Tenet Healthcare Corporation $THC Shares Bought by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D raised its position in Tenet Healthcare Corporation (NYSE:THC) by 1.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Tenet Healthcare during the first quarter worth about $212,000. Envestnet Asset Management Inc. grew its position in shares of Tenet Healthcare by 3.3% during 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. grew its position in shares of 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 worth $189,000 after buying an additional 562 shares in the last quarter. Royal Bank of Canada grew its position in shares of Tenet Healthcare by 34.0% during the first quarter. Royal Bank of Canada now owns 119,349 shares of the company’s stock worth $16,052,000 after buying an additional 30,281 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in shares of Tenet Healthcare by 28.1% during the first quarter. GAMMA Investing LLC now owns 1,430 shares of the company’s stock worth $192,000 after buying an additional 314 shares in the last quarter. 95.44% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on THC shares. Bank of America boosted their target price on Tenet Healthcare from $205.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, September 10th. Cantor Fitzgerald restated an “overweight” rating and set a $190.00 target price on shares of Tenet Healthcare in a research note on Tuesday, October 7th. Mizuho boosted their target price on Tenet Healthcare from $194.00 to $225.00 and gave the stock an “outperform” rating in a research note on Friday, October 17th. The Goldman Sachs Group started coverage on Tenet Healthcare in a research note on Tuesday, October 14th. They set a “buy” rating and a $224.00 target price for the company. Finally, Raymond James Financial restated an “outperform” rating and set a $200.00 target price (up previously from $185.00) on shares of Tenet Healthcare in a research note on Wednesday, July 23rd. One research 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. According to data from MarketBeat, the company currently has a consensus 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 Monday. 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 twelve month low of $109.82 and a twelve month high of $217.43. The stock has a 50 day moving average of $192.69 and a two-hundred day moving average of $170.17. The stock has a market cap of $18.61 billion, a P/E ratio of 13.48, a P/E/G ratio of 0.90 and a beta of 1.52.

Insider Transactions at Tenet Healthcare

In other Tenet Healthcare news, EVP Lisa Y. Foo sold 8,000 shares of the company’s stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $179.53, for a total transaction of $1,436,240.00. Following the completion of the transaction, the executive vice president owned 20,878 shares in the company, valued at approximately $3,748,227.34. This represents a 27.70% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Saumya Sutaria sold 78,762 shares of the company’s stock in a transaction 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 approximately $70,337,342.74. The trade was a 17.60% decrease in their position. The disclosure for this sale can be found here. Insiders sold 90,722 shares of company stock worth $17,161,015 over the last 90 days. 0.81% of the stock is currently owned by 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.