Freedom Investment Management Inc. Has $264,000 Holdings in Tenet Healthcare Corporation $THC

Freedom Investment Management Inc. cut its holdings in shares of Tenet Healthcare Corporation (NYSE:THC) by 24.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,502 shares of the company’s stock after selling 482 shares during the quarter. Freedom Investment Management Inc.’s holdings in Tenet Healthcare were worth $264,000 at the end of the most recent quarter.

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

Insiders Place Their Bets

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

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. KeyCorp raised their price target on Tenet Healthcare from $205.00 to $225.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 8th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $190.00 price target on shares of Tenet Healthcare in a research note on Tuesday, October 7th. Mizuho raised their price target on Tenet Healthcare from $194.00 to $225.00 and gave the stock an “outperform” rating in a research note on Friday, October 17th. Robert W. Baird cut their price target on Tenet Healthcare from $195.00 to $167.00 and set a “neutral” rating for the company in a research note on Friday, July 25th. Finally, Wolfe Research downgraded Tenet Healthcare from an “outperform” rating to a “peer perform” rating in a research note on Monday, July 28th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $209.25.

Tenet Healthcare Stock Up 3.1%

Shares of THC stock opened at $216.94 on Tuesday. The stock’s 50 day simple moving average is $193.60 and its 200 day simple moving average is $170.77. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.63 and a current ratio of 1.71. Tenet Healthcare Corporation has a twelve month low of $109.82 and a twelve month high of $217.43. The company has a market capitalization of $19.17 billion, a price-to-earnings ratio of 13.89, 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.