Asset Management One Co. Ltd. Boosts Holdings in Tenet Healthcare Co. (NYSE:THC)

Asset Management One Co. Ltd. boosted its position in shares of Tenet Healthcare Co. (NYSE:THC) by 80.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,478 shares of the company’s stock after purchasing an additional 660 shares during the period. Asset Management One Co. Ltd.’s holdings in Tenet Healthcare were worth $246,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in THC. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Tenet Healthcare by 0.7% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,604 shares of the company’s stock worth $1,325,000 after acquiring an additional 90 shares in the last quarter. Janney Montgomery Scott LLC purchased a new position in shares of Tenet Healthcare during the 1st quarter valued at approximately $537,000. GSA Capital Partners LLP increased its stake in shares of Tenet Healthcare by 54.0% in the first quarter. GSA Capital Partners LLP now owns 5,347 shares of the company’s stock worth $562,000 after buying an additional 1,874 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its stake in Tenet Healthcare by 18.2% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 5,709 shares of the company’s stock valued at $600,000 after acquiring an additional 880 shares during the last quarter. Finally, SG Americas Securities LLC grew its holdings in Tenet Healthcare by 73.0% during the 1st quarter. SG Americas Securities LLC now owns 6,206 shares of the company’s stock worth $652,000 after acquiring an additional 2,619 shares in the last quarter. Hedge funds and other institutional investors own 95.44% of the company’s stock.

Insider Activity

In other news, insider R. Scott Ramsey sold 11,599 shares of the stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $162.06, for a total transaction of $1,879,733.94. Following the completion of the sale, the insider now owns 6,324 shares in the company, valued at approximately $1,024,867.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Tenet Healthcare news, insider R. Scott Ramsey sold 11,599 shares of the business’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $162.06, for a total transaction of $1,879,733.94. Following the sale, the insider now directly owns 6,324 shares of the company’s stock, valued at $1,024,867.44. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard W. Fisher sold 2,000 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $163.67, for a total value of $327,340.00. Following the completion of the sale, the director now directly owns 14,227 shares of the company’s stock, valued at approximately $2,328,533.09. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 112,203 shares of company stock worth $17,451,957. Corporate insiders own 0.93% of the company’s stock.

Tenet Healthcare Price Performance

Shares of THC opened at $165.21 on Monday. The stock’s fifty day moving average is $159.43 and its 200-day moving average is $145.16. The firm has a market capitalization of $15.71 billion, a price-to-earnings ratio of 5.29, a price-to-earnings-growth ratio of 0.74 and a beta of 2.15. Tenet Healthcare Co. has a one year low of $52.08 and a one year high of $171.20. The company has a debt-to-equity ratio of 2.35, a quick ratio of 1.52 and a current ratio of 1.58.

Tenet Healthcare (NYSE:THC) last released its earnings results on Tuesday, October 29th. The company reported $2.93 earnings per share for the quarter, topping analysts’ consensus estimates of $2.33 by $0.60. Tenet Healthcare had a return on equity of 24.05% and a net margin of 14.91%. The firm had revenue of $5.12 billion during the quarter, compared to the consensus estimate of $5.05 billion. During the same period in the prior year, the firm posted $1.44 earnings per share. The firm’s revenue for the quarter was up 1.1% compared to the same quarter last year. Equities analysts anticipate that Tenet Healthcare Co. will post 11.38 EPS for the current year.

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. KeyCorp began coverage on shares of Tenet Healthcare in a research report on Friday, October 11th. They set an “overweight” rating and a $200.00 price target on the stock. Royal Bank of Canada lifted their target price on Tenet Healthcare from $174.00 to $183.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Citigroup raised their price objective on Tenet Healthcare from $139.00 to $171.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Raymond James increased their target price 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, Barclays lifted their price target on shares of Tenet Healthcare from $171.00 to $190.00 and gave the company an “overweight” rating in a report on Friday. One research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Tenet Healthcare has an average rating of “Buy” and a consensus price target of $165.35.

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.