Crossmark Global Holdings Inc. Has $1.03 Million Stock Position in Tenet Healthcare Co. (NYSE:THC)

Crossmark Global Holdings Inc. raised its holdings in Tenet Healthcare Co. (NYSE:THC) by 34.9% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 6,187 shares of the company’s stock after acquiring an additional 1,600 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Tenet Healthcare were worth $1,028,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of THC. Innealta Capital LLC acquired a new stake in shares of Tenet Healthcare during the second quarter worth $28,000. ORG Wealth Partners LLC acquired a new stake in shares of Tenet Healthcare during the third quarter worth $30,000. ORG Partners LLC acquired a new stake in shares of Tenet Healthcare during the second quarter worth $31,000. Blue Trust Inc. increased its position in shares of Tenet Healthcare by 93.0% during the second quarter. Blue Trust Inc. now owns 249 shares of the company’s stock worth $33,000 after buying an additional 120 shares during the period. Finally, Kayne Anderson Rudnick Investment Management LLC acquired a new stake in shares of Tenet Healthcare during the second quarter worth $34,000. 95.44% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

THC has been the topic of several research analyst reports. UBS Group increased their target price on shares of Tenet Healthcare from $197.00 to $217.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. KeyCorp initiated coverage on shares of Tenet Healthcare in a research note on Friday, October 11th. They set an “overweight” rating and a $200.00 target price on the stock. Cantor Fitzgerald increased their target price on shares of Tenet Healthcare from $168.00 to $177.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Raymond James increased their target price on shares of Tenet Healthcare from $130.00 to $175.00 and gave the stock a “strong-buy” rating in a research note on Thursday, July 25th. Finally, Truist Financial reissued a “buy” rating and set a $190.00 target price (up from $180.00) on shares of Tenet Healthcare in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $170.38.

Tenet Healthcare Stock Down 0.2 %

THC opened at $162.64 on Friday. The company has a debt-to-equity ratio of 2.35, a current ratio of 1.58 and a quick ratio of 1.52. The company’s 50-day moving average is $159.54 and its 200 day moving average is $146.36. Tenet Healthcare Co. has a fifty-two week low of $57.65 and a fifty-two week high of $171.20. The firm has a market capitalization of $15.47 billion, a P/E ratio of 5.21, a PEG ratio of 0.73 and a beta of 2.15.

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

Tenet Healthcare declared that its board has authorized a stock repurchase 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 stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In related news, EVP Lisa Y. Foo sold 4,000 shares of the firm’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $155.94, for a total transaction of $623,760.00. Following the completion of the sale, the executive vice president now owns 15,566 shares in the company, valued at approximately $2,427,362.04. This trade represents a 20.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider R. Scott Ramsey sold 11,599 shares of the firm’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $162.06, for a total transaction of $1,879,733.94. Following the sale, the insider now owns 6,324 shares of the company’s stock, valued at $1,024,867.44. This trade represents a 64.72 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 17,599 shares of company stock worth $2,830,834. 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.