Oppenheimer Asset Management Inc. Purchases 30,182 Shares of Tenet Healthcare Corporation $THC

Oppenheimer Asset Management Inc. increased its position in Tenet Healthcare Corporation (NYSE:THC) by 107.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 58,265 shares of the company’s stock after acquiring an additional 30,182 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Tenet Healthcare were worth $10,255,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Wayfinding Financial LLC acquired a new stake in shares of Tenet Healthcare during the 1st quarter valued at about $28,000. SVB Wealth LLC acquired a new position in shares of Tenet Healthcare during the first quarter worth approximately $30,000. N.E.W. Advisory Services LLC acquired a new position in shares of Tenet Healthcare during the first quarter worth approximately $31,000. Brooklyn Investment Group lifted its position in shares of Tenet Healthcare by 908.7% during the first quarter. Brooklyn Investment Group now owns 232 shares of the company’s stock worth $31,000 after purchasing an additional 209 shares in the last quarter. Finally, Chung Wu Investment Group LLC acquired a new position in shares of Tenet Healthcare during the second quarter worth approximately $35,000. 95.44% of the stock is currently owned by institutional investors and hedge funds.

Tenet Healthcare Stock Performance

Shares of THC stock opened at $210.62 on Monday. The company has a market capitalization 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 debt-to-equity ratio of 2.39, a quick ratio of 1.63 and a current ratio of 1.71. The company has a 50-day simple moving average of $192.69 and a 200 day simple moving average of $170.17. Tenet Healthcare Corporation has a 52 week low of $109.82 and a 52 week high of $217.43.

Insiders Place Their Bets

In other Tenet Healthcare news, CEO Saumya Sutaria sold 78,762 shares of Tenet Healthcare 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 completion of the sale, the chief executive officer owned 368,683 shares in the company, valued at $70,337,342.74. The trade was a 17.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Lisa Y. Foo sold 8,000 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at $3,748,227.34. The trade was a 27.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 90,722 shares of company stock worth $17,161,015 in the last quarter. 0.81% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts recently weighed in on THC shares. Weiss Ratings restated a “hold (c+)” rating on shares of Tenet Healthcare in a report on Friday. Raymond James Financial reaffirmed an “outperform” rating and issued a $200.00 target price (up previously from $185.00) on shares of Tenet Healthcare in a research note on Wednesday, July 23rd. Zacks Research downgraded shares of Tenet Healthcare from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Bank of America upped their target price on shares of Tenet Healthcare from $205.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, September 10th. 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 equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, Tenet Healthcare has an average rating of “Moderate Buy” and an average target price of $209.25.

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.