American Century Companies Inc. Has $2.16 Million Stake in Tenet Healthcare Co. (NYSE:THC)

American Century Companies Inc. raised its position in shares of Tenet Healthcare Co. (NYSE:THC) by 28.9% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 16,223 shares of the company’s stock after acquiring an additional 3,641 shares during the period. American Century Companies Inc.’s holdings in Tenet Healthcare were worth $2,158,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Headlands Technologies LLC increased its holdings in shares of Tenet Healthcare by 268.3% in the second quarter. Headlands Technologies LLC now owns 14,349 shares of the company’s stock valued at $1,909,000 after purchasing an additional 10,453 shares in the last quarter. Texas Permanent School Fund Corp increased its holdings in shares of Tenet Healthcare by 37.9% in the second quarter. Texas Permanent School Fund Corp now owns 122,559 shares of the company’s stock valued at $16,304,000 after purchasing an additional 33,682 shares in the last quarter. Choreo LLC acquired a new stake in shares of Tenet Healthcare in the second quarter valued at approximately $335,000. Prudential PLC bought a new position in Tenet Healthcare in the second quarter valued at approximately $1,258,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in Tenet Healthcare in the second quarter valued at approximately $258,000. Institutional investors and hedge funds own 95.44% of the company’s stock.

Insider Transactions at Tenet Healthcare

In related news, Director Meghan Fitzgerald sold 20,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the director now directly owns 15,269 shares in the company, valued at approximately $2,234,465.46. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Meghan Fitzgerald sold 20,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the director now directly owns 15,269 shares in the company, valued at approximately $2,234,465.46. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Saumya Sutaria sold 86,227 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $154.41, for a total transaction of $13,314,311.07. Following the transaction, the chief executive officer now owns 13,773 shares of the company’s stock, valued at $2,126,688.93. The disclosure for this sale can be found here. In the last 90 days, insiders sold 128,203 shares of company stock valued at $19,754,997. Company insiders own 0.93% of the company’s stock.

Tenet Healthcare Stock Performance

Shares of THC stock opened at $163.22 on Friday. The company has a market capitalization of $15.64 billion, a price-to-earnings ratio of 6.33, a PEG ratio of 0.86 and a beta of 2.14. 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 50-day simple moving average of $156.42 and a 200 day simple moving average of $132.85. Tenet Healthcare Co. has a 52 week low of $51.04 and a 52 week high of $171.20.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings data on Wednesday, July 24th. The company reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.89 by $0.42. The firm had revenue of $5.10 billion during the quarter, compared to the consensus estimate of $4.98 billion. Tenet Healthcare had a net margin of 13.17% and a return on equity of 24.66%. On average, sell-side analysts predict that Tenet Healthcare Co. will post 10.72 earnings per share for the current year.

Tenet Healthcare announced that its board has authorized a stock buyback program on Wednesday, July 24th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the company to repurchase 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 stock is undervalued.

Analyst Ratings Changes

A number of brokerages have issued reports on THC. The Goldman Sachs Group raised their price objective on shares of Tenet Healthcare from $156.00 to $173.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. StockNews.com raised shares of Tenet Healthcare from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 7th. Cantor Fitzgerald reissued an “overweight” rating and set a $168.00 price target on shares of Tenet Healthcare in a research report on Monday, August 19th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Tenet Healthcare from $150.00 to $155.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Finally, Citigroup lifted their price target on shares of Tenet Healthcare from $139.00 to $171.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. One research 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’s stock. According to data from MarketBeat, Tenet Healthcare has a consensus rating of “Buy” and a consensus target price of $152.69.

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.