Boston Partners Grows Stock Holdings in Tenet Healthcare Co. (NYSE:THC)

Boston Partners boosted its stake in Tenet Healthcare Co. (NYSE:THC) by 230.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 119,348 shares of the company’s stock after purchasing an additional 83,231 shares during the period. Boston Partners owned approximately 0.12% of Tenet Healthcare worth $12,527,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of THC. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Tenet Healthcare by 0.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,604 shares of the company’s stock worth $1,325,000 after purchasing an additional 90 shares during the period. Violich Capital Management Inc. grew its position in shares of Tenet Healthcare by 3.2% during the 1st quarter. Violich Capital Management Inc. now owns 3,380 shares of the company’s stock valued at $355,000 after acquiring an additional 105 shares during the period. GAMMA Investing LLC increased its position in Tenet Healthcare by 17.0% in the first quarter. GAMMA Investing LLC now owns 731 shares of the company’s stock worth $77,000 after buying an additional 106 shares in the last quarter. Yousif Capital Management LLC lifted its position in shares of Tenet Healthcare by 0.3% during the 4th quarter. Yousif Capital Management LLC now owns 42,825 shares of the company’s stock valued at $3,236,000 after buying an additional 131 shares in the last quarter. Finally, SummerHaven Investment Management LLC raised its stake in Tenet Healthcare by 1.7% during the 4th quarter. SummerHaven Investment Management LLC now owns 8,685 shares of the company’s stock worth $656,000 after acquiring an additional 145 shares during the period. Institutional investors own 95.44% of the company’s stock.

Tenet Healthcare Stock Performance

NYSE THC traded down $6.20 on Friday, reaching $141.75. 1,610,140 shares of the company’s stock traded hands, compared to its average volume of 1,443,890. The stock has a 50 day moving average price of $136.79 and a 200-day moving average price of $113.09. The firm has a market cap of $13.58 billion, a price-to-earnings ratio of 5.50, a P/E/G ratio of 0.76 and a beta of 2.15. Tenet Healthcare Co. has a fifty-two week low of $51.04 and a fifty-two week high of $155.00. The company has a debt-to-equity ratio of 2.53, a quick ratio of 1.38 and a current ratio of 1.45.

Tenet Healthcare (NYSE:THC) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $3.22 earnings per share for the quarter, beating the consensus estimate of $1.45 by $1.77. The company had revenue of $5.37 billion during the quarter, compared to analysts’ expectations of $5.15 billion. Tenet Healthcare had a return on equity of 24.66% and a net margin of 13.17%. Tenet Healthcare’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period last year, the business earned $1.42 earnings per share. Equities research analysts predict that Tenet Healthcare Co. will post 10.68 EPS for the current fiscal year.

Tenet Healthcare declared that its board has approved a stock repurchase program on Wednesday, July 24th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 10.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other Tenet Healthcare news, Director Nadja West sold 1,782 shares of the stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $126.41, for a total transaction of $225,262.62. Following the transaction, the director now owns 29,680 shares in the company, valued at $3,751,848.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Christopher S. Lynch sold 10,861 shares of the stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $133.83, for a total value of $1,453,527.63. Following the completion of the sale, the director now directly owns 14,759 shares in the company, valued at $1,975,196.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Nadja West sold 1,782 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $126.41, for a total transaction of $225,262.62. Following the completion of the transaction, the director now directly owns 29,680 shares in the company, valued at $3,751,848.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 16,543 shares of company stock worth $2,171,926. Company insiders own 0.93% of the company’s stock.

Analyst Ratings Changes

THC has been the topic of a number of research analyst reports. StockNews.com raised Tenet Healthcare from a “buy” rating to a “strong-buy” rating in a report on Friday, June 7th. The Goldman Sachs Group lifted their price target on shares of Tenet Healthcare from $156.00 to $173.00 and gave the company a “buy” rating in a report on Tuesday. Baird R W upgraded Tenet Healthcare to a “strong-buy” rating in a report on Thursday, May 30th. Barclays raised their target price on shares of Tenet Healthcare from $156.00 to $171.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Finally, Cantor Fitzgerald increased their price target on shares of Tenet Healthcare from $112.00 to $168.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. One research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, Tenet Healthcare presently has an average rating of “Buy” and an average price target of $149.75.

Tenet Healthcare Profile

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.