Cullen Frost Bankers Inc. Purchases 191 Shares of Tenet Healthcare Corporation $THC

Cullen Frost Bankers Inc. grew its position in shares of Tenet Healthcare Corporation (NYSE:THC) by 46.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 601 shares of the company’s stock after purchasing an additional 191 shares during the period. Cullen Frost Bankers Inc.’s holdings in Tenet Healthcare were worth $106,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. US Bancorp DE increased its holdings in shares of Tenet Healthcare by 0.8% in the first quarter. US Bancorp DE now owns 8,620 shares of the company’s stock worth $1,159,000 after buying an additional 68 shares during the period. Farther Finance Advisors LLC increased its holdings in shares of Tenet Healthcare by 2.8% in the second quarter. Farther Finance Advisors LLC now owns 2,615 shares of the company’s stock worth $460,000 after buying an additional 70 shares during the period. Lindbrook Capital LLC increased its holdings in shares of Tenet Healthcare by 5.3% in the first quarter. Lindbrook Capital LLC now owns 1,427 shares of the company’s stock worth $192,000 after buying an additional 72 shares during the period. Signaturefd LLC increased its holdings in shares of Tenet Healthcare by 11.2% in the second quarter. Signaturefd LLC now owns 732 shares of the company’s stock worth $129,000 after buying an additional 74 shares during the period. Finally, Vista Investment Partners LLC increased its holdings in shares of Tenet Healthcare by 0.3% in the second quarter. Vista Investment Partners LLC now owns 25,257 shares of the company’s stock worth $4,445,000 after buying an additional 76 shares during the period. Hedge funds and other institutional investors own 95.44% of the company’s stock.

Insiders Place Their Bets

In other Tenet Healthcare news, CEO Saumya Sutaria sold 78,762 shares of the stock in a transaction on Wednesday, September 10th. The stock was 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 approximately $70,337,342.74. This represents a 17.60% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Lisa Y. Foo sold 8,000 shares of the stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $179.53, for a total value of $1,436,240.00. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. In the last quarter, insiders sold 90,722 shares of company stock worth $17,161,015. Corporate insiders own 0.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Cantor Fitzgerald restated an “overweight” rating and set a $190.00 price target on shares of Tenet Healthcare in a report on Tuesday, October 7th. Truist Financial set a $225.00 price target on Tenet Healthcare in a research report on Tuesday, October 14th. UBS Group upped their price objective on Tenet Healthcare from $230.00 to $238.00 and gave the company a “buy” rating in a research report on Wednesday, July 23rd. Zacks Research cut Tenet Healthcare from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Finally, Raymond James Financial reissued an “outperform” rating and set a $200.00 price target (up from $185.00) on shares of Tenet Healthcare in a report on Wednesday, July 23rd. One 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 stock. Based on data from MarketBeat.com, Tenet Healthcare presently has an average rating of “Moderate Buy” and an average target price of $209.25.

Tenet Healthcare Trading Up 1.8%

Shares of THC stock opened at $210.62 on Friday. Tenet Healthcare Corporation has a 52-week low of $109.82 and a 52-week high of $217.43. 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 firm has a market capitalization of $18.61 billion, a PE ratio of 13.48, a PEG ratio of 0.90 and a beta of 1.52. The stock has a fifty day simple moving average of $192.69 and a two-hundred day simple moving average of $169.90.

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.