Jackson Creek Investment Advisors LLC Makes New $402,000 Investment in Tenet Healthcare Co. (NYSE:THC)

Jackson Creek Investment Advisors LLC bought a new position in shares of Tenet Healthcare Co. (NYSE:THC) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 3,022 shares of the company’s stock, valued at approximately $402,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Innealta Capital LLC purchased a new stake in Tenet Healthcare during the second quarter worth $28,000. Rise Advisors LLC acquired a new stake in shares of Tenet Healthcare during the 1st quarter valued at about $29,000. ORG Partners LLC purchased a new position in Tenet Healthcare during the second quarter worth approximately $31,000. Blue Trust Inc. increased its position in shares of Tenet Healthcare by 93.0% in the second quarter. Blue Trust Inc. now owns 249 shares of the company’s stock valued at $33,000 after buying an additional 120 shares in the last quarter. Finally, Capital Advisors Ltd. LLC lifted its position in shares of Tenet Healthcare by 759.5% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 361 shares of the company’s stock valued at $48,000 after buying an additional 319 shares in the last quarter. Institutional investors and hedge funds own 95.44% of the company’s stock.

Tenet Healthcare Trading Up 0.2 %

THC opened at $162.05 on Thursday. The company has a quick ratio of 1.38, a current ratio of 1.45 and a debt-to-equity ratio of 2.53. The firm has a market cap of $15.83 billion, a P/E ratio of 6.29, a P/E/G ratio of 0.85 and a beta of 2.15. Tenet Healthcare Co. has a 52 week low of $51.04 and a 52 week high of $166.89. The business has a fifty day simple moving average of $146.79 and a 200-day simple moving average of $124.82.

Tenet Healthcare (NYSE:THC) last released its earnings results on Wednesday, July 24th. The company reported $2.31 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.42. The company had revenue of $5.10 billion during the quarter, compared to the consensus estimate of $4.98 billion. Tenet Healthcare had a return on equity of 24.66% and a net margin of 13.17%. On average, equities analysts expect that Tenet Healthcare Co. will post 10.7 earnings per share for the current year.

Tenet Healthcare announced that its Board of Directors has authorized a share buyback plan on Wednesday, July 24th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 10.3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

THC has been the topic of several research analyst reports. Truist Financial reiterated a “buy” rating and issued a $170.00 price objective (up from $155.00) on shares of Tenet Healthcare in a report on Thursday, July 25th. UBS Group boosted their price target on Tenet Healthcare from $180.00 to $197.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. JPMorgan Chase & Co. raised their price objective on Tenet Healthcare from $107.00 to $140.00 and gave the company an “overweight” rating in a report on Thursday, May 30th. Raymond James increased their target price 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. Finally, Citigroup upped 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. One research analyst has rated the stock with a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, Tenet Healthcare currently has a consensus rating of “Buy” and an average price target of $152.69.

Insiders Place Their Bets

In other news, Director Richard W. Fisher sold 2,000 shares of the company’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $163.67, for a total transaction of $327,340.00. Following the sale, the director now owns 14,227 shares of the company’s stock, valued at $2,328,533.09. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Tenet Healthcare news, Director Richard W. Fisher sold 2,000 shares of the company’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $163.67, for a total transaction of $327,340.00. Following the sale, the director now owns 14,227 shares in the company, valued at approximately $2,328,533.09. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Paola M. Arbour sold 8,377 shares of Tenet Healthcare stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $156.00, for a total value of $1,306,812.00. Following the completion of the transaction, the executive vice president now owns 21,426 shares of the company’s stock, valued at approximately $3,342,456. The disclosure for this sale can be found here. Insiders have sold a total of 118,004 shares of company stock worth $18,060,399 in the last ninety days. 0.93% of the stock is owned by corporate insiders.

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.