Chartwell Investment Partners LLC Purchases 15,428 Shares of Tenet Healthcare Co. (NYSE:THC)

Chartwell Investment Partners LLC lifted its holdings in Tenet Healthcare Co. (NYSE:THC - Free Report) by 90.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,464 shares of the company's stock after purchasing an additional 15,428 shares during the period. Chartwell Investment Partners LLC's holdings in Tenet Healthcare were worth $5,396,000 as of its most recent filing with the Securities & Exchange Commission.

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

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on THC shares. Citigroup boosted their price target on shares of Tenet Healthcare from $139.00 to $171.00 and gave the company a "buy" rating in a research report on Thursday, July 25th. Truist Financial reiterated a "buy" rating and issued a $190.00 price objective (up from $180.00) on shares of Tenet Healthcare in a report on Wednesday, October 30th. KeyCorp began coverage on Tenet Healthcare in a research report on Friday, October 11th. They issued an "overweight" rating and a $200.00 target price on the stock. Wells Fargo & Company boosted their price target on shares of Tenet Healthcare from $195.00 to $205.00 and gave the company an "overweight" rating in a research note on Wednesday, November 6th. Finally, Barclays lifted their price objective on Tenet Healthcare from $171.00 to $190.00 and gave the company an "overweight" rating in a research note on Friday. One analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $165.35.

Tenet Healthcare Trading Down 1.6 %

Shares of THC stock traded down $2.64 during mid-day trading on Tuesday, hitting $164.21. 1,009,132 shares of the company's stock were exchanged, compared to its average volume of 1,214,694. Tenet Healthcare Co. has a fifty-two week low of $53.63 and a fifty-two week high of $171.20. The company has a quick ratio of 1.52, a current ratio of 1.58 and a debt-to-equity ratio of 2.35. The stock has a market cap of $15.62 billion, a price-to-earnings ratio of 5.35, a PEG ratio of 0.74 and a beta of 2.15. The stock has a 50-day simple moving average of $159.45 and a two-hundred day simple moving average of $145.65.

Tenet Healthcare (NYSE:THC - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $2.93 earnings per share for the quarter, beating analysts' consensus estimates of $2.33 by $0.60. Tenet Healthcare had a return on equity of 24.05% and a net margin of 14.91%. The business had revenue of $5.12 billion for the quarter, compared to the consensus estimate of $5.05 billion. During the same period last year, the business earned $1.44 EPS. The firm's revenue was up 1.1% compared to the same quarter last year. Equities analysts expect that Tenet Healthcare Co. will post 11.38 EPS for the current fiscal year.

Tenet Healthcare announced that its board has approved a stock repurchase plan on Wednesday, July 24th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 10.3% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's management believes its stock is undervalued.

Insider Activity at Tenet Healthcare

In related news, CEO Saumya Sutaria sold 86,227 shares of the stock in a transaction dated 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 sale, the chief executive officer now owns 13,773 shares in the company, valued at $2,126,688.93. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, EVP Lisa Y. Foo sold 4,000 shares of the business's stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $155.94, for a total transaction of $623,760.00. Following the completion of the transaction, the executive vice president now directly owns 15,566 shares in the company, 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 available through this hyperlink. Also, CEO Saumya Sutaria sold 86,227 shares of Tenet Healthcare stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $154.41, for a total transaction of $13,314,311.07. Following the transaction, the chief executive officer now directly owns 13,773 shares in the company, valued at approximately $2,126,688.93. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 112,203 shares of company stock worth $17,451,957. 0.93% of the stock is owned by corporate insiders.

About Tenet Healthcare

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.