Stephens Inc. AR Makes New Investment in Tenet Healthcare Corporation $THC

Stephens Inc. AR purchased a new position in shares of Tenet Healthcare Corporation (NYSE:THC) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 1,740 shares of the company’s stock, valued at approximately $306,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in THC. GAMMA Investing LLC lifted its position in Tenet Healthcare by 28.1% during the 1st quarter. GAMMA Investing LLC now owns 1,430 shares of the company’s stock worth $192,000 after buying an additional 314 shares in the last quarter. Cambridge Investment Research Advisors Inc. bought a new stake in Tenet Healthcare during the 1st quarter worth about $212,000. Jaffetilchin Investment Partners LLC lifted its position in Tenet Healthcare by 24.3% during the 1st quarter. Jaffetilchin Investment Partners LLC now owns 2,107 shares of the company’s stock worth $283,000 after buying an additional 412 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Tenet Healthcare by 65.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,420 shares of the company’s stock valued at $189,000 after purchasing an additional 562 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Tenet Healthcare by 50.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 453,023 shares of the company’s stock valued at $60,433,000 after purchasing an additional 152,244 shares during the period. 95.44% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on THC. Zacks Research cut shares of Tenet Healthcare from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. JPMorgan Chase & Co. increased their price target on Tenet Healthcare from $190.00 to $200.00 and gave the company an “overweight” rating in a research note on Monday, August 4th. Weiss Ratings restated a “hold (c+)” rating on shares of Tenet Healthcare in a research note on Friday. Barclays increased their price target on Tenet Healthcare from $208.00 to $229.00 and gave the company an “overweight” rating in a research note on Thursday, September 18th. Finally, Wells Fargo & Company increased their price target on Tenet Healthcare from $200.00 to $238.00 and gave the company an “overweight” rating in a research note on Tuesday, October 7th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and five 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 $209.25.

Insider Transactions at Tenet Healthcare

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 shares were sold at an average price of $190.78, for a total transaction of $15,026,214.36. Following the transaction, the chief executive officer directly owned 368,683 shares of the company’s stock, valued at approximately $70,337,342.74. This trade represents a 17.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Christopher S. Lynch sold 3,952 shares of the firm’s stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $176.39, for a total transaction of $697,093.28. Following the transaction, the director directly owned 12,358 shares in the company, valued at $2,179,827.62. This represents a 24.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 90,722 shares of company stock valued at $17,161,015. 0.81% of the stock is currently owned by company insiders.

Tenet Healthcare Stock Up 1.8%

Tenet Healthcare stock opened at $210.62 on Monday. The stock has a market cap of $18.61 billion, a P/E ratio of 13.48, a P/E/G ratio of 0.90 and a beta of 1.52. The company has a quick ratio of 1.63, a current ratio of 1.71 and a debt-to-equity ratio of 2.39. Tenet Healthcare Corporation has a twelve month low of $109.82 and a twelve month high of $217.43. The company’s 50-day moving average price is $192.69 and its two-hundred day moving average price is $170.17.

About Tenet Healthcare

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.