Peak Retirement Planning Inc. Has $2.40 Million Stock Position in Tenet Healthcare Corporation $THC

Peak Retirement Planning Inc. boosted its holdings in shares of Tenet Healthcare Corporation (NYSE:THC) by 32.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,821 shares of the company’s stock after acquiring an additional 2,899 shares during the quarter. Tenet Healthcare accounts for about 0.7% of Peak Retirement Planning Inc.’s investment portfolio, making the stock its 29th largest holding. Peak Retirement Planning Inc.’s holdings in Tenet Healthcare were worth $2,400,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Norges Bank purchased a new position in Tenet Healthcare during the second quarter valued at approximately $206,981,000. Boston Partners increased its stake in shares of Tenet Healthcare by 95.0% in the second quarter. Boston Partners now owns 2,267,142 shares of the company’s stock worth $398,949,000 after acquiring an additional 1,104,500 shares during the last quarter. Alliancebernstein L.P. boosted its position in Tenet Healthcare by 375.7% during the second quarter. Alliancebernstein L.P. now owns 790,254 shares of the company’s stock valued at $139,085,000 after purchasing an additional 624,125 shares during the last quarter. Holocene Advisors LP acquired a new position in Tenet Healthcare in the 2nd quarter worth about $102,855,000. Finally, Assenagon Asset Management S.A. raised its stake in shares of Tenet Healthcare by 331.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 363,754 shares of the company’s stock worth $73,857,000 after purchasing an additional 279,377 shares in the last quarter. 95.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Tenet Healthcare news, insider R. Scott Ramsey sold 13,322 shares of the business’s stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $205.11, for a total value of $2,732,475.42. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Tammy Romo sold 645 shares of the firm’s stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $205.20, for a total transaction of $132,354.00. Following the transaction, the director directly owned 34,866 shares of the company’s stock, valued at $7,154,503.20. The trade was a 1.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 16,145 shares of company stock valued at $3,294,919 over the last ninety days. 0.81% of the stock is owned by company insiders.

Tenet Healthcare Stock Performance

NYSE:THC opened at $188.36 on Tuesday. The company has a debt-to-equity ratio of 2.27, a quick ratio of 1.64 and a current ratio of 1.71. The firm’s 50-day moving average is $200.36 and its 200-day moving average is $192.25. Tenet Healthcare Corporation has a 52-week low of $109.82 and a 52-week high of $222.82. The company has a market cap of $16.55 billion, a price-to-earnings ratio of 12.91, a PEG ratio of 0.81 and a beta of 1.41.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on THC shares. Barclays increased their price objective on Tenet Healthcare from $229.00 to $240.00 and gave the stock an “overweight” rating in a report on Friday, November 21st. Wall Street Zen upgraded shares of Tenet Healthcare from a “buy” rating to a “strong-buy” rating in a report on Saturday. Truist Financial restated a “buy” rating and set a $240.00 target price (up from $225.00) on shares of Tenet Healthcare in a report on Monday, November 3rd. Mizuho raised their price objective on Tenet Healthcare from $194.00 to $225.00 and gave the company an “outperform” rating in a research note on Friday, October 17th. Finally, Weiss Ratings upgraded Tenet Healthcare from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Tenet Healthcare presently has a consensus rating of “Moderate Buy” and an average target price of $233.81.

About Tenet Healthcare

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.