Signaturefd LLC Purchases 94 Shares of Tenet Healthcare Co. (NYSE:THC)

Signaturefd LLC increased its position in shares of Tenet Healthcare Co. (NYSE:THC) by 17.6% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 628 shares of the company’s stock after acquiring an additional 94 shares during the period. Signaturefd LLC’s holdings in Tenet Healthcare were worth $104,000 at the end of the most recent reporting period.

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

Tenet Healthcare Trading Down 0.2 %

Shares of THC stock opened at $139.43 on Tuesday. The company has a debt-to-equity ratio of 2.53, a quick ratio of 1.38 and a current ratio of 1.45. Tenet Healthcare Co. has a 52-week low of $51.04 and a 52-week high of $171.20. The company has a market capitalization of $13.36 billion, a PE ratio of 5.11, a price-to-earnings-growth ratio of 0.71 and a beta of 2.14. The business’s fifty day moving average is $159.51 and its 200 day moving average is $141.04.

Tenet Healthcare announced that its board has initiated a stock buyback program on Wednesday, July 24th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 10.3% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $168.00 price target on shares of Tenet Healthcare in a research report on Tuesday, October 1st. Citigroup upped their target price on Tenet Healthcare from $139.00 to $171.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Raymond James upped their target price on Tenet Healthcare from $130.00 to $175.00 and gave the company a “strong-buy” rating in a research report on Thursday, July 25th. Truist Financial upped their target price on Tenet Healthcare from $170.00 to $180.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Finally, Wells Fargo & Company upped their target price on Tenet Healthcare from $175.00 to $195.00 and gave the company an “overweight” rating in a research report on Tuesday, October 22nd. One 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. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $157.24.

Insider Buying and Selling

In related news, Director Richard W. Fisher sold 2,000 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $163.67, for a total value of $327,340.00. Following the sale, the director now owns 14,227 shares in the company, valued at approximately $2,328,533.09. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Tenet Healthcare news, Director Richard W. Fisher sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $163.67, for a total transaction of $327,340.00. Following the sale, the director now owns 14,227 shares in the company, valued at $2,328,533.09. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Saumya Sutaria sold 86,227 shares of the firm’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 in the company, valued at $2,126,688.93. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 128,203 shares of company stock worth $19,754,997. Corporate 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.