Allworth Financial LP Has $2.41 Million Stock Holdings in Tenet Healthcare Co. (NYSE:THC)

Allworth Financial LP raised its stake in Tenet Healthcare Co. (NYSE:THC) by 186.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 14,527 shares of the company’s stock after buying an additional 9,464 shares during the quarter. Allworth Financial LP’s holdings in Tenet Healthcare were worth $2,414,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in THC. ORG Wealth Partners LLC bought a new position in Tenet Healthcare during the 3rd quarter worth about $30,000. Innealta Capital LLC acquired a new stake in Tenet Healthcare in the 2nd quarter valued at approximately $28,000. ORG Partners LLC bought a new stake in Tenet Healthcare in the 2nd quarter valued at approximately $31,000. Blue Trust Inc. grew its stake in shares of Tenet Healthcare by 93.0% during the 2nd quarter. Blue Trust Inc. now owns 249 shares of the company’s stock worth $33,000 after acquiring an additional 120 shares in the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC bought a new stake in shares of Tenet Healthcare in the second quarter worth $34,000. Institutional investors own 95.44% of the company’s stock.

Insider Activity at Tenet Healthcare

In other Tenet Healthcare news, insider R. Scott Ramsey sold 11,599 shares of the business’s stock in a transaction dated Thursday, September 5th. The shares were 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 of the company’s stock, valued at $1,024,867.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Tenet Healthcare news, Director Meghan Fitzgerald sold 20,000 shares of the firm’s stock in a transaction dated 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 directly owns 15,269 shares of the company’s stock, valued at $2,234,465.46. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 transaction of $1,879,733.94. Following the sale, the insider now directly owns 6,324 shares of the company’s stock, valued at approximately $1,024,867.44. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 128,203 shares of company stock worth $19,754,997. Corporate insiders own 0.93% of the company’s stock.

Tenet Healthcare Stock Performance

THC opened at $139.77 on Monday. The company has a debt-to-equity ratio of 2.53, a current ratio of 1.45 and a quick ratio of 1.38. The company has a market capitalization of $13.65 billion, a PE ratio of 5.42, a price-to-earnings-growth ratio of 0.80 and a beta of 2.14. The business has a fifty day simple moving average of $159.85 and a 200 day simple moving average of $140.77. Tenet Healthcare Co. has a 1 year low of $51.04 and a 1 year high of $171.20.

Tenet Healthcare announced that its Board of Directors has authorized a share buyback plan on Wednesday, July 24th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the company to buy up to 10.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $168.00 price target on shares of Tenet Healthcare in a research note on Tuesday, October 1st. KeyCorp assumed coverage on Tenet Healthcare in a research report on Friday, October 11th. They set an “overweight” rating and a $200.00 price target for the company. UBS Group boosted their price target on Tenet Healthcare from $180.00 to $197.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Barclays raised their target price on shares of Tenet Healthcare from $156.00 to $171.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Finally, Citigroup upped their price target on shares of Tenet Healthcare from $139.00 to $171.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. One equities research 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 stock. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $157.24.

Tenet Healthcare 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.