Exencial Wealth Advisors LLC Takes Position in Tenet Healthcare Corporation $THC

Exencial Wealth Advisors LLC purchased a new stake in shares of Tenet Healthcare Corporation (NYSE:THC) in the second quarter, according to its most recent 13F filing with the SEC. The fund purchased 1,139 shares of the company’s stock, valued at approximately $200,000.

Other hedge funds have also recently made changes to their positions in the company. US Bancorp DE lifted its stake in Tenet Healthcare by 0.8% in the first quarter. US Bancorp DE now owns 8,620 shares of the company’s stock worth $1,159,000 after purchasing an additional 68 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in Tenet Healthcare by 2.8% in the second quarter. Farther Finance Advisors LLC now owns 2,615 shares of the company’s stock worth $460,000 after purchasing an additional 70 shares during the last quarter. Lindbrook Capital LLC lifted its stake in Tenet Healthcare by 5.3% in the first quarter. Lindbrook Capital LLC now owns 1,427 shares of the company’s stock worth $192,000 after purchasing an additional 72 shares during the last quarter. Signaturefd LLC lifted its stake in Tenet Healthcare by 11.2% in the second quarter. Signaturefd LLC now owns 732 shares of the company’s stock worth $129,000 after purchasing an additional 74 shares during the last quarter. Finally, Vista Investment Partners LLC lifted its stake in Tenet Healthcare by 0.3% in the second quarter. Vista Investment Partners LLC now owns 25,257 shares of the company’s stock worth $4,445,000 after purchasing an additional 76 shares during the last quarter. 95.44% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

THC has been the subject of several recent analyst reports. Zacks Research downgraded shares of Tenet Healthcare from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Truist Financial set a $225.00 price objective on shares of Tenet Healthcare in a research note on Tuesday, October 14th. Barclays upped their price objective on shares of Tenet Healthcare from $208.00 to $229.00 and gave the company an “overweight” rating in a research note on Thursday, September 18th. KeyCorp upped their price objective on shares of Tenet Healthcare from $205.00 to $225.00 and gave the company an “overweight” rating in a research note on Wednesday, October 8th. Finally, Wolfe Research downgraded shares of Tenet Healthcare from an “outperform” rating to a “peer perform” rating in a research note on Monday, July 28th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Tenet Healthcare currently has an average rating of “Moderate Buy” and an average target price of $209.25.

Tenet Healthcare Price Performance

Shares of NYSE THC opened at $210.62 on Friday. Tenet Healthcare Corporation has a 1 year low of $109.82 and a 1 year high of $217.43. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.71 and a quick ratio of 1.63. The company’s 50-day moving average is $192.69 and its 200 day moving average is $169.55. The stock has a market capitalization of $18.61 billion, a P/E ratio of 13.48, a P/E/G ratio of 0.89 and a beta of 1.52.

Tenet Healthcare (NYSE:THC) last announced its quarterly earnings results on Tuesday, July 22nd. The company reported $4.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.84 by $1.18. The company had revenue of $5.27 billion for 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%. Tenet Healthcare’s quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.31 earnings per share. On average, sell-side analysts expect that Tenet Healthcare Corporation will post 12.24 earnings per share for the current year.

Insiders Place Their Bets

In other Tenet Healthcare news, CEO Saumya Sutaria sold 78,762 shares of the company’s stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $190.78, for a total value of $15,026,214.36. Following the sale, the chief executive officer owned 368,683 shares in the company, valued at approximately $70,337,342.74. This represents a 17.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Lisa Y. Foo sold 8,000 shares of the company’s stock in a transaction dated 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 owned 20,878 shares in the company, valued at approximately $3,748,227.34. This trade represents a 27.70% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 90,722 shares of company stock worth $17,161,015. 0.81% of the stock is currently owned by company insiders.

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.