a PEG ratio of 0.89 and a beta of 1.52. The stock’s 50 day moving average is $192.69 and its two-hundred day moving average is $169.55. Tenet Healthcare Corporation has a 12 month low of $109.82 and a 12 month high of $217.43. The company has a current ratio of 1.71, a quick ratio of 1.63 and a debt-to-equity ratio of 2.39.

Tenet Healthcare (NYSE:THC) last released its earnings results on Tuesday, July 22nd. The company reported $4.02 earnings per share for the quarter, beating the consensus estimate of $2.84 by $1.18. The business had revenue of $5.27 billion for the quarter, compared to the consensus estimate of $5.16 billion. Tenet Healthcare had a return on equity of 24.69% and a net margin of 7.17%.The business’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter last year, the business posted $2.31 earnings per share. Analysts predict that Tenet Healthcare Corporation will post 12.24 earnings per share 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.