Glass Jacobson Investment Advisors llc purchased a new stake in shares of Tenet Healthcare Corporation (NYSE:THC - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,739 shares of the company's stock, valued at approximately $306,000.
Several other hedge funds have also recently bought and sold shares of the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in Tenet Healthcare in the 1st quarter worth about $26,000. Wayfinding Financial LLC bought a new position in Tenet Healthcare in the 1st quarter worth approximately $28,000. SVB Wealth LLC bought a new stake in Tenet Healthcare during the 1st quarter valued at $30,000. N.E.W. Advisory Services LLC acquired a new position in Tenet Healthcare during the 1st quarter worth $31,000. Finally, Brooklyn Investment Group increased its holdings in shares of Tenet Healthcare by 908.7% during the first quarter. Brooklyn Investment Group now owns 232 shares of the company's stock valued at $31,000 after purchasing an additional 209 shares during the period. 95.44% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of research firms have recently commented on THC. Truist Financial set a $225.00 price objective on Tenet Healthcare in a research note on Tuesday, October 14th. Guggenheim lifted their price target on shares of Tenet Healthcare from $180.00 to $188.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. JPMorgan Chase & Co. raised their price objective on Tenet Healthcare from $190.00 to $200.00 and gave the stock an "overweight" rating in a research note on Monday, August 4th. 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 report on Tuesday, October 7th. Finally, The Goldman Sachs Group started coverage on shares of Tenet Healthcare in a report on Tuesday, October 14th. They issued a "buy" rating and a $224.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $209.25.
Get Our Latest Analysis on Tenet Healthcare
Insider Buying and Selling at Tenet Healthcare
In other news, EVP Lisa Y. Foo sold 8,000 shares of the firm's stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $179.53, for a total transaction of $1,436,240.00. Following the transaction, the executive vice president owned 20,878 shares in the company, valued at approximately $3,748,227.34. This trade represents a 27.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Christopher S. Lynch sold 3,952 shares of the stock in a transaction 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. The trade was a 24.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 90,722 shares of company stock worth $17,161,015 over the last ninety days. 0.81% of the stock is currently owned by insiders.
Tenet Healthcare Stock Up 1.8%
THC stock opened at $210.62 on Friday. The company has a 50 day moving average of $192.69 and a two-hundred day moving average of $169.90. 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 12-month low of $109.82 and a 12-month high of $217.43. The company has a market cap of $18.61 billion, a price-to-earnings ratio of 13.48, a PEG ratio of 0.90 and a beta of 1.52.
Tenet Healthcare Company Profile
(
Free Report)
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.
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