Insider Selling: Tenet Healthcare Co. (NYSE:THC) Director Sells 20,000 Shares of Stock

Tenet Healthcare Co. (NYSE:THC) Director Meghan Fitzgerald sold 20,000 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $146.34, for a total transaction of $2,926,800.00. Following the sale, the director now directly owns 15,269 shares of the company’s stock, valued at approximately $2,234,465.46. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Tenet Healthcare Stock Performance

Shares of NYSE THC opened at $150.06 on Friday. Tenet Healthcare Co. has a 1 year low of $51.04 and a 1 year 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. The stock has a fifty day moving average price of $138.28 and a two-hundred day moving average price of $115.64. The firm has a market cap of $14.66 billion, a P/E ratio of 5.82, a PEG ratio of 0.76 and a beta of 2.15.

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

Institutional Investors Weigh In On Tenet Healthcare

Hedge funds and other institutional investors have recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. grew 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 last quarter. Violich Capital Management Inc. grew its position in Tenet Healthcare by 3.2% in the first quarter. Violich Capital Management Inc. now owns 3,380 shares of the company’s stock worth $355,000 after buying an additional 105 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Tenet Healthcare by 17.0% in the first quarter. GAMMA Investing LLC now owns 731 shares of the company’s stock valued at $77,000 after buying an additional 106 shares in the last quarter. SummerHaven Investment Management LLC boosted its stake in shares of Tenet Healthcare by 1.3% during the 2nd quarter. SummerHaven Investment Management LLC now owns 8,915 shares of the company’s stock worth $1,186,000 after acquiring an additional 115 shares in the last quarter. Finally, Blue Trust Inc. grew its holdings in shares of Tenet Healthcare by 93.0% in the 2nd quarter. Blue Trust Inc. now owns 249 shares of the company’s stock worth $33,000 after acquiring an additional 120 shares during the last quarter. 95.44% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on THC shares. The Goldman Sachs Group upped their target price on Tenet Healthcare from $156.00 to $173.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. StockNews.com raised Tenet Healthcare from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 7th. UBS Group boosted their price target on shares of Tenet Healthcare from $137.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Baird R W upgraded shares of Tenet Healthcare to a “strong-buy” rating in a research report on Thursday, May 30th. Finally, Cantor Fitzgerald upped their target price on shares of Tenet Healthcare from $112.00 to $168.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. One investment analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $149.75.

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.