Tenet Healthcare Corporation $THC Shares Bought by WCM Investment Management LLC

WCM Investment Management LLC lifted its position in Tenet Healthcare Corporation (NYSE:THC) by 244.4% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 510,224 shares of the company’s stock after buying an additional 362,083 shares during the quarter. WCM Investment Management LLC’s holdings in Tenet Healthcare were worth $102,657,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of THC. NewEdge Advisors LLC grew its holdings in shares of Tenet Healthcare by 6.1% in the first quarter. NewEdge Advisors LLC now owns 2,890 shares of the company’s stock valued at $389,000 after purchasing an additional 166 shares in the last quarter. Jones Financial Companies Lllp increased its holdings in Tenet Healthcare by 299.1% during the 1st quarter. Jones Financial Companies Lllp now owns 1,700 shares of the company’s stock worth $229,000 after purchasing an additional 1,274 shares during the period. Sivia Capital Partners LLC acquired a new stake in shares of Tenet Healthcare in the 2nd quarter valued at $290,000. QRG Capital Management Inc. raised its stake in Tenet Healthcare by 137.3% in the second quarter. QRG Capital Management Inc. now owns 20,878 shares of the company’s stock valued at $3,674,000 after buying an additional 12,080 shares in the last quarter. Finally, 111 Capital purchased a new stake in Tenet Healthcare during the second quarter worth approximately $244,000. 95.44% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Tammy Romo sold 645 shares of the firm’s stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $205.20, for a total value of $132,354.00. Following the completion of the sale, the director owned 34,866 shares in the company, valued at $7,154,503.20. This trade represents a 1.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Nadja West sold 2,178 shares of the company’s stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $197.47, for a total transaction of $430,089.66. Following the transaction, the director owned 28,480 shares in the company, valued at $5,623,945.60. The trade was a 7.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 16,145 shares of company stock worth $3,294,919 in the last 90 days. 0.81% of the stock is currently owned by corporate insiders.

Tenet Healthcare Price Performance

Shares of THC opened at $188.36 on Tuesday. The company has a current ratio of 1.71, a quick ratio of 1.64 and a debt-to-equity ratio of 2.27. The stock’s 50 day moving average is $200.36 and its two-hundred day moving average is $192.25. The firm has a market capitalization of $16.55 billion, a PE ratio of 12.91, a P/E/G ratio of 0.81 and a beta of 1.41. Tenet Healthcare Corporation has a twelve month low of $109.82 and a twelve month high of $222.82.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on THC. Mizuho boosted their target price on Tenet Healthcare from $194.00 to $225.00 and gave the company an “outperform” rating in a report on Friday, October 17th. The Goldman Sachs Group started coverage on shares of Tenet Healthcare in a research report on Tuesday, October 14th. They set a “buy” rating and a $224.00 price objective on the stock. UBS Group lifted their price objective on shares of Tenet Healthcare from $238.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Wells Fargo & Company decreased their target price on shares of Tenet Healthcare from $252.00 to $229.00 and set an “overweight” rating for the company in a research note on Wednesday, January 7th. Finally, Guggenheim boosted their price target on Tenet Healthcare from $238.00 to $257.00 and gave the company a “buy” rating in a research report on Tuesday, December 2nd. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $233.81.

Tenet Healthcare 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.