Tenet Healthcare Co. (NYSE:THC) Shares Purchased by Allworth Financial LP

Allworth Financial LP grew its position in Tenet Healthcare Co. (NYSE:THC - Free Report) by 186.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 14,527 shares of the company's stock after purchasing an additional 9,464 shares during the period. Allworth Financial LP's holdings in Tenet Healthcare were worth $2,414,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. BNP Paribas Financial Markets grew its position in Tenet Healthcare by 113.5% during the 1st quarter. BNP Paribas Financial Markets now owns 54,878 shares of the company's stock worth $5,768,000 after purchasing an additional 29,172 shares during the period. Headlands Technologies LLC purchased a new position in Tenet Healthcare during the first quarter valued at approximately $410,000. Legacy Capital Group California Inc. purchased a new stake in Tenet Healthcare in the 3rd quarter worth approximately $1,055,000. Diversified Trust Co acquired a new stake in shares of Tenet Healthcare during the 2nd quarter worth approximately $558,000. Finally, Janney Montgomery Scott LLC acquired a new position in shares of Tenet Healthcare in the 1st quarter valued at $537,000. Institutional investors and hedge funds own 95.44% of the company's stock.

Insider Activity

In other news, CEO Saumya Sutaria sold 86,227 shares of the firm's stock in a transaction 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 sale, the chief executive officer now directly owns 13,773 shares in the company, valued at approximately $2,126,688.93. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Saumya Sutaria sold 86,227 shares of the business's stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 13,773 shares in the company, valued at $2,126,688.93. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Meghan Fitzgerald sold 20,000 shares of the firm's 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 sale, the director now directly owns 15,269 shares in the company, valued at approximately $2,234,465.46. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 128,203 shares of company stock worth $19,754,997. 0.93% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Truist Financial upped their price target on Tenet Healthcare from $170.00 to $180.00 and gave the stock a "buy" rating in a report on Monday, October 14th. 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 note on Wednesday, August 14th. KeyCorp initiated coverage on shares of Tenet Healthcare in a research report on Friday, October 11th. They issued an "overweight" rating and a $200.00 target price on the stock. Citigroup raised their price target on shares of Tenet Healthcare from $139.00 to $171.00 and gave the company a "buy" rating in a research note on Thursday, July 25th. Finally, Cantor Fitzgerald restated an "overweight" rating and issued a $168.00 target price on shares of Tenet Healthcare in a research report on Tuesday, October 1st. 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. Based on data from MarketBeat.com, Tenet Healthcare has a consensus rating of "Buy" and a consensus price target of $157.24.

Tenet Healthcare Stock Down 0.2 %

Shares of THC stock traded down $0.34 during trading on Monday, reaching $139.43. The company's stock had a trading volume of 1,781,840 shares, compared to its average volume of 1,196,522. The company has a debt-to-equity ratio of 2.53, a current ratio of 1.45 and a quick ratio of 1.38. Tenet Healthcare Co. has a 1-year low of $51.04 and a 1-year high of $171.20. The company has a market capitalization of $13.36 billion, a price-to-earnings ratio of 5.11, a P/E/G ratio of 0.71 and a beta of 2.14. The stock's 50-day moving average price is $159.51 and its 200 day moving average price is $141.04.

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

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.