Janney Montgomery Scott LLC Buys 11,188 Shares of Tenet Healthcare Co. (NYSE:THC)

Janney Montgomery Scott LLC raised its holdings in Tenet Healthcare Co. (NYSE:THC - Free Report) by 135.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,478 shares of the company's stock after purchasing an additional 11,188 shares during the period. Janney Montgomery Scott LLC's holdings in Tenet Healthcare were worth $3,237,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Innealta Capital LLC bought a new position in shares of Tenet Healthcare in the second quarter worth $28,000. ORG Wealth Partners LLC purchased a new position in Tenet Healthcare during the 3rd quarter valued at about $30,000. ORG Partners LLC purchased a new stake in shares of Tenet Healthcare in the second quarter worth about $31,000. Blue Trust Inc. grew its stake in Tenet Healthcare by 93.0% during the second quarter. Blue Trust Inc. now owns 249 shares of the company's stock valued at $33,000 after acquiring an additional 120 shares in the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC purchased a new stake in Tenet Healthcare in the 2nd quarter worth approximately $34,000. Institutional investors own 95.44% of the company's stock.

Analysts Set New Price Targets

THC has been the topic of several research analyst reports. Raymond James upped their price target on shares of Tenet Healthcare from $130.00 to $175.00 and gave the stock a "strong-buy" rating in a report on Thursday, July 25th. The Goldman Sachs Group raised their price target on Tenet Healthcare from $173.00 to $196.00 and gave the company a "buy" rating in a report on Wednesday, October 30th. Barclays upped their price objective on shares of Tenet Healthcare from $171.00 to $190.00 and gave the stock an "overweight" rating in a research report on Friday. Citigroup boosted their price target on shares of Tenet Healthcare from $139.00 to $171.00 and gave the stock a "buy" rating in a research note on Thursday, July 25th. Finally, Wells Fargo & Company lifted their price objective on shares of Tenet Healthcare from $195.00 to $205.00 and gave the stock an "overweight" rating in a report on Wednesday, November 6th. One research analyst has rated the stock with a hold rating, fourteen have given a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $165.35.

Tenet Healthcare Trading Up 1.0 %

Shares of THC stock traded up $1.70 during mid-day trading on Monday, reaching $166.91. The stock had a trading volume of 896,104 shares, compared to its average volume of 1,215,637. The company has a current ratio of 1.58, a quick ratio of 1.52 and a debt-to-equity ratio of 2.35. The stock's 50-day moving average price is $159.43 and its two-hundred day moving average price is $145.16. The firm has a market capitalization of $15.87 billion, a PE ratio of 5.29, a price-to-earnings-growth ratio of 0.74 and a beta of 2.15. Tenet Healthcare Co. has a 52-week low of $53.63 and a 52-week high of $171.20.

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

Tenet Healthcare announced that its board has approved a share buyback program on Wednesday, July 24th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the company to buy up to 10.3% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's management believes its shares are undervalued.

Insider Transactions at Tenet Healthcare

In related news, EVP Lisa Y. Foo sold 4,000 shares of the stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $155.94, for a total value of $623,760.00. Following the completion of the transaction, the executive vice president now directly owns 15,566 shares of the company's stock, valued at $2,427,362.04. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Tenet Healthcare news, CEO Saumya Sutaria sold 86,227 shares of the firm's stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 13,773 shares of the company's stock, valued at approximately $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 Securities & Exchange Commission, which is accessible through this link. Also, EVP Lisa Y. Foo sold 4,000 shares of the firm'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 value of $623,760.00. Following the transaction, the executive vice president now directly owns 15,566 shares of the company's stock, valued at approximately $2,427,362.04. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 112,203 shares of company stock valued at $17,451,957. Company insiders own 0.93% of the company's stock.

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.