Exencial Wealth Advisors LLC Invests $200,000 in Tenet Healthcare Corporation $THC

Exencial Wealth Advisors LLC bought a new position in Tenet Healthcare Corporation (NYSE:THC) during the 2nd quarter, HoldingsChannel reports. The fund bought 1,139 shares of the company’s stock, valued at approximately $200,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. bought a new position in shares of Tenet Healthcare in the first quarter worth approximately $212,000. Envestnet Asset Management Inc. lifted its stake in shares of Tenet Healthcare by 3.3% in the first quarter. Envestnet Asset Management Inc. now owns 203,582 shares of the company’s stock worth $27,382,000 after buying an additional 6,424 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Tenet Healthcare by 65.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,420 shares of the company’s stock valued at $189,000 after purchasing an additional 562 shares during the period. Royal Bank of Canada lifted its position in Tenet Healthcare by 34.0% during the first quarter. Royal Bank of Canada now owns 119,349 shares of the company’s stock valued at $16,052,000 after purchasing an additional 30,281 shares during the period. Finally, GAMMA Investing LLC lifted its position in Tenet Healthcare by 28.1% during the first quarter. GAMMA Investing LLC now owns 1,430 shares of the company’s stock valued at $192,000 after purchasing an additional 314 shares during the period. Institutional investors own 95.44% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on THC. Truist Financial set a $225.00 price objective on shares of Tenet Healthcare in a research report on Tuesday, October 14th. Bank of America increased their price objective on shares of Tenet Healthcare from $205.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, September 10th. UBS Group increased their price objective on shares of Tenet Healthcare from $230.00 to $238.00 and gave the company a “buy” rating in a research report on Wednesday, July 23rd. Guggenheim increased their price target on shares of Tenet Healthcare from $180.00 to $188.00 and gave the stock a “buy” rating in a research report on Wednesday, July 23rd. Finally, Wolfe Research downgraded shares of Tenet Healthcare from an “outperform” rating to a “peer perform” rating in a research report on Monday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, Tenet Healthcare currently has an average rating of “Moderate Buy” and a consensus price target of $209.25.

Insider Transactions at Tenet Healthcare

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

Tenet Healthcare Stock Up 1.8%

THC opened at $210.62 on Friday. The firm’s 50 day simple moving average is $192.69 and its two-hundred day simple moving average is $169.55. The company has a current ratio of 1.71, a quick ratio of 1.63 and a debt-to-equity ratio of 2.39. The company has a market capitalization of $18.61 billion, a PE ratio of 13.48, a PEG ratio of 0.89 and a beta of 1.52. Tenet Healthcare Corporation has a 1-year low of $109.82 and a 1-year high of $217.43.

Tenet Healthcare (NYSE:THC) last announced its quarterly earnings data on Tuesday, July 22nd. The company reported $4.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.84 by $1.18. The firm had revenue of $5.27 billion during the quarter, compared to analysts’ expectations of $5.16 billion. Tenet Healthcare had a net margin of 7.17% and a return on equity of 24.69%. The company’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period in the prior year, the company posted $2.31 earnings per share. As a group, equities analysts forecast that Tenet Healthcare Corporation will post 12.24 EPS for the current year.

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.