Wipfli Financial Advisors LLC Invests $31,000 in Tenet Healthcare Co. (NYSE:THC)

Wipfli Financial Advisors LLC purchased a new stake in shares of Tenet Healthcare Co. (NYSE:THC – Get Rating) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 596 shares of the company’s stock, valued at approximately $31,000.

Several other institutional investors have also recently added to or reduced their stakes in THC. Parkside Financial Bank & Trust grew its position in shares of Tenet Healthcare by 1,063.9% during the 1st quarter. Parkside Financial Bank & Trust now owns 419 shares of the company’s stock worth $36,000 after buying an additional 383 shares during the period. Lazard Asset Management LLC acquired a new position in shares of Tenet Healthcare in the first quarter valued at approximately $36,000. Washington Trust Advisors Inc. lifted its position in shares of Tenet Healthcare by 62.2% in the third quarter. Washington Trust Advisors Inc. now owns 746 shares of the company’s stock worth $38,000 after purchasing an additional 286 shares in the last quarter. CoreCap Advisors LLC bought a new stake in shares of Tenet Healthcare in the second quarter worth $39,000. Finally, Point72 Hong Kong Ltd bought a new stake in shares of Tenet Healthcare in the first quarter worth $78,000. 98.14% of the stock is owned by institutional investors.

Insider Activity at Tenet Healthcare

In other Tenet Healthcare news, CFO Daniel J. Cancelmi bought 11,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 26th. The stock was bought at an average price of $43.07 per share, for a total transaction of $473,770.00. Following the completion of the acquisition, the chief financial officer now directly owns 392,815 shares in the company, valued at $16,918,542.05. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Daniel J. Cancelmi purchased 11,000 shares of Tenet Healthcare stock in a transaction that occurred on Wednesday, October 26th. The shares were bought at an average cost of $43.07 per share, with a total value of $473,770.00. Following the completion of the purchase, the chief financial officer now directly owns 392,815 shares in the company, valued at $16,918,542.05. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard W. Fisher sold 9,817 shares of the company’s stock in a transaction on Tuesday, December 6th. The stock was sold at an average price of $43.86, for a total value of $430,573.62. Following the completion of the sale, the director now directly owns 24,545 shares in the company, valued at $1,076,543.70. The disclosure for this sale can be found here. 1.70% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have commented on THC. StockNews.com began coverage on shares of Tenet Healthcare in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. Stephens dropped their price objective on shares of Tenet Healthcare from $65.00 to $45.00 and set an “equal weight” rating for the company in a report on Monday, October 24th. Bank of America lowered their price target on shares of Tenet Healthcare from $79.00 to $64.00 in a report on Friday, October 21st. Credit Suisse Group reduced their price objective on shares of Tenet Healthcare to $80.00 in a research report on Thursday, October 27th. Finally, Raymond James reduced their price target on shares of Tenet Healthcare from $135.00 to $80.00 and set a “strong-buy” rating for the company in a research report on Thursday, October 27th. Two analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $71.19.

Tenet Healthcare Stock Down 3.1 %

Shares of THC opened at $51.76 on Friday. The company has a debt-to-equity ratio of 5.97, a current ratio of 1.40 and a quick ratio of 1.31. Tenet Healthcare Co. has a 1 year low of $36.69 and a 1 year high of $92.65. The stock has a 50 day simple moving average of $46.78 and a two-hundred day simple moving average of $52.63. The firm has a market cap of $5.60 billion, a P/E ratio of 10.19, a P/E/G ratio of 1.57 and a beta of 2.16.

Tenet Healthcare (NYSE:THC – Get Rating) last announced its quarterly earnings data on Thursday, October 20th. The company reported $1.44 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.16. Tenet Healthcare had a return on equity of 38.12% and a net margin of 2.93%. The firm had revenue of $4.80 billion during the quarter, compared to the consensus estimate of $4.80 billion. During the same quarter in the previous year, the company posted $1.99 earnings per share. The business’s revenue was down 1.9% on a year-over-year basis. On average, analysts forecast that Tenet Healthcare Co. will post 6.14 earnings per share for the current fiscal year.

Tenet Healthcare announced that its board has approved a share repurchase program on Thursday, October 20th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 22.4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Tenet Healthcare Profile

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Tenet Healthcare Corp. engages in the provision of health care services. It operates through the following segments: Hospital Operations and Other, Ambulatory Care, and Conifer. The Hospital Operations and Other segment consists of acute care hospitals, ancillary outpatient facilities, urgent care centers, microhospitals and physician practices.