2,111 Shares in Tenet Healthcare Corporation $THC Bought by Provenance Wealth Advisors LLC

Provenance Wealth Advisors LLC acquired a new stake in Tenet Healthcare Corporation (NYSE:THC) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 2,111 shares of the company’s stock, valued at approximately $539,000.

A number of other hedge funds have also made changes to their positions in the stock. V Square Quantitative Management LLC bought a new stake in Tenet Healthcare during the third quarter worth approximately $26,000. Mather Group LLC. lifted its position in Tenet Healthcare by 126.9% in the third quarter. Mather Group LLC. now owns 118 shares of the company’s stock worth $30,000 after purchasing an additional 66 shares during the period. MADDEN SECURITIES Corp bought a new position in Tenet Healthcare during the 3rd quarter valued at $38,000. Trust Co. of Vermont bought a new position in Tenet Healthcare during the 2nd quarter valued at $37,000. Finally, Fortitude Family Office LLC increased its position in shares of Tenet Healthcare by 52.1% during the 3rd quarter. Fortitude Family Office LLC now owns 222 shares of the company’s stock valued at $57,000 after purchasing an additional 76 shares during the period. Institutional investors and hedge funds own 95.44% of the company’s stock.

Insiders Place Their Bets

In other news, Director Richard J. Mark sold 10,000 shares of the company’s stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $263.42, for a total transaction of $2,634,200.00. Following the completion of the sale, the director directly owned 25,121 shares of the company’s stock, valued at $6,617,373.82. This represents a 28.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Lisa Y. Foo sold 24,000 shares of the stock in a transaction on Monday, August 31st. The shares were sold at an average price of $266.32, for a total value of $6,391,680.00. Following the completion of the transaction, the executive vice president owned 8,053 shares of the company’s stock, valued at $2,144,674.96. This trade represents a 74.88% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 98,462 shares of company stock worth $26,788,234. Corporate insiders own 0.97% of the company’s stock.

Key Headlines Impacting Tenet Healthcare

Here are the key news stories impacting Tenet Healthcare this week:

• Positive Sentiment: Truist Financial reaffirmed its “Buy” rating on Tenet, signaling continued confidence in the company. Tenet Healthcare Stock Rating Reaffirmed as Buy by Truist Financial
• Positive Sentiment: KeyCorp, Wells Fargo, Leerink Partners and Royal Bank of Canada were also reported to expect potential appreciation in Tenet shares, adding to the positive analyst tone. KeyCorp Forecasts Strong Price Appreciation Wells Fargo Analyst Expects Tenet Stock to Rise Leerink Partners Forecasts Price Appreciation Royal Bank of Canada Forecasts Price Appreciation
• Positive Sentiment: Barclays raised its price target to $297 from $271 and maintained an “overweight” rating. The revised target suggests approximately 3.5% upside from the cited share price. Barclays Raises Tenet Price Target
• Neutral Sentiment: A report linked a sharp hospital-stock rally to investor expectations of policy relief after Democrats took Congress. Any benefit for Tenet is uncertain: the article notes that action would still require congressional approval, a presidential signature and resolution of a December funding fight. Hospital Stocks Soared as Democrats Took Congress
• Neutral Sentiment: Zacks described THC as a trending stock but offered general information rather than a distinct new company catalyst. Tenet Healthcare Is a Trending Stock

Analyst Upgrades and Downgrades

A number of analysts have recently commented on THC shares. Royal Bank Of Canada boosted their price objective on Tenet Healthcare from $283.00 to $304.00 and gave the stock an “outperform” rating in a research note on Monday. Barclays raised their target price on Tenet Healthcare from $271.00 to $297.00 and gave the company an “overweight” rating in a research note on Wednesday. Wall Street Zen raised Tenet Healthcare from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 17th. Bank of America boosted their price target on shares of Tenet Healthcare from $290.00 to $295.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. Finally, Raymond James Financial reissued an “outperform” rating and issued a $285.00 price target on shares of Tenet Healthcare in a report on Friday, August 14th. Twenty investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $293.48.

Tenet Healthcare Trading Down 1.8%

Shares of NYSE:THC opened at $286.89 on Friday. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.52 and a current ratio of 1.58. The stock has a market capitalization of $22.83 billion, a price-to-earnings ratio of 8.32, a PEG ratio of 1.56 and a beta of 1.20. Tenet Healthcare Corporation has a 1-year low of $157.58 and a 1-year high of $301.44. The company has a 50 day moving average price of $265.00 and a 200 day moving average price of $221.94.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings results on Thursday, October 29th. The company reported $6.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.68 by $1.96. Tenet Healthcare had a return on equity of 28.22% and a net margin of 13.09%. The company had revenue of $6.28 billion for the quarter, compared to analysts’ expectations of $5.49 billion. During the same quarter in the prior year, the company earned $3.70 earnings per share. The firm’s revenue was up 6.5% on a year-over-year basis. On average, research analysts anticipate that Tenet Healthcare Corporation will post 22.32 EPS for the current fiscal year.

Tenet Healthcare Company Profile

Tenet Healthcare Corp. (NYSE: THC) is a diversified healthcare services company headquartered in Dallas, Texas. Through its hospital operations and outpatient platforms, the company provides a range of medical services to patients across the United States.

Tenet operates acute care and specialty hospitals, ambulatory surgery centers, imaging facilities and other outpatient care sites. Its United Surgical Partners International subsidiary is a major provider of ambulatory surgery services and partners with physicians and health systems.