Quarry LP Has $83,000 Stock Holdings in Tenet Healthcare Co. (NYSE:THC)

Quarry LP increased its holdings in shares of Tenet Healthcare Co. (NYSE:THC) by 37.3% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 626 shares of the company’s stock after acquiring an additional 170 shares during the quarter. Quarry LP’s holdings in Tenet Healthcare were worth $83,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in Tenet Healthcare by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 11,110,396 shares of the company’s stock valued at $839,613,000 after purchasing an additional 172,913 shares during the period. Price T Rowe Associates Inc. MD raised its position 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 worth $831,947,000 after acquiring an additional 790,684 shares during the last quarter. Glenview Capital Management LLC boosted its holdings in Tenet Healthcare by 12.8% in the fourth quarter. Glenview Capital Management LLC now owns 7,742,322 shares of the company’s stock valued at $585,087,000 after acquiring an additional 877,180 shares during the last quarter. Greenlight Capital Inc. raised its holdings in Tenet Healthcare by 44.3% during the 4th quarter. Greenlight Capital Inc. now owns 1,315,970 shares of the company’s stock worth $99,448,000 after purchasing an additional 404,190 shares during the last quarter. Finally, 8 Knots Management LLC boosted its stake in shares of Tenet Healthcare by 74.5% in the 1st quarter. 8 Knots Management LLC now owns 1,025,730 shares of the company’s stock valued at $107,814,000 after purchasing an additional 438,033 shares during the last quarter. 95.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Barclays upped their target price on Tenet Healthcare from $156.00 to $171.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Citigroup lifted their price objective on shares of Tenet Healthcare from $139.00 to $171.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Tenet Healthcare from $150.00 to $155.00 and gave the stock a “buy” rating in a report on Friday, June 28th. UBS Group upped their price objective on shares of Tenet Healthcare from $180.00 to $197.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $168.00 target price on shares of Tenet Healthcare in a research report on Tuesday. One investment analyst has rated the stock with a hold rating, fourteen have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $152.69.

Insider Activity

In related news, Director Meghan Fitzgerald sold 20,000 shares of the firm’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 completion of the sale, the director now owns 15,269 shares in the company, valued at $2,234,465.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Paola M. Arbour sold 8,377 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $156.00, for a total transaction of $1,306,812.00. Following the completion of the transaction, the executive vice president now owns 21,426 shares in the company, valued at approximately $3,342,456. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Meghan Fitzgerald sold 20,000 shares of Tenet Healthcare stock in a transaction dated 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 transaction, the director now owns 15,269 shares of the company’s stock, valued at approximately $2,234,465.46. 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. 0.93% of the stock is currently owned by insiders.

Tenet Healthcare Stock Performance

NYSE THC opened at $161.81 on Thursday. The company has a debt-to-equity ratio of 2.53, a current ratio of 1.45 and a quick ratio of 1.38. The company has a fifty day moving average price of $157.86 and a 200-day moving average price of $134.18. Tenet Healthcare Co. has a 1 year low of $51.04 and a 1 year high of $171.20. The firm has a market cap of $15.81 billion, a price-to-earnings ratio of 6.28, a PEG ratio of 0.86 and a beta of 2.14.

Tenet Healthcare (NYSE:THC) last posted its 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. The firm had revenue of $5.10 billion for the quarter, compared to analysts’ expectations of $4.98 billion. Tenet Healthcare had a net margin of 13.17% and a return on equity of 24.66%. As a group, equities research analysts predict that Tenet Healthcare Co. will post 10.72 EPS for the current fiscal year.

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

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.