Precision Wealth Strategies LLC Boosts Holdings in Tenet Healthcare Co. (NYSE:THC)

Precision Wealth Strategies LLC raised its holdings in shares of Tenet Healthcare Co. (NYSE:THC) by 7.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,182 shares of the company’s stock after acquiring an additional 224 shares during the quarter. Precision Wealth Strategies LLC’s holdings in Tenet Healthcare were worth $529,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Tenet Healthcare by 0.7% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,604 shares of the company’s stock worth $1,325,000 after acquiring an additional 90 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Tenet Healthcare by 20.7% in the second quarter. EverSource Wealth Advisors LLC now owns 560 shares of the company’s stock worth $74,000 after acquiring an additional 96 shares during the last quarter. Violich Capital Management Inc. boosted its position in shares of Tenet Healthcare by 3.2% in the first quarter. Violich Capital Management Inc. now owns 3,380 shares of the company’s stock worth $355,000 after acquiring an additional 105 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Tenet Healthcare by 17.0% in the first quarter. GAMMA Investing LLC now owns 731 shares of the company’s stock worth $77,000 after acquiring an additional 106 shares during the last quarter. Finally, First Citizens Bank & Trust Co. boosted its position in shares of Tenet Healthcare by 5.1% in the third quarter. First Citizens Bank & Trust Co. now owns 2,226 shares of the company’s stock worth $370,000 after acquiring an additional 109 shares during the last quarter. 95.44% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. UBS Group lifted their price target on shares of Tenet Healthcare from $180.00 to $197.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Truist Financial lifted their price target on shares of Tenet Healthcare from $170.00 to $180.00 and gave the company a “buy” rating in a research report on Monday, October 14th. KeyCorp assumed coverage on shares of Tenet Healthcare in a research report on Friday, October 11th. They set an “overweight” rating and a $200.00 price target on the stock. Wells Fargo & Company lifted their price target on shares of Tenet Healthcare from $145.00 to $175.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Finally, Barclays lifted their price objective 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. One analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $156.06.

Insider Buying and Selling at Tenet Healthcare

In other news, insider R. Scott Ramsey sold 11,599 shares of the business’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $162.06, for a total transaction of $1,879,733.94. Following the completion of the transaction, the insider now owns 6,324 shares of the company’s stock, valued at approximately $1,024,867.44. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO Saumya Sutaria sold 86,227 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $154.41, for a total transaction of $13,314,311.07. Following the completion of the transaction, the chief executive officer now owns 13,773 shares of the company’s stock, valued at approximately $2,126,688.93. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, 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 dated 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 completion of the sale, the insider now directly 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 disclosure for this sale can be found here. Insiders sold a total of 128,203 shares of company stock worth $19,754,997 over the last 90 days. Insiders own 0.93% of the company’s stock.

Tenet Healthcare Stock Down 2.5 %

Shares of NYSE:THC opened at $159.73 on Tuesday. The company has a current ratio of 1.45, a quick ratio of 1.38 and a debt-to-equity ratio of 2.53. The company has a fifty day simple moving average of $159.94 and a 200 day simple moving average of $138.96. The firm has a market cap of $15.60 billion, a PE ratio of 6.20, a price-to-earnings-growth ratio of 0.78 and a beta of 2.14. Tenet Healthcare Co. has a 12-month low of $51.04 and a 12-month high of $171.20.

Tenet Healthcare (NYSE:THC) last released its earnings results on Wednesday, July 24th. The company reported $2.31 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.42. Tenet Healthcare had a net margin of 13.17% and a return on equity of 24.66%. The firm had revenue of $5.10 billion during the quarter, compared to analyst estimates of $4.98 billion. On average, equities research analysts anticipate that Tenet Healthcare Co. will post 10.73 EPS for the current fiscal year.

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

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.