RPg Family Wealth Advisory LLC Acquires Shares of 53,456 Tenet Healthcare Co. (NYSE:THC)

RPg Family Wealth Advisory LLC purchased a new stake in shares of Tenet Healthcare Co. (NYSE:THC) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 53,456 shares of the company’s stock, valued at approximately $8,884,000. Tenet Healthcare comprises about 2.5% of RPg Family Wealth Advisory LLC’s investment portfolio, making the stock its 7th biggest position. RPg Family Wealth Advisory LLC owned approximately 0.06% of Tenet Healthcare at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Blueshift Asset Management LLC acquired a new stake in Tenet Healthcare during the 3rd quarter worth approximately $1,042,000. Bridgewater Associates LP boosted its position in shares of Tenet Healthcare by 29.5% in the third quarter. Bridgewater Associates LP now owns 125,123 shares of the company’s stock valued at $20,795,000 after acquiring an additional 28,486 shares during the period. Freedom Investment Management Inc. bought a new position in Tenet Healthcare during the third quarter worth about $405,000. Cynosure Group LLC bought a new stake in Tenet Healthcare in the 3rd quarter valued at about $368,000. Finally, Townsquare Capital LLC bought a new position in shares of Tenet Healthcare during the third quarter worth approximately $384,000. 95.44% of the stock is owned by institutional investors.

Tenet Healthcare Stock Performance

NYSE THC opened at $145.64 on Wednesday. Tenet Healthcare Co. has a twelve month low of $65.90 and a twelve month high of $171.20. The stock has a fifty day simple moving average of $158.44 and a 200 day simple moving average of $148.32. The company has a market capitalization of $13.85 billion, a price-to-earnings ratio of 4.66, a PEG ratio of 0.64 and a beta of 2.15. 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 (NYSE:THC) last posted its earnings results 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 firm had revenue of $5.12 billion during the quarter, compared to the consensus estimate of $5.05 billion. Tenet Healthcare had a net margin of 14.91% and a return on equity of 24.05%. The company’s revenue was up 1.1% on a year-over-year basis. During the same quarter last year, the company earned $1.44 earnings per share. Sell-side analysts expect that Tenet Healthcare Co. will post 11.38 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. The Goldman Sachs Group increased their price target on Tenet Healthcare from $173.00 to $196.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. UBS Group upped their price objective on shares of Tenet Healthcare from $197.00 to $217.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Royal Bank of Canada lifted their price objective on shares of Tenet Healthcare from $174.00 to $183.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Barclays boosted their price target on Tenet Healthcare from $171.00 to $190.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. Finally, Truist Financial reissued a “buy” rating and set a $190.00 target price (up previously from $180.00) on shares of Tenet Healthcare in a research note 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $168.19.

Insiders Place Their Bets

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