State of New Jersey Common Pension Fund D Grows Position in Tenet Healthcare Corporation $THC

State of New Jersey Common Pension Fund D boosted its holdings in Tenet Healthcare Corporation (NYSE:THC) by 1.1% in the 2nd quarter, HoldingsChannel reports. The fund owned 31,452 shares of the company’s stock after acquiring an additional 338 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Tenet Healthcare were worth $5,536,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of THC. Wayfinding Financial LLC purchased a new position in Tenet Healthcare in the first quarter worth $28,000. SVB Wealth LLC acquired a new stake in Tenet Healthcare in the first quarter valued at $30,000. N.E.W. Advisory Services LLC acquired a new stake in Tenet Healthcare in the 1st quarter valued at about $31,000. Brooklyn Investment Group grew its stake in Tenet Healthcare by 908.7% in the 1st quarter. Brooklyn Investment Group now owns 232 shares of the company’s stock valued at $31,000 after acquiring an additional 209 shares during the last quarter. Finally, Chung Wu Investment Group LLC acquired a new stake in Tenet Healthcare in the 2nd quarter valued at about $35,000. Hedge funds and other institutional investors own 95.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on THC. Mizuho increased their price objective on shares of Tenet Healthcare from $194.00 to $225.00 and gave the company an “outperform” rating in a research note on Friday, October 17th. JPMorgan Chase & Co. increased their price objective on Tenet Healthcare from $190.00 to $200.00 and gave the company an “overweight” rating in a research note on Monday, August 4th. Barclays increased their price objective on Tenet Healthcare from $208.00 to $229.00 and gave the company an “overweight” rating in a research note on Thursday, September 18th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Tenet Healthcare in a research note on Friday. Finally, Guggenheim increased their price objective on Tenet Healthcare from $180.00 to $188.00 and gave the company a “buy” rating in a research note on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $209.25.

Insider Buying and Selling

In related news, Director Christopher S. Lynch sold 3,952 shares of the firm’s stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $176.39, for a total value of $697,093.28. Following the sale, the director directly owned 12,358 shares of the company’s stock, valued at approximately $2,179,827.62. This trade represents a 24.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Lisa Y. Foo sold 8,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $179.53, for a total transaction of $1,436,240.00. Following the completion of the sale, the executive vice president directly owned 20,878 shares in the company, valued at $3,748,227.34. This represents a 27.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 90,722 shares of company stock valued at $17,161,015. Insiders own 0.81% of the company’s stock.

Tenet Healthcare Stock Up 1.8%

Shares of NYSE:THC opened at $210.62 on Monday. The stock’s 50-day moving average price is $192.69 and its two-hundred day moving average price is $170.17. The company has a current ratio of 1.71, a quick ratio of 1.63 and a debt-to-equity ratio of 2.39. Tenet Healthcare Corporation has a 12-month low of $109.82 and a 12-month high of $217.43. The firm has a market cap of $18.61 billion, a price-to-earnings ratio of 13.48, a PEG ratio of 0.90 and a beta of 1.52.

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.