Recent changes in Tenet Healthcare’s stock ownership include Vanguard Group increasing its stake by 1.6% to 11,110,396 shares, worth $839.6 million. BNP Paribas Financial Markets raised its holdings by 113.5%, now owning 54,878 shares valued at $5.8 million. Other investors like Headlands Technologies and First Light Asset Management also acquired new stakes. Overall, institutional investors hold 95.44% of Tenet’s stock.
Insider Transactions
Insider R. Scott Ramsey sold 11,599 shares on September 5 at $162.06 each for $1.88 million. After this sale, he holds 6,324 shares valued at over $1 million. Director Richard W. Fisher also sold 2,000 shares on August 27 for $327,340, maintaining ownership of 14,227 shares. In total, insiders have sold 128,203 shares worth nearly $19.8 million in the last three months.
Stock Performance
Tenet Healthcare’s stock opened at $152.87. It has a market cap of $14.93 billion and a 12-month range of $51.04 to $171.20, with a recent 50-day average of $158.10. Recently, the company reported $2.31 earnings per share, exceeding expectations.
The board approved a share buyback plan for $1.5 billion, allowing the purchase of up to 10.3% of shares, indicating they view the stock as undervalued.
Analyst Ratings
Analysts have given Tenet Healthcare various ratings. Cantor Fitzgerald has an “overweight” rating with a target of $168.00, while Raymond James raised its target to $175.00 with a “strong-buy” rating. The stock currently has a consensus rating of “Buy” and an average target of $152.69.
Check Out Our Latest Stock Analysis on Tenet Healthcare
Company Overview
Tenet Healthcare operates in the U.S. healthcare sector, focusing on hospital operations and ambulatory care services.
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