Tenet Healthcare Corporation $THC Stock Bought by Signaturefd LLC

Signaturefd LLC boosted its holdings in shares of Tenet Healthcare Corporation (NYSE:THC) by 269.9% during the third quarter, Holdings Channel reports. The firm owned 2,819 shares of the company’s stock after acquiring an additional 2,057 shares during the quarter. Signaturefd LLC’s holdings in Tenet Healthcare were worth $720,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. V Square Quantitative Management LLC purchased a new stake in Tenet Healthcare in the 3rd quarter worth approximately $26,000. Mather Group LLC. grew its position in shares of Tenet Healthcare by 126.9% in the 3rd quarter. Mather Group LLC. now owns 118 shares of the company’s stock worth $30,000 after buying an additional 66 shares during the last quarter. Trust Co. of Vermont purchased a new position in shares of Tenet Healthcare during the second quarter valued at approximately $37,000. OP Asset Management Ltd purchased a new position in shares of Tenet Healthcare during the first quarter valued at approximately $49,000. Finally, Compass Financial Management LLC bought a new position in shares of Tenet Healthcare during the second quarter valued at approximately $57,000. Institutional investors own 95.44% of the company’s stock.

Insiders Place Their Bets

In other news, Director Richard J. Mark sold 10,000 shares of the company’s stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $263.42, for a total value of $2,634,200.00. Following the sale, the director directly owned 25,121 shares of the company’s stock, valued at $6,617,373.82. This represents a 28.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Tammy Romo sold 4,922 shares of the stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $264.15, for a total transaction of $1,300,146.30. Following the completion of the transaction, the director owned 30,784 shares of the company’s stock, valued at approximately $8,131,593.60. The trade was a 13.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 106,484 shares of company stock valued at $28,898,063 in the last 90 days. Corporate insiders own 0.97% of the company’s stock.

Tenet Healthcare Trading Up 2.2%

THC opened at $267.75 on Thursday. The company has a quick ratio of 1.35, a current ratio of 1.41 and a debt-to-equity ratio of 2.00. Tenet Healthcare Corporation has a 52 week low of $157.58 and a 52 week high of $283.05. The stock has a market cap of $21.56 billion, a PE ratio of 10.33, a PEG ratio of 1.02 and a beta of 1.20. The business has a 50 day moving average of $264.84 and a 200-day moving average of $219.63.

Wall Street Analyst Weigh In

A number of brokerages recently commented on THC. Wells Fargo & Company raised their price target on Tenet Healthcare from $231.00 to $281.00 and gave the stock an “overweight” rating in a research note on Monday, August 3rd. BMO Capital Markets initiated coverage on shares of Tenet Healthcare in a research report on Tuesday, September 22nd. They set a “market perform” rating and a $265.00 price objective on the stock. Barclays upped their price objective on shares of Tenet Healthcare from $240.00 to $271.00 and gave the stock an “overweight” rating in a report on Friday, July 24th. Zacks Research cut shares of Tenet Healthcare from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 29th. Finally, UBS Group lifted their target price on shares of Tenet Healthcare from $288.00 to $308.00 and gave the company a “buy” rating in a research note on Monday, July 27th. Eighteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Tenet Healthcare presently has an average rating of “Moderate Buy” and a consensus price target of $280.21.

Tenet Healthcare Company Profile

Tenet Healthcare Corp. (NYSE: THC) is a diversified healthcare services company headquartered in Dallas, Texas. Through its hospital operations and outpatient platforms, the company provides a range of medical services to patients across the United States.

Tenet operates acute care and specialty hospitals, ambulatory surgery centers, imaging facilities and other outpatient care sites. Its United Surgical Partners International subsidiary is a major provider of ambulatory surgery services and partners with physicians and health systems.