DekaBank Deutsche Girozentrale Buys 315 Shares of Tenet Healthcare Corporation $THC

DekaBank Deutsche Girozentrale lifted its stake in shares of Tenet Healthcare Corporation (NYSE:THC) by 11.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,083 shares of the company’s stock after acquiring an additional 315 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Tenet Healthcare were worth $536,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the stock. Stephens Inc. AR bought a new position in shares of Tenet Healthcare during the second quarter worth about $306,000. Chicago Partners Investment Group LLC bought a new position in shares of Tenet Healthcare during the second quarter worth about $273,000. Violich Capital Management Inc. increased its holdings in Tenet Healthcare by 7.0% in the second quarter. Violich Capital Management Inc. now owns 1,905 shares of the company’s stock worth $335,000 after purchasing an additional 125 shares in the last quarter. Wealthstream Advisors Inc. bought a new stake in Tenet Healthcare in the second quarter worth approximately $2,360,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Tenet Healthcare in the second quarter worth approximately $2,512,000. 95.44% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on THC shares. Wolfe Research downgraded Tenet Healthcare from an “outperform” rating to a “peer perform” rating in a report on Monday, July 28th. Guggenheim lifted their target price on Tenet Healthcare from $180.00 to $188.00 and gave the stock a “buy” rating in a report on Wednesday, July 23rd. The Goldman Sachs Group started coverage on Tenet Healthcare in a report on Tuesday, October 14th. They issued a “buy” rating and a $224.00 target price for the company. Bank of America raised their price objective on Tenet Healthcare from $205.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, September 10th. Finally, KeyCorp raised their price objective on Tenet Healthcare from $205.00 to $225.00 and gave the company an “overweight” rating in a research note on Wednesday, October 8th. One equities research 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 stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $209.25.

Insider Activity at Tenet Healthcare

In related news, CEO Saumya Sutaria sold 78,762 shares of Tenet Healthcare stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $190.78, for a total transaction of $15,026,214.36. Following the transaction, the chief executive officer owned 368,683 shares of the company’s stock, valued at $70,337,342.74. The trade was a 17.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Lisa Y. Foo sold 8,000 shares of Tenet Healthcare stock in a transaction that occurred 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 transaction, the executive vice president directly owned 20,878 shares in the company, valued at approximately $3,748,227.34. The trade was a 27.70% decrease in their position. 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 over the last 90 days. 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 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. The company has a quick ratio of 1.63, a current ratio of 1.71 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 business’s 50 day moving average is $192.69 and its 200 day moving average is $170.17.

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.