International Assets Investment Management LLC Increases Stake in Tenet Healthcare Co. (NYSE:THC)

International Assets Investment Management LLC lifted its stake in shares of Tenet Healthcare Co. (NYSE:THC) by 16,520.0% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 18,282 shares of the company’s stock after acquiring an additional 18,172 shares during the period. International Assets Investment Management LLC’s holdings in Tenet Healthcare were worth $3,038,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of THC. Innealta Capital LLC acquired a new position in Tenet Healthcare in the 2nd quarter valued at about $28,000. ORG Wealth Partners LLC purchased a new stake in Tenet Healthcare during the third quarter worth approximately $30,000. ORG Partners LLC purchased a new stake in Tenet Healthcare during the second quarter worth approximately $31,000. Blue Trust Inc. lifted its stake 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 purchasing an additional 120 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC purchased a new stake in Tenet Healthcare in the second quarter valued at approximately $34,000. 95.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Lisa Y. Foo sold 4,000 shares of the business’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $155.94, for a total value of $623,760.00. Following the sale, the executive vice president now owns 15,566 shares of the company’s stock, valued at approximately $2,427,362.04. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Lisa Y. Foo sold 4,000 shares of Tenet Healthcare stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $155.94, for a total transaction of $623,760.00. Following the transaction, the executive vice president now owns 15,566 shares in the company, valued at approximately $2,427,362.04. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Meghan Fitzgerald sold 20,000 shares of Tenet Healthcare stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $146.34, for a total value of $2,926,800.00. Following the transaction, the director now owns 15,269 shares in the company, valued at $2,234,465.46. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 132,203 shares of company stock valued at $20,378,757. Insiders own 0.93% of the company’s stock.

Tenet Healthcare Price Performance

THC stock opened at $156.13 on Friday. The company has a debt-to-equity ratio of 2.35, a quick ratio of 1.38 and a current ratio of 1.58. Tenet Healthcare Co. has a 1 year low of $52.08 and a 1 year high of $171.20. The firm has a market cap of $14.85 billion, a P/E ratio of 5.00, a price-to-earnings-growth ratio of 0.69 and a beta of 2.15. The stock has a 50-day simple moving average of $159.38 and a 200-day simple moving average of $142.08.

Tenet Healthcare (NYSE:THC) last issued 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 company had revenue of $5.12 billion during the quarter, compared to analyst estimates of $5.05 billion. Tenet Healthcare had a return on equity of 24.05% and a net margin of 14.91%. The business’s revenue was up 1.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.44 EPS. On average, equities analysts predict that Tenet Healthcare Co. will post 11.38 earnings per share for the current fiscal year.

Tenet Healthcare declared that its board has authorized a stock repurchase program on Wednesday, July 24th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the company to reacquire up to 10.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on THC shares. Royal Bank of Canada upped their price target on Tenet Healthcare from $174.00 to $183.00 and gave the stock an “outperform” rating in a research note on Wednesday. Truist Financial reaffirmed a “buy” rating and set a $190.00 price objective (up previously from $180.00) on shares of Tenet Healthcare in a report on Wednesday. Cantor Fitzgerald upped their target price on Tenet Healthcare from $168.00 to $177.00 and gave the company an “overweight” rating in a report on Wednesday. Raymond James upped their target price on Tenet Healthcare from $130.00 to $175.00 and gave the company a “strong-buy” rating in a report on Thursday, July 25th. Finally, UBS Group upped their target price on Tenet Healthcare from $197.00 to $217.00 and gave the company a “buy” rating in a report on Wednesday. One analyst has rated the stock with a hold rating, fourteen have given a buy rating and four have issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $163.65.

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.