Globeflex Capital L P bought a new stake in shares of Tenet Healthcare Corporation (NYSE:THC – Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 36,149 shares of the company’s stock, valued at approximately $6,763,000. Tenet Healthcare comprises about 0.9% of Globeflex Capital L P’s holdings, making the stock its 26th largest position.
A number of other institutional investors and hedge funds have also bought and sold shares of THC. PeakShares LLC boosted its holdings in Tenet Healthcare by 3.3% during the 1st quarter. PeakShares LLC now owns 1,693 shares of the company’s stock worth $319,000 after acquiring an additional 54 shares during the last quarter. Sanctuary Advisors LLC raised its holdings in shares of Tenet Healthcare by 0.5% in the first quarter. Sanctuary Advisors LLC now owns 11,900 shares of the company’s stock valued at $2,246,000 after purchasing an additional 57 shares during the last quarter. Quadrant Capital Group LLC lifted its position in shares of Tenet Healthcare by 0.7% during the fourth quarter. Quadrant Capital Group LLC now owns 8,134 shares of the company’s stock valued at $1,616,000 after purchasing an additional 58 shares in the last quarter. Applied Finance Capital Management LLC grew its position in Tenet Healthcare by 3.8% in the 1st quarter. Applied Finance Capital Management LLC now owns 1,644 shares of the company’s stock worth $310,000 after purchasing an additional 60 shares in the last quarter. Finally, Syon Capital LLC increased its stake in Tenet Healthcare by 5.3% in the 4th quarter. Syon Capital LLC now owns 1,254 shares of the company’s stock valued at $249,000 after buying an additional 63 shares during the last quarter. 95.44% of the stock is owned by hedge funds and other institutional investors.
Tenet Healthcare Stock Performance
Shares of THC opened at $280.60 on Monday. 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 cap of $22.59 billion, a PE ratio of 10.82, a PEG ratio of 1.07 and a beta of 1.23. Tenet Healthcare Corporation has a 1 year low of $157.58 and a 1 year high of $280.89. The stock’s fifty day moving average price is $220.53 and its two-hundred day moving average price is $206.93.
Analyst Upgrades and Downgrades
A number of equities analysts have recently weighed in on the company. 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 note on Monday, July 27th. Piper Sandler set a $308.00 price target on Tenet Healthcare in a report on Monday, July 27th. Raymond James Financial restated an “outperform” rating and issued a $285.00 price objective on shares of Tenet Healthcare in a research note on Friday, August 14th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Tenet Healthcare in a research report on Monday, July 27th. Finally, Royal Bank Of Canada boosted their price target on shares of Tenet Healthcare from $236.00 to $283.00 and gave the stock an “outperform” rating in a report on Monday, July 27th. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $273.00.
Read Our Latest Stock Analysis on THC
Insider Transactions at Tenet Healthcare
In other news, Director Tammy Romo sold 4,922 shares of the business’s stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $264.15, for a total value of $1,300,146.30. Following the sale, the director owned 30,784 shares of the company’s stock, valued at $8,131,593.60. The trade was a 13.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Christopher S. Lynch sold 3,837 shares of the firm’s stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $243.44, for a total transaction of $934,079.28. Following the completion of the transaction, the director directly owned 9,568 shares of the company’s stock, valued at approximately $2,329,233.92. This trade represents a 28.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 41,375 shares of company stock valued at $9,793,347. 0.97% of the stock is currently owned by insiders.
Tenet Healthcare Profile
Tenet Healthcare Corporation (NYSE: THC) is a diversified American healthcare services company that owns and operates acute care hospitals and a broad range of outpatient facilities. Its portfolio includes general acute-care hospitals, specialty hospitals, ambulatory surgery centers, urgent care and diagnostic imaging centers, and other ancillary service locations. Tenet’s operations are oriented around delivering inpatient and outpatient clinical care across multiple medical specialties, with an emphasis on surgical services, emergency care, and advanced diagnostics.
In addition to facility-based care, Tenet provides integrated services designed to support clinical operations and improve patient access and care coordination.
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