Oppenheimer Asset Management Inc. Sells 7,774 Shares of Tenet Healthcare Corporation $THC

Oppenheimer Asset Management Inc. cut its holdings in Tenet Healthcare Corporation (NYSE:THC) by 13.3% during the third quarter, Holdings Channel reports. The institutional investor owned 50,491 shares of the company’s stock after selling 7,774 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Tenet Healthcare were worth $10,252,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. AlphaQuest LLC grew its position in Tenet Healthcare by 230.8% during the second quarter. AlphaQuest LLC now owns 1,763 shares of the company’s stock valued at $310,000 after buying an additional 1,230 shares during the period. WCM Investment Management LLC boosted its stake in shares of Tenet Healthcare by 244.4% during the 3rd quarter. WCM Investment Management LLC now owns 510,224 shares of the company’s stock worth $102,657,000 after acquiring an additional 362,083 shares during the last quarter. Winnow Wealth LLC bought a new stake in shares of Tenet Healthcare during the 3rd quarter valued at $1,129,000. Cerity Partners LLC raised its holdings in Tenet Healthcare by 10.4% in the 2nd quarter. Cerity Partners LLC now owns 120,623 shares of the company’s stock worth $21,230,000 after purchasing an additional 11,395 shares during the period. Finally, Savant Capital LLC grew its holdings in Tenet Healthcare by 27.5% during the third quarter. Savant Capital LLC now owns 16,894 shares of the company’s stock valued at $3,430,000 after purchasing an additional 3,647 shares during the period. Institutional investors own 95.44% of the company’s stock.

Insider Activity

In other news, Director Nadja West sold 2,178 shares of the stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $197.47, for a total transaction of $430,089.66. Following the completion of the transaction, the director directly owned 28,480 shares in the company, valued at approximately $5,623,945.60. This represents a 7.10% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.81% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Barclays increased their target price on shares of Tenet Healthcare from $229.00 to $240.00 and gave the stock an “overweight” rating in a report on Friday, November 21st. Truist Financial restated a “buy” rating and set a $240.00 price objective (up from $225.00) on shares of Tenet Healthcare in a research report on Monday, November 3rd. Weiss Ratings raised shares of Tenet Healthcare from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, December 29th. Royal Bank Of Canada raised their price target on Tenet Healthcare from $252.00 to $253.00 and gave the company an “outperform” rating in a report on Tuesday, February 3rd. Finally, TD Cowen reaffirmed a “buy” rating on shares of Tenet Healthcare in a research note on Wednesday, January 7th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Tenet Healthcare currently has a consensus rating of “Moderate Buy” and an average price target of $233.88.

Tenet Healthcare Trading Down 4.2%

Shares of Tenet Healthcare stock opened at $192.84 on Tuesday. The company has a quick ratio of 1.64, a current ratio of 1.71 and a debt-to-equity ratio of 2.27. The firm has a market cap of $16.95 billion, a price-to-earnings ratio of 13.22, a PEG ratio of 0.85 and a beta of 1.45. Tenet Healthcare Corporation has a twelve month low of $109.82 and a twelve month high of $222.82. The business has a 50-day moving average price of $198.14 and a 200-day moving average price of $193.40.

Tenet Healthcare Company Profile

Tenet Healthcare Corporation (NYSE: THC) is a diversified American healthcare services company that owns and operates acute care hospitals and a broad range of outpatient facilities. Its portfolio includes general acute-care hospitals, specialty hospitals, ambulatory surgery centers, urgent care and diagnostic imaging centers, and other ancillary service locations. Tenet’s operations are oriented around delivering inpatient and outpatient clinical care across multiple medical specialties, with an emphasis on surgical services, emergency care, and advanced diagnostics.

In addition to facility-based care, Tenet provides integrated services designed to support clinical operations and improve patient access and care coordination.