Cwm LLC Boosts Stock Position in Tenet Healthcare Co. (NYSE:THC)

CWM LLC increased its stake in shares of Tenet Healthcare Co. (NYSE:THC - Free Report) by 263.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 8,198 shares of the company's stock after purchasing an additional 5,943 shares during the quarter. CWM LLC's holdings in Tenet Healthcare were worth $1,363,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Tenet Healthcare by 0.7% during 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 purchasing an additional 90 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings 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 period. Violich Capital Management Inc. boosted its holdings in Tenet Healthcare by 3.2% during the 1st quarter. Violich Capital Management Inc. now owns 3,380 shares of the company's stock valued at $355,000 after acquiring an additional 105 shares during the period. GAMMA Investing LLC boosted its holdings in Tenet Healthcare by 17.0% during the 1st quarter. GAMMA Investing LLC now owns 731 shares of the company's stock valued at $77,000 after acquiring an additional 106 shares during the period. Finally, SummerHaven Investment Management LLC boosted its holdings in Tenet Healthcare by 1.3% during the 2nd quarter. SummerHaven Investment Management LLC now owns 8,915 shares of the company's stock valued at $1,186,000 after acquiring an additional 115 shares during the period. Institutional investors own 95.44% of the company's stock.

Analyst Ratings Changes

A number of research firms recently issued reports on THC. Citigroup boosted their price objective on Tenet Healthcare from $139.00 to $171.00 and gave the company a "buy" rating in a report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft boosted their price objective on Tenet Healthcare from $150.00 to $155.00 and gave the company a "buy" rating in a report on Friday, June 28th. KeyCorp began coverage on Tenet Healthcare in a report on Friday, October 11th. They issued an "overweight" rating and a $200.00 target price for the company. The Goldman Sachs Group upped their target price on Tenet Healthcare from $156.00 to $173.00 and gave the stock a "buy" rating in a report on Tuesday, July 30th. Finally, Wells Fargo & Company upped their target price on Tenet Healthcare from $145.00 to $175.00 and gave the stock an "overweight" rating in a report on Tuesday, July 30th. One research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $156.06.

Insider Transactions at Tenet Healthcare

In other news, CEO Saumya Sutaria sold 86,227 shares of the firm's stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $154.41, for a total value of $13,314,311.07. Following the completion of the transaction, the chief executive officer now directly owns 13,773 shares in the company, valued at $2,126,688.93. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director Meghan Fitzgerald sold 20,000 shares of Tenet Healthcare stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $146.34, for a total transaction of $2,926,800.00. Following the completion of the transaction, the director now directly owns 15,269 shares in the company, valued at approximately $2,234,465.46. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Saumya Sutaria sold 86,227 shares of Tenet Healthcare stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $154.41, for a total value of $13,314,311.07. Following the transaction, the chief executive officer now owns 13,773 shares of the company's stock, 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. Insiders sold a total of 128,203 shares of company stock worth $19,754,997 over the last three months. 0.93% of the stock is currently owned by insiders.

Tenet Healthcare Stock Down 1.4 %

NYSE THC traded down $2.32 during trading on Thursday, hitting $161.71. The company's stock had a trading volume of 488,764 shares, compared to its average volume of 1,190,894. 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 cap of $15.80 billion, a PE ratio of 6.28, a P/E/G ratio of 0.78 and a beta of 2.14. The business's 50 day simple moving average is $159.67 and its 200-day simple moving average is $138.05. Tenet Healthcare Co. has a fifty-two week low of $51.04 and a fifty-two week high of $171.20.

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

Tenet Healthcare announced that its board has approved a share buyback plan on Wednesday, July 24th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the company to repurchase up to 10.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board of directors believes its shares are 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.