Tenet Healthcare Co. (NYSE:THC) Shares Sold by Securian Asset Management Inc.

Securian Asset Management Inc. trimmed its position in Tenet Healthcare Co. (NYSE:THC) by 6.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,791 shares of the company’s stock after selling 509 shares during the quarter. Securian Asset Management Inc.’s holdings in Tenet Healthcare were worth $1,036,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of THC. Rise Advisors LLC acquired a new position in Tenet Healthcare during the 1st quarter worth $29,000. GAMMA Investing LLC acquired a new position in Tenet Healthcare in the 4th quarter valued at approximately $52,000. FinTrust Capital Advisors LLC raised its holdings in shares of Tenet Healthcare by 108.6% in the 4th quarter. FinTrust Capital Advisors LLC now owns 897 shares of the company’s stock worth $68,000 after buying an additional 467 shares in the last quarter. Versant Capital Management Inc bought a new stake in Tenet Healthcare during the 2nd quarter worth approximately $71,000. Finally, Fidelis Capital Partners LLC bought a new position in Tenet Healthcare in the 1st quarter valued at $78,000. 95.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Tenet Healthcare

In other Tenet Healthcare news, Director Meghan Fitzgerald sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $146.34, for a total transaction of $2,926,800.00. Following the completion of the sale, the director now directly owns 15,269 shares of the company’s stock, valued at approximately $2,234,465.46. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Meghan Fitzgerald sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $146.34, for a total value of $2,926,800.00. Following the completion of the sale, the director now directly owns 15,269 shares of the company’s stock, valued at approximately $2,234,465.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard W. Fisher sold 1,400 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $132.24, for a total value of $185,136.00. Following the completion of the transaction, the director now directly owns 16,227 shares of the company’s stock, valued at $2,145,858.48. The disclosure for this sale can be found here. Insiders have sold 32,261 shares of company stock valued at $4,565,464 over the last quarter. 0.93% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts have issued reports on the company. Barclays lifted their price target on Tenet Healthcare from $156.00 to $171.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Stephens boosted their price objective on shares of Tenet Healthcare from $95.00 to $122.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 1st. Mizuho reissued a “buy” rating and issued a $130.00 price target (up previously from $118.00) on shares of Tenet Healthcare in a research report on Wednesday, May 1st. Raymond James raised their price objective on shares of Tenet Healthcare from $130.00 to $175.00 and gave the stock a “strong-buy” rating in a report on Thursday, July 25th. Finally, Cantor Fitzgerald lifted their target price on shares of Tenet Healthcare from $112.00 to $168.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. One research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Tenet Healthcare currently has a consensus rating of “Buy” and an average target price of $149.75.

Tenet Healthcare Stock Up 0.4 %

Tenet Healthcare stock traded up $0.66 during trading on Monday, reaching $150.72. The stock had a trading volume of 483,231 shares, compared to its average volume of 1,244,075. Tenet Healthcare Co. has a 52-week low of $51.04 and a 52-week high of $155.00. The business has a 50 day moving average price of $138.28 and a 200 day moving average price of $115.90. The stock has a market cap of $14.72 billion, a PE ratio of 5.82, a P/E/G ratio of 0.76 and a beta of 2.15. The company has a quick ratio of 1.38, a current ratio of 1.45 and a debt-to-equity ratio of 2.53.

Tenet Healthcare announced that its Board of Directors has approved a share buyback plan on Wednesday, July 24th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the company to buy up to 10.3% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Tenet Healthcare Company 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.