Financial Management Professionals Inc. Has $35,000 Holdings in Tenet Healthcare Co. (NYSE:THC)

Financial Management Professionals Inc. increased its position in Tenet Healthcare Co. (NYSE:THC) by 2,222.2% in the 3rd quarter, Holdings Channel reports. The firm owned 209 shares of the company’s stock after buying an additional 200 shares during the quarter. Financial Management Professionals Inc.’s holdings in Tenet Healthcare were worth $35,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of THC. Innealta Capital LLC bought a new position in shares of Tenet Healthcare during the 2nd quarter worth about $28,000. ORG Wealth Partners LLC bought a new position in Tenet Healthcare during the third quarter worth about $30,000. ORG Partners LLC acquired a new stake in Tenet Healthcare during the second quarter valued at approximately $31,000. Blue Trust Inc. raised its holdings in shares of Tenet Healthcare by 93.0% in the 2nd quarter. Blue Trust Inc. now owns 249 shares of the company’s stock worth $33,000 after buying an additional 120 shares in the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC bought a new position in shares of Tenet Healthcare during the 2nd quarter worth approximately $34,000. Institutional investors and hedge funds own 95.44% of the company’s stock.

Insiders Place Their Bets

In related news, insider R. Scott Ramsey sold 11,599 shares of the firm’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $162.06, for a total transaction of $1,879,733.94. Following the sale, the insider now owns 6,324 shares of the company’s stock, valued at approximately $1,024,867.44. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Tenet Healthcare news, insider R. Scott Ramsey sold 11,599 shares of the stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $162.06, for a total value of $1,879,733.94. Following the completion of the sale, the insider now directly owns 6,324 shares in the company, valued at $1,024,867.44. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Saumya Sutaria sold 86,227 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $154.41, for a total value of $13,314,311.07. Following the completion of the transaction, the chief executive officer now owns 13,773 shares of the company’s stock, valued at $2,126,688.93. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 128,203 shares of company stock worth $19,754,997. Company insiders own 0.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Raymond James increased their target price on Tenet Healthcare from $130.00 to $175.00 and gave the stock a “strong-buy” rating in a report on Thursday, July 25th. Truist Financial raised their price objective on shares of Tenet Healthcare from $170.00 to $180.00 and gave the company a “buy” rating in a research report on Monday, October 14th. The Goldman Sachs Group upped their target price on shares of Tenet Healthcare from $156.00 to $173.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Wells Fargo & Company boosted their price objective on shares of Tenet Healthcare from $175.00 to $195.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 22nd. Finally, UBS Group increased their price objective on Tenet Healthcare from $180.00 to $197.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. One equities research analyst has rated the stock with a hold rating, fourteen have given a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $157.24.

Tenet Healthcare Stock Performance

Shares of THC stock opened at $139.77 on Monday. The stock has a market cap of $13.65 billion, a PE ratio of 5.42, a price-to-earnings-growth ratio of 0.80 and a beta of 2.14. The stock has a 50-day moving average of $159.85 and a 200-day moving average of $140.77. The company has a debt-to-equity ratio of 2.53, a current ratio of 1.45 and a quick ratio of 1.38. Tenet Healthcare Co. has a one year low of $51.04 and a one year high of $171.20.

Tenet Healthcare declared that its board has initiated a share buyback program on Wednesday, July 24th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the company to reacquire up to 10.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its shares are undervalued.

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.