GDS Wealth Management Invests $508,000 in Tenet Healthcare Co. (NYSE:THC)

GDS Wealth Management purchased a new position in shares of Tenet Healthcare Co. (NYSE:THC - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 3,058 shares of the company's stock, valued at approximately $508,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. boosted its position in Tenet Healthcare by 0.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,604 shares of the company's stock valued at $1,325,000 after buying an additional 90 shares during the last quarter. Optas LLC increased its holdings in Tenet Healthcare by 3.4% during the 3rd quarter. Optas LLC now owns 2,821 shares of the company's stock worth $469,000 after purchasing an additional 93 shares during the last quarter. Signaturefd LLC grew its position in shares of Tenet Healthcare by 17.6% during the third quarter. Signaturefd LLC now owns 628 shares of the company's stock worth $104,000 after buying an additional 94 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in Tenet Healthcare by 20.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 560 shares of the company's stock valued at $74,000 after acquiring an additional 96 shares during the last quarter. Finally, First Citizens Bank & Trust Co. increased its position in shares of Tenet Healthcare by 5.1% in the 3rd quarter. First Citizens Bank & Trust Co. now owns 2,226 shares of the company's stock worth $370,000 after purchasing an additional 109 shares during the last quarter. 95.44% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on the company. Truist Financial restated a "buy" rating and set a $190.00 price objective (up previously from $180.00) on shares of Tenet Healthcare in a research note on Wednesday, October 30th. Raymond James raised their price target on shares of Tenet Healthcare from $130.00 to $175.00 and gave the stock a "strong-buy" rating in a research report on Thursday, July 25th. Wells Fargo & Company increased their price objective on shares of Tenet Healthcare from $195.00 to $205.00 and gave the stock an "overweight" rating in a research note on Wednesday, November 6th. The Goldman Sachs Group upped their target price on Tenet Healthcare from $173.00 to $196.00 and gave the company a "buy" rating in a report on Wednesday, October 30th. Finally, KeyCorp began coverage on Tenet Healthcare in a research report on Friday, October 11th. They set an "overweight" rating and a $200.00 price objective for the company. One investment analyst has rated the stock with a hold rating, fourteen have issued a buy rating and four have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $165.35.

Insider Buying and Selling at Tenet Healthcare

In related 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 value of $623,760.00. Following the transaction, the executive vice president now directly owns 15,566 shares in the company, valued at $2,427,362.04. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, EVP Lisa Y. Foo sold 4,000 shares of the business's stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $155.94, for a total transaction of $623,760.00. Following the sale, the executive vice president now owns 15,566 shares in the company, valued at $2,427,362.04. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Paola M. Arbour sold 8,377 shares of the business's stock in a transaction on Friday, August 16th. The shares were sold at an average price of $156.00, for a total transaction of $1,306,812.00. Following the sale, the executive vice president now directly owns 21,426 shares in the company, valued at approximately $3,342,456. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 112,203 shares of company stock valued at $17,451,957. Corporate insiders own 0.93% of the company's stock.

Tenet Healthcare Price Performance

Shares of THC stock traded up $1.55 during mid-day trading on Monday, hitting $166.76. 547,016 shares of the stock traded hands, compared to its average volume of 1,214,036. The company has a debt-to-equity ratio of 2.35, a quick ratio of 1.52 and a current ratio of 1.58. The firm has a market cap of $15.86 billion, a price-to-earnings ratio of 5.29, a price-to-earnings-growth ratio of 0.74 and a beta of 2.15. The company's 50-day simple moving average is $159.43 and its 200-day simple moving average is $145.16. Tenet Healthcare Co. has a twelve month low of $53.63 and a twelve month high of $171.20.

Tenet Healthcare (NYSE:THC - Get Free Report) last issued its quarterly 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. Tenet Healthcare had a net margin of 14.91% and a return on equity of 24.05%. The firm had revenue of $5.12 billion for the quarter, compared to analysts' expectations of $5.05 billion. During the same period in the previous year, the business earned $1.44 earnings per share. Tenet Healthcare's revenue for the quarter was up 1.1% compared to the same quarter last year. As a group, equities research analysts expect that Tenet Healthcare Co. will post 11.38 earnings per share for the current year.

Tenet Healthcare declared that its Board of Directors has authorized a stock repurchase program on Wednesday, July 24th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 10.3% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's board of directors believes its stock is undervalued.

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.