Tenet Healthcare Co. (NYSE:THC) Shares Purchased by Private Advisory Group LLC

Private Advisory Group LLC lifted its stake in shares of Tenet Healthcare Co. (NYSE:THC) by 21.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,481 shares of the company’s stock after acquiring an additional 963 shares during the quarter. Private Advisory Group LLC’s holdings in Tenet Healthcare were worth $911,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. boosted its stake in Tenet Healthcare by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 11,110,396 shares of the company’s stock worth $839,613,000 after purchasing an additional 172,913 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of Tenet Healthcare by 11.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,915,000 shares of the company’s stock valued at $831,947,000 after buying an additional 790,684 shares in the last quarter. 8 Knots Management LLC raised its position in Tenet Healthcare by 74.5% during the first quarter. 8 Knots Management LLC now owns 1,025,730 shares of the company’s stock valued at $107,814,000 after buying an additional 438,033 shares during the period. Marshall Wace LLP boosted its position in Tenet Healthcare by 7.3% during the 2nd quarter. Marshall Wace LLP now owns 713,979 shares of the company’s stock worth $94,981,000 after acquiring an additional 48,626 shares during the period. Finally, Farallon Capital Management LLC increased its holdings in shares of Tenet Healthcare by 7.8% in the 2nd quarter. Farallon Capital Management LLC now owns 687,442 shares of the company’s stock valued at $91,450,000 after purchasing an additional 50,000 shares during the period. 95.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

THC has been the topic of a number of research analyst reports. Raymond James boosted their price objective on shares of Tenet Healthcare from $130.00 to $175.00 and gave the company a “strong-buy” rating in a research report on Thursday, July 25th. KeyCorp assumed coverage on shares of Tenet Healthcare in a research note on Friday. They issued an “overweight” rating and a $200.00 price target on the stock. UBS Group upped their target price on Tenet Healthcare from $180.00 to $197.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Deutsche Bank Aktiengesellschaft lifted their price target on Tenet Healthcare from $150.00 to $155.00 and gave the company a “buy” rating in a report on Friday, June 28th. Finally, Barclays raised their price objective on shares of Tenet Healthcare from $156.00 to $171.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. One equities research analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $155.47.

Tenet Healthcare Trading Up 2.0 %

Shares of NYSE:THC opened at $155.80 on Friday. Tenet Healthcare Co. has a 52-week low of $51.04 and a 52-week high of $171.20. 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 company has a market cap of $14.93 billion, a P/E ratio of 5.72, a P/E/G ratio of 0.78 and a beta of 2.14. The stock’s 50-day moving average is $158.58 and its 200-day moving average is $136.49.

Tenet Healthcare (NYSE:THC) last issued its quarterly earnings results on Wednesday, July 24th. The company reported $2.31 EPS for the quarter, topping the consensus estimate of $1.89 by $0.42. Tenet Healthcare had a return on equity of 24.66% and a net margin of 13.17%. The company had revenue of $5.10 billion for the quarter, compared to the consensus estimate of $4.98 billion. Equities research analysts predict that Tenet Healthcare Co. will post 10.73 earnings per share for the current year.

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

Insider Buying and Selling at Tenet Healthcare

In other news, 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 transaction, the director now owns 15,269 shares in the company, valued at approximately $2,234,465.46. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Meghan Fitzgerald sold 20,000 shares of Tenet Healthcare 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 sale, the director now owns 15,269 shares of the company’s stock, valued at approximately $2,234,465.46. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider R. Scott Ramsey sold 11,599 shares of the company’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $162.06, for a total value of $1,879,733.94. Following the completion of the transaction, the insider now owns 6,324 shares of the company’s stock, valued at $1,024,867.44. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 128,203 shares of company stock valued at $19,754,997 in the last ninety days. Company insiders own 0.93% of the company’s stock.

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.