International Assets Investment Management LLC Buys 18,172 Shares of Tenet Healthcare Co. (NYSE:THC)

International Assets Investment Management LLC boosted its position in shares of Tenet Healthcare Co. (NYSE:THC - Free Report) by 16,520.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 18,282 shares of the company's stock after purchasing an additional 18,172 shares during the period. International Assets Investment Management LLC's holdings in Tenet Healthcare were worth $3,038,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Price T Rowe Associates Inc. MD lifted its stake in Tenet Healthcare by 11.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,915,000 shares of the company's stock worth $831,947,000 after acquiring an additional 790,684 shares in the last quarter. 8 Knots Management LLC boosted its holdings in shares of Tenet Healthcare by 74.5% during the first quarter. 8 Knots Management LLC now owns 1,025,730 shares of the company's stock worth $107,814,000 after purchasing an additional 438,033 shares during the period. Acadian Asset Management LLC grew its position in Tenet Healthcare by 7,223.1% during the second quarter. Acadian Asset Management LLC now owns 326,244 shares of the company's stock valued at $43,385,000 after purchasing an additional 321,789 shares in the last quarter. Farallon Capital Management LLC increased its stake in Tenet Healthcare by 70.1% in the 1st quarter. Farallon Capital Management LLC now owns 637,442 shares of the company's stock valued at $67,002,000 after buying an additional 262,600 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Tenet Healthcare by 344.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 317,198 shares of the company's stock valued at $52,718,000 after buying an additional 245,875 shares during the period. Hedge funds and other institutional investors own 95.44% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Royal Bank of Canada upped their price target on shares of Tenet Healthcare from $174.00 to $183.00 and gave the stock an "outperform" rating in a research note on Wednesday. Citigroup lifted their price target on Tenet Healthcare from $139.00 to $171.00 and gave the company a "buy" rating in a report on Thursday, July 25th. KeyCorp began coverage on Tenet Healthcare in a report on Friday, October 11th. They issued an "overweight" rating and a $200.00 price objective on the stock. Truist Financial reissued a "buy" rating and issued a $190.00 target price (up from $180.00) on shares of Tenet Healthcare in a research report on Wednesday. Finally, Barclays raised their price target on shares of Tenet Healthcare from $156.00 to $171.00 and gave the company an "overweight" rating in a report on Monday, July 29th. One equities research analyst has rated the stock with a hold rating, fourteen have given a buy rating and four have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Tenet Healthcare has an average rating of "Buy" and a consensus target price of $163.65.

Insider Activity

In related news, CEO Saumya Sutaria sold 86,227 shares of the company's stock in a transaction dated 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 owns 13,773 shares of the company's stock, 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 legal filing with the SEC, which is available through this hyperlink. In other news, CEO Saumya Sutaria sold 86,227 shares of the business'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 owns 13,773 shares in the company, valued at approximately $2,126,688.93. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard W. Fisher sold 2,000 shares of the firm's stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $163.67, for a total value of $327,340.00. Following the sale, the director now directly owns 14,227 shares of the company's stock, valued at $2,328,533.09. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 132,203 shares of company stock worth $20,378,757. 0.93% of the stock is currently owned by corporate insiders.

Tenet Healthcare Stock Performance

Shares of THC traded up $1.11 during mid-day trading on Friday, hitting $156.13. The company's stock had a trading volume of 1,215,240 shares, compared to its average volume of 1,321,742. The company has a debt-to-equity ratio of 2.35, a quick ratio of 1.38 and a current ratio of 1.58. The firm has a market capitalization of $14.85 billion, a PE ratio of 5.00, a price-to-earnings-growth ratio of 0.69 and a beta of 2.15. The stock's 50-day moving average is $159.38 and its two-hundred day moving average is $142.39. Tenet Healthcare Co. has a one year low of $52.08 and a one year high of $171.20.

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

Tenet Healthcare declared that its board has authorized a share buyback plan on Wednesday, July 24th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 10.3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's leadership believes its stock is 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.