Hantz Financial Services Inc. Makes New $83,000 Investment in Tenet Healthcare Co. (NYSE:THC)

Hantz Financial Services Inc. acquired a new position in Tenet Healthcare Co. (NYSE:THC) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 498 shares of the company’s stock, valued at approximately $83,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Optas LLC grew its stake in shares of Tenet Healthcare by 3.4% during the third quarter. Optas LLC now owns 2,821 shares of the company’s stock worth $469,000 after acquiring an additional 93 shares during the last quarter. Signaturefd LLC grew its position in Tenet Healthcare by 17.6% during the 3rd quarter. Signaturefd LLC now owns 628 shares of the company’s stock worth $104,000 after purchasing an additional 94 shares during the last quarter. CIBC Asset Management Inc raised its holdings in shares of Tenet Healthcare by 3.4% in the third quarter. CIBC Asset Management Inc now owns 2,887 shares of the company’s stock worth $480,000 after buying an additional 94 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Tenet Healthcare by 20.7% during the second quarter. EverSource Wealth Advisors LLC now owns 560 shares of the company’s stock worth $74,000 after buying an additional 96 shares during the period. Finally, First Citizens Bank & Trust Co. increased its position in shares of Tenet Healthcare by 5.1% in the 3rd quarter. First Citizens Bank & Trust Co. now owns 2,226 shares of the company’s stock valued at $370,000 after acquiring an additional 109 shares during the period. Hedge funds and other institutional investors own 95.44% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on THC. Wells Fargo & Company downgraded Tenet Healthcare from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $205.00 to $150.00 in a research note on Monday, November 25th. Raymond James downgraded shares of Tenet Healthcare from a “strong-buy” rating to an “outperform” rating and set a $195.00 price target on the stock. in a report on Friday, November 22nd. KeyCorp started coverage on shares of Tenet Healthcare in a research note on Friday, October 11th. They set an “overweight” rating and a $200.00 price objective for the company. UBS Group raised their target price on shares of Tenet Healthcare from $197.00 to $217.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $190.00 price target (up from $180.00) on shares of Tenet Healthcare in a report on Wednesday, October 30th. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $168.19.

Tenet Healthcare Stock Performance

THC opened at $141.95 on Tuesday. The company has a market cap of $13.50 billion, a price-to-earnings ratio of 4.55, a PEG ratio of 0.64 and a beta of 2.15. The firm’s fifty day simple moving average is $156.87 and its two-hundred day simple moving average is $148.73. The company has a quick ratio of 1.52, a current ratio of 1.58 and a debt-to-equity ratio of 2.35. Tenet Healthcare Co. has a 52-week low of $67.78 and a 52-week high of $171.20.

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

Insider Transactions at Tenet Healthcare

In other news, insider R. Scott Ramsey sold 11,599 shares of the business’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $162.06, for a total transaction of $1,879,733.94. Following the transaction, the insider now owns 6,324 shares of the company’s stock, valued at approximately $1,024,867.44. The trade was a 64.72 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Lisa Y. Foo sold 4,000 shares of Tenet Healthcare stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $155.94, for a total transaction of $623,760.00. Following the transaction, the executive vice president now directly owns 15,566 shares in the company, valued at $2,427,362.04. This trade represents a 20.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.93% of the company’s stock.

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.